A bit of disappointing news from OR

MicheH

So, to confirm for me (because I need laymans terms sometimes)

I can get a new policy whilst undischarged and do not have to buy the OR's interest.

Should either of us gets any insurance money (have to watch for payout after 6 months etc) while undischarged that will go to the OR

Should either of us gets a payout after discharge the OR is unable to have a claim on this?

So sorry to go on and on about this, I just need to be clear, had so much help on this and so much conflicting advice all of which appreciated though. I think I just need to know the far end of a f.a.r.t!

MicheH

Thank you for that kissjenn like I was saying about my dad when he died. I know that these insurances will payout and do so extremely quickly. Thank you for putting my mind at ease.

kissjenn

Policies with qualifying periods are usually not term assurance. They will put you on cover immediately. Other insurances such as some payment protections or "Over 50" and funeral plans will stipulate a minimum period because the period is instead of medical evidence. They work on the premise that you may have a health issue and are high risk otherwise you'd take the normal policy and perhaps be subject to a medical.

If you see a qualifying period you're probably looking at the wrong policy.

Round_The_Bend

MicheH wrote: »

So, to confirm for me (because I need laymans terms sometimes)

I can get a new policy whilst undischarged and do not have to buy the OR's interest. Correct.

Should either of us gets any insurance money (have to watch for payout after 6 months etc) while undischarged that will go to the OR Only in terms of clearing the outstanding debt at BR and cost of BR (i.e. OR costs). The rest would go to your named beneficiaries.

Should either of us gets a payout after discharge the OR is unable to have a claim on this? Correct.

So sorry to go on and on about this, I just need to be clear, had so much help on this and so much conflicting advice all of which appreciated though. I think I just need to know the far end of a f.a.r.t!

Keep posting if you're still unclear.

MicheH

thanks for that round the bend, I understand now

Lost2

Holes_in_my_pocket wrote: »

Totally agree i am medically retired from royal mail at age 40 , 9 yrs ago now i paid extra pension for the 11 yrs my extra contributions equat to £5 a month

wwwoooo will you be buying a second home in France then Holes:rolleyes:

(you should have been an MP, they have made it for life)

philnicandamy

Holes......you couldn't lend me a £5 could you? ;):D