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My Dad has dementia, so how can I find out why he pays RSA very month & what its for?
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People think t hat POA means the person can no longer conduct their own affairs once it is done.
This is not so.
Both myself and my husband have POAs registered so they can be put into operation if and when needed.
Meantime we carry on as normal.
It is not just for if you mentally unable to function mentally.
If we were involved in a car accident and unconscious for a while then then an attorney can step in
It might never be needed but could save a whole lot of hassle if the need arose.0 -
Both myself and my husband have POAs registered so they can be put into operation if and when needed.
Meantime we carry on as normal.
That would likely be an LPOA rather than a POA.0 -
bengal-stripe wrote: »It might well be an 'Over 50 Life Insurance', where you pay a fixed sum unto the end of your life, giving a small payout after death:
https://www.sunlife.co.uk/life-cover/over-50-life-insurance/?utm_source=Google&utm_medium=ppc_bp_sitelink&utm_campaign=GOF&ds_rl=1137226&gclid=CjwKCAjwkenqBRBgEiwA-bZVtj_QSxii4IzWmN9wZyrOgCAy2XeUp0YPBEEb7pIpEsOi3LBYtU9VChoC7cMQAvD_BwE&gclsrc=aw.ds
They are incredibly bad value, as after a few years you will have paid more than you (or your heirs) will get out of the insurance.
If it is something like £4 then it's likely Bengal is right about it being a life assurance policy. Elderly in laws both had/have these. When my FiL died a couple of years back the policy to which he had paid £4 a month for 20 years paid £250 towards his funeral costs but only if a particular company was used. MiL continues to pay this as she likes the reassurance but by the time she kicks off (ETA when she's 100+ given her family) she will have paid £4/month for 30 years so £1440+ paid for a return of £250. Cancelling the policy now would mean a zero amount back.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
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"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
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