Not upheld: policy cancellation and market withdrawal - alleged lack of awareness of termination rights complaint against Maiden Life Försäkrings AB, UK Branch (trading as Maiden Life AB)

Decision detail

Summary

Mr C complained that Maiden Life Försäkrings AB withdrew his Family Protection Plan from the market without making him aware the plan could be terminated in this way. Maiden Life provided notice in October 2025 for cancellation effective 30 November 2025, exceeding the contractual requirement of 30 days' notice. The ombudsman found that Maiden Life acted reasonably and in accordance with policy terms and conditions, and that its commercial decision to withdraw from the market cannot be interfered with. The complaint was not upheld.

The Ombudsman's reasoning

The ombudsman found that Maiden Life's commercial decision to withdraw from the market is not something the FOS can interfere with. The key issue was whether the cancellation was communicated in accordance with policy terms and conditions. Maiden Life provided more than the required 30 days' notice and acted to minimize disruption by giving advance notice to its agent and extending deadlines to seek alternative cover. The ombudsman noted the policy was a monthly renewable contract, not lifetime or fixed-term cover, and that Maiden Life was not responsible for the original sale or information provided at that stage.

How this compares

Source

Read the original decision on the Financial Ombudsman Service website