Life Insurance Cancer/PSC Diagnosis

aardar

Hi

I'm a newbie so really need some advice! My husband was diagnosed & had surgery to remove tumour from his colon last year, as he had Colitis for the past 20 years. Hes only 43 and we took out a life insurance policy 5 years ago and declared the existing conditions: Chronhs& Colitis. Do we need to advise the insurance company of the cancer diagnosis & subsequent surgery to remove tumour and the more recent diagnosis of PSC Liver Disease as to date have been given alsorts of advice as we should inform them and other saying we don't need too. Trying to get this sorted so I don't stress him out

Please help:think:!!!!!!!

Thanx

stephenni1971

FinAdv wrote: »

Hi,

I think you should definitely inform the company.

They expect you to inform them of any changes in medical condition or the policy may become void due to non disclosure and they may not pay out in the event of death.

Sorry but that is rubbish.

When you took out your policy it was underwritten based on your circumstances at the time so any change to this cannot void the policy.

As long as you declared everything at the time of application you should be fine.

ACG

Stephenni is correct once it has been underwritten and gone on risk you do not need to make them aware of any changes to your health from that point onwards.

However, you say you had cancer... you may be able to make a claim, did the life cover have any Critical Illness insurance included with it?

OshayAway

FinAdv wrote: »

Hi,

I think you should definitely inform the company.

They expect you to inform them of any changes in medical condition or the policy may become void due to non disclosure and they may not pay out in the event of death.

Good grief!!! With a member name like "FinAdv" it may be assumed that you are in a position to give financial advice. Your post above screams the opposite!

It's no wonder the OP is confused if you have been receiving 'advice' like this.

No, as stephenni1971 says, you do not need to disclose anything after the policy starts (with the exception of change of residence).

Just to give you complete peace of mind, why not telephone your insurer (if you don't have an IFA / broker) and ask them anonymously. Or just see if anyone else posts on here to backup the correct information.

In a case like the one you describe, it may prove useful to enquire about and GIO (guaranteed insurability options) which if present will allow you to increase the cover you have without any further medical underwriting, should you have a need to do that in future.

aardar

Thanks for all your help and advice - at least it gives peace of mind! I checked the policy and there was no critical illness cover as to include this with the original premium would of been more than we could afford & given the existing medical conditions.

Thanx for all the help