Decreasing Life Insurance + Crtical Illness

Dandytf

Since re applied for Decreasing Life insurance.
Answered all medical+lifestyle questions correctly.
Got one quote from Royal London, hopefully they'l check and proccess my quoted policy.
Very inexpensive if they can set it up.
At this early stage no income cover is available to add, though I'll ask direct if the policy goes live as such.
Thanks again fro mser's advice

Weighty1

Dandytf wrote: »

Since re applied for Decreasing Life insurance.
Answered all medical+lifestyle questions correctly.
Got one quote from Royal London, hopefully they'l check and proccess my quoted policy.
Very inexpensive if they can set it up.
At this early stage no income cover is available to add, though I'll ask direct if the policy goes live as such.
Thanks again fro mser's advice

This appears like you are shooting in the dark. If you spoke to a specialist adviser with experience in this field they'd be able to do all the legwork for you to see if you're likely to be accepted before potentially wasting your time completing an application.

It's also worth noting that the premium will almost certainly not stay as it is.

Dandytf

Thanks all msr's thoughts.
Whilst I haven't yet requested a broker or specialist.
London+Country are sending me an access consent form, which I'll return by post for them to access my medical info, before they can make any offer of Life Insurance.
I'll use this as a starting point to establish If this policy could be made available and at what cost (online quote was <£13 -I expect to pay more, though I'll set my own limit maybe upto £25 per month if relevant.

RyanChapman

I'm interested. But, Let me know, how can i join?

Dandytf

Posted royal London doc today, upto six weeks for decision if this policy can go ahead.

Weighty1

I've just used Royal London's pre-application underwriting tool. Best case scenario you are likely to get is the premium doubling. That's provided you've not had a relapse recently, have no current ongoing symptoms and don't use mobility aids on a day to day basis.

Dandytf

Weighty1 wrote: »

I've just used Royal London's pre-application underwriting tool. Best case scenario you are likely to get is the premium doubling. That's provided you've not had a relapse recently, have no current ongoing symptoms and don't use mobility aids on a day to day basis.

Thank you for genuine advice, appreciated.
I'm hoping to get this policy accepted and was expecting increased premiums from quoted £12.95 approx.
I was hoping if accepted I could ask them if they could consider some kind of income cover plan though seems this isn't widely offered to m.s. sufferers.
I also have option of going through all my medical info again with 'The Insurance Surgery '
Though haven't heard of them until recently.
I have let Royal London know upto date status of m.s. and what is required as support going froward.

MovingForwards

Have a look through your company policies as some offer a death in service benefit of 3 or 4 X your annual salary (I have to be in the pension to qualify).

Also if you are in the pension look at what could be paid out to a named /nominated person.

Weighty1

Dandytf wrote: »

Thank you for genuine advice, appreciated.
I'm hoping to get this policy accepted and was expecting increased premiums from quoted £12.95 approx.
I was hoping if accepted I could ask them if they cold consider some kind of income cover plan though seems this isn't widely offered to m.s. sufferers.
I also have option of going through all my medical info again with 'The Insurance Surgery '
Though haven't heard of them until recently.
I have let Royal London know upto date status of m.s. and what is required as support going froward.

The insurance surgery are simply a broker. I'm very familiar with them as I specialise in the same area of insurance as they do. The insurance surgery would be far better placed than someone at L&C to find you the best provider.

I can pretty much guarantee that Royal London won't offer income protection. Even if you have only ever had 1 relapse of MS 20-years ago they STILL wouldn't offer it. Their underwriting rules simply wouldn't allow for it, which is the case for any long term income protection provider. As I think I previously mentioned, short term income protection, paying out for up to 12-months, is going to be the best arrangement you'll find OR there is a critical illness plan with a company called ESMI. IT doesn't cover pre-existing conditions and only covers 8 conditions (including MS which would be excluded) but it does cover the main claimable conditions heart attacks, stroke, cancer etc.

Dandytf

MovingForwards wrote: »

Have a look through your company policies as some offer a death in service benefit of 3 or 4 X your annual salary (I have to be in the pension to qualify).

Also if you are in the pension look at what could be paid out to a named /nominated person.

Don;t have the details in front of me thought I say yes to both questions.
I haven't yet nominated relation that I'm considering.
Thanks I didn't bother as I'm only a few years into this job though I think I can nominate online -not sure of the in service type benefit though I have certainly seen nomination on pension portal all be it a few years only.
Thanks!