Life Assurance - at what levels do insurers ask for medicals etc. ?

Nicko67

Yeah, that 'someone else will be in the UK' comment caught my eye too. Ignore me if I've got the wrong end of the stick, but if the policyholder is spending significant time out of the country, there might be problems with obtaining the policy in the first place. More than 6 months out during the year could be an issue - not a problem with all companies but a lot wouldn't provide the cover.

property.advert

Nicko67 wrote: »

Yeah, that 'someone else will be in the UK' comment caught my eye too. Ignore me if I've got the wrong end of the stick, but if the policyholder is spending significant time out of the country, there might be problems with obtaining the policy in the first place. More than 6 months out during the year could be an issue - not a problem with all companies but a lot wouldn't provide the cover.

Lets just say that the legal side of this is well covered and that the insurance will be valid. In life assurance, there are very specific terms which relate only to the point at which the insurance is enacted and the proposer is put on risk.

property.advert

sandsy wrote: »

I Googled for you. Here's a couple of interesting links for L&G:

http://www.legalandgeneral.com/advisercentre/MedicalUnderwriting/Information/Underwritingconsiderations/Ageandsumassuredevidencelimits/page3927.html

and

http://www.ifaonline.co.uk/cover/news/1432237/legal-general-streamlines-medical-underwriting

Much obliged for those links

OshayAway

property.advert wrote: »

Lets just say that the legal side of this is well covered and that the insurance will be valid. In life assurance, there are very specific terms which relate only to the point at which the insurance is enacted and the proposer is put on risk.

It still sounds like you would benefit from bona fide advice on this. L&G did change their policy on this recently. Overseas travel (other than holidays for 30 days or less) will need to be disclosed though as the question is worded "any intention of..."
Depending on the country involved, this may prompt a medical regardless of sum assured.

property.advert

OshayAway wrote: »

It still sounds like you would benefit from bona fide advice on this. L&G did change their policy on this recently. Overseas travel (other than holidays for 30 days or less) will need to be disclosed though as the question is worded "any intention of..."
Depending on the country involved, this may prompt a medical regardless of sum assured.

Thank you for your concern but no, I do not need advice. The great principal of life assurance is that it reflects a point in time, not a second prior nor a second later.

stephenni1971

I have been reading this post with increasing amazement and felt I should put in my tuppence worth.

The poster seems to be a perfect illustration of the old adage ' a little knowledge is a dangerous thing', for example...

I do not need advice. The great principal of life assurance is that it reflects a point in time, not a second prior nor a second later.

Sorry to burst your bubble, but a life insurance proposal is exactly about what you do, were doing and have been doing, and what you intend to do after.

Certainly among the companies I deal with all will have a residency question involved.

I really have no sympathy for you or willingness to help in your query, but others have stated perfectly reasonable concerns only for you to shoot them down in your conceited knowledge that you know best.

Nicko67

The OP is absolutely (technically) correct about the application being a snapshot in time e.g. I don't smoke and would be entitled to non-smoker rates, but could start smoking 50 a day 10 minutes after signing up for life cover. My worry from your perspective is that some life companies still look for ways to avoid paying claims and might refuse a claim if they felt that they could avoid paying it due to non-disclosure. I'm not saying they'd be right or wrong for doing that, but if there was a chance of it happening, I'd want to avoid the risk.

starrystarry

It is a snapshot but it's nonsense to say it reflects not a second prior or later. There will be many questions about things that have happened in the past and there's likely to be a question about any future plans to reside/travel abroad.

Nicko67

starrystarry - I agree with what you say. I think what OP is saying is that (s)he can answer all of the questions, whether about past/present/future truthfully to the letter of the law (as it were). My point was that irrespective of what goes on the proposal form, companies will use various means to avoid paying claims and if they had a sniff of an opportunity to do this, if there is any potential doubt in the validity of the original application, they would take that opportunity.

starrystarry

Don't believe the hype Nicko. Insurance companies need to have good reasons for turning down any claim, otherwise the FOS will just overturn their decision. It's a myth that insurance companies will grub around looking for any excuse to refute a claim.

The OP is being rather vague about what he/she is planning to do so I don't think I'll waste any more time trying to help. Doubt he/she would listen anyway.