Request for Refund Due to Mis-sold Balance Protection Plan

I am writing to express my concerns regarding the balance protection plan associated with my credit card account. When I enrolled in this plan, I was informed that it would provide coverage in the event of unemployment. However, I have since discovered that the plan specifically covers retrenchment, a scenario that does not apply to my employment situation.

As a government employee, retrenchment is not a possibility within my role. Therefore, the primary benefit of this plan is not applicable to me. While I understand that the plan may offer coverage for disability, I am aware that such claims are subject to stringent conditions and are not guaranteed.

Given this information, I believe that I was misinformed at the time of enrollment, leading me to pay for a service that does not align with my employment circumstances. According to the Financial Advisory and Intermediary Services (FAIS) Ombud, financial service providers are obligated to ensure that the products they recommend are suitable for their clients' specific needs and circumstances.

In light of the above, I kindly request a full refund of all premiums paid towards the balance protection plan since its inception.