I need advice - new life and CI policy

FTB83

Hi - I really need some advice on a new joint life assurance and CI policy I have just received the paperwork for.

The broker suggested getting Total Permanent Disability cover at a cost of £5 extra per month. I agreed and it has been included in the policy (though this is all subject to a 30 day cancellation period). I have read before that it is very important with this that the policy states 'own occupation' in the terms. I am the second person on the policy and have 'own occupation' stated, but my partner, first applicant, has 'Activities of Daily Working'. I was a bit befuddled by this and had to ring the policy provider in connection with a few other queries anyway.

Activities of Daily Working = you must not be able to do three of the five following things on your own: Washing, dressing, eating, toileting and mobility.

I questioned this as it seemed almost impossible thing to claim on and doesn't cover his occupation My partner is a skilled engineer and if he, say for instance lost a limb (touch wood!!), he would no longer be able to do his own job, but I'm sure he'd be able to feed himself, wipe his a**, dress himself etc. etc.

The policy providers say that due to his job, they are unable to cover for his occupation (is this the general consensus for engineering jobs?), and is Total Permanent Disability Cover a waste of money?

I have already asked that the quoted £2.50 per month 'payment protection' be removed, but I wondered whether I am right to cancel the TPD?

Advice really really needed - I don't want to get rid of something that might be beneficial, but my gut is telling me it is a non-starter. If anyone has any experience in this, please let me know your thoughts.

Thanks.

SPENCER

Sorry I am no expert but there has been so much in the press/tv regarding TPD cover. It is nigh on impossible to claim for this. I have read articles written by insurance experts and they appear to acknowledge this. Figures have also been issued by various insurance companies and a high level of these claims are denied. You have to more or less be in a wheelchair and unable to do anything for yourself to obtain a payout.

I know someone who has been battling with their insurance company for 3 years following a claim for TPD. They are unable to work and are registered disabled. They receive all disability benefits off the governement yet the insurance company say they don't consider the problem to be what they consider "permanent". This person has an incurable, progressive disease.

I think it is a waste of money personally.

moneywise_2

hi ftb

for TPD there will be some company not cover certain occupation if they do that, that means those occupations are in the high risk catergory for insurance company, on the other hand some company will accept some occupation.

the most common on is solider or policeman . they are normally very high risk.

for your question if TPD worthy?

first thing is, if anything on the listed happened how much do you think you needed to cover those situation. I would say is 5 pounds a month a lot for you to paid or you will risk it to go without that cover for 5 pounds.

thanks

ArchieB_2

TPD does what it says on the tin and you have to be PERMANENTLY and TOTALLY Disabled to meet the claim criteria. By it's very nature the chances of you being in a position to claim is very slim and personally I would use the £5 per month elsewhere.

FTB83

Thanks all for your replies, they're a huge help. :T

I just called the brokers a moment ago to cancel the TPD cover, and guess what, I had a fight on my hands ("it's much more comprehensive than you think....I'm sure he would get a payout in most circumstances...")! Anyway, it transpires that it cannot just be removed from the policy, they have to reapply, leaving the TPD cover out, blah blah blah. So I've left them to it...