Life Assurance questions

di3004

Hi folks

A friend and her hubby have asked me to check something out for them, as they are no longer online at present.

They were sold a level term life assurance some years ago (I do not have all their details), but they said they recently asked the bank that dealt with it for some of the paperwork that they did not receive at the time they taken it out.

I do know they were sold separate covers, as they confirmed this to me, and understand it is one that protects a family if the unfortunate were to happen.

However, I was told that when they received some of the paperwork back just recently, that on the proposal form that was completed by the bank and not themselves, they note that the hubby's occupation is incorrect, and not all details of the family medical history were put down either. This was a form that did not need signing at the time, they were separate.

I did suggest they contact the business for them to get this corrected.
I will double check if its active, and if this is the case I do think it is important to make sure they get things right.

Am I correct in saying that the incorrect name of the occupation can invalidate a claim?
And of course for not having all details of pre med conditions, including family history?

From what I am aware of her hubby is still in the same employment, and there are no changes.

Cheers folks, I will pass on any info you may have, thank you.;)

weighty1_2

Having the wrong occupation and wrong details regarding a family history of hereditary disease can absolutely affect a plan paying out.

Whether it does is all dependent on how wrong the occupation is/was and whether it is actually deemed as a higher than standard risk and whether the family history issue is something of significance which would have affected the standard premium being offered.

Whether the plan would pay out in full, provide a partial payout, or totally decline a payout in the event of a claim is very much dependent on the above answers and whether the insurer see the non-disclosure as being accidental, negligent or deliberate.

Your friends would have received a copy of the application proposal at the time it was completed and therefore it may be unlikely that the insurer will allow them to change the details now, on the basis that "several year" have passed. However, it's impossible to know without them speaking to the provider.

di3004

weighty1 wrote: »

Having the wrong occupation and wrong details regarding a family history of hereditary disease can absolutely affect a plan paying out.

Whether it does is all dependent on how wrong the occupation is/was and whether it is actually deemed as a higher than standard risk and whether the family history issue is something of significance which would have affected the standard premium being offered.

Whether the plan would pay out in full, provide a partial payout, or totally decline a payout in the event of a claim is very much dependent on the above answers and whether the insurer see the non-disclosure as being accidental, negligent or deliberate.

Your friends would have received a copy of the application proposal at the time it was completed and therefore it may be unlikely that the insurer will allow them to change the details now, on the basis that "several year" have passed. However, it's impossible to know without them speaking to the provider.

Thank you so much, yes just as I thought then, in regards of any claims being void, I shall confirm this to my friends.

Cheers so much.;)