Guaranteed Acceptance Whole of life but for over 40

horza

HI,

I note on the good old internet that there are now Guaranteed Acceptance policies for over 40s and in Smartinsurance.co.uk's case over 30s.

Does anyone have any experience with any other the companies that offer these schemes. Essentially an over 50s plan but for a 46 year old.

Aware of whole of life, 1 to 2 years before any payout on anything other than accidental death etc. I have some previous Financial Advice qualifications so be nice people

Wife has recent diagnosis of secondary breast cancer and although no prognosis at present i am thinking of options at this time

Thanks

dunstonh

I note on the good old internet that there are now Guaranteed Acceptance policies for over 40s and in Smartinsurance.co.uk's case over 30s.

Be wary of these as these cut down life insurance plans are not a replacement for fully underwritten life assurance plans. They are an option of last resort.

ThinkingOutLoud_2

OP, I am kind of guessing you are wary of this type of policy which is why you posted.

You don't actually say what you want cover for and / or how much. I know that may seem obvious to you. But, that might help folks here offer advice.

The availability of underwritten life cover while diagnosed and not yet past treatment for secondary stage Breast Cancer is going to be tricky and IMHO may be impossible even with specialist life insurers. If you do find someone, it may be prohibitively expensive.

Cover with specialists providers tends to only become possible once you are 12 months the other side of treatment. Mainstream insurers may only offer cover after several years. But, as with all conditions, medical science advances mean the rules are forever changing.

horza

Yes am wary of these products, certainly not what i would turn to for simple life cover under normal circumstances. Essentially it will be funeral expenses + a bit, I am not looking to jump in to anything, my wife has death in service benefits from her employer that would be payable. Plus return of funds from previous occ pens. The critical illness policy we had via Aviva paid out on the mortgage when she was initally diagnosed with cancer a few years ago.

We both thought the battle was won but unfortunately not all the cancer was erradicated and has returned to claim her at some point in i am hoping at least the mid term. As the cancer is in her bones now there is no cure, more about control and pain management. 2 months into treatment again and if i'm honest i am looking at insurance - whole of life - in its truest sense.... a gamble.

I am information poor at this time on her prognosis, it is unlikely to be great due to the pain levels and fairly broad distribution aroud her body, SO at this time i am simply looking for company reviews and payout percentages. I note MSE over 50s article and if things go better than expected i may not feel the need to taken any actions until she is 50, knowledge is power etc. 3yrs! I can only hope

Thank you for replies.

H

ThinkingOutLoud_2

H

It is admirable you can think about such matters when so much else is no doubt on your minds.

If I am being honest and I don't know you or all your circumstances, it sounds like you will have money enough if and when; so I wonder if you should forget about spending time pondering this "small side bet" and focus your time and energy on time together?

The time lost / few thousand you alone might stand to gain are not IMHO a good trade for time you cannot buy later being spent now doing things or just being together...

horza

Well this is only a thought, and i have no intention of spending significant energy on it. I am currently "home alone" and thoughts for the future so often interfere with the present when i am by myself.

I try to manage anxiety at the best of times and this is most definitely not one of those, problem solving, details etc keep the mind busy which isn't always the best but once i have my wife back home we will be spending time together have no fear.

Anyway off topic,

Thanks

H