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Refused endowment policy......MS

frosty
frosty Posts: 1,169 Forumite
Part of the Furniture 1,000 Posts Combo Breaker
in Mortgages & endowments
Hi everyone,I hope I have posted on the right board:D.

A friend of mine applied for a Scottish Friendly money builder and an endowment policy.One was to run for 10yrs the other 15yrs.They have sent a letter refusing her because she has MS.Does anyone know of any other companies who might provide similar policies.:)
thanks.

Comments

  • opinions4u
    opinions4u Posts: 19,411 Forumite
    frosty wrote: »
    Hi everyone,I hope I have posted on the right board:D.

    A friend of mine applied for a Scottish Friendly money builder and an endowment policy.One was to run for 10yrs the other 15yrs.They have sent a letter refusing her because she has MS.Does anyone know of any other companies who might provide similar policies.:)
    thanks.

    Lucky escape. Poor form of investment. Perhaps a stocks and shares ISA would be better for her. No life cover and no medical underwriting.
  • dunstonh
    dunstonh Posts: 121,109 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    opinions4u wrote: »
    Lucky escape. Poor form of investment. Perhaps a stocks and shares ISA would be better for her. No life cover and no medical underwriting.

    Damn, I was going to say that almost word for word. You beat me too it. My very first thought was "Lucky escape".

    frosty, your friend was looking to buy a virtually obsolete plan that is damned expensive and wipes out the very tiny tax free advantage it has. Its an style commission plan and modern S&S ISAs wipe the floor with it.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Yorkie1
    Yorkie1 Posts: 12,585 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    tradeseeker reported as spam.
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    1,000 Posts Combo Breaker
    dunstonh wrote: »
    Damn, I was going to say that almost word for word. You beat me too it. My very first thought was "Lucky escape".

    Me too!

    (I need some characters to make this long enough that is the only reason for this sentence)
  • frosty
    frosty Posts: 1,169 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    :TThanks,I will pass the information on.
This discussion has been closed.
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