Critical Illness Payout

DullGreyGuy

born_again said:

DullGreyGuy said:

born_again said:

Do the T/C of the LV policy state that they need to be informed of such changes?

Raise a complaint. You can then got to FOS if not resolved to your satisfaction & FOS will make a judgment on the case. 
Will not be quick.

You aren't required to tell them about changes @born_again, the issue is the OP had high blood pressure before taking the policy out and failed to declare it when getting their quote. 

OP said The LV was taken out before the Aviva in May 2022. 

So I took this to mean the policy was already in place when taking out the Aviva one.

But seems odd to have 2 critical illness policies.

Perhaps OP could confirm exactly when LV policy was taken out 👍

They've already said that the high blood pressure was found by the assessment done on behalf of Aviva which was before the LV policy incepted. 

As to why have two CI policies taken out more or less simultaneously? I'll leave that to the OP or one of our IFAs to explain why it may be a sensible strategy -v- one higher sum insured policy. 

dunstonh

As to why have two CI policies taken out more or less simultaneously? I'll leave that to the OP or one of our IFAs to explain why it may be a sensible strategy -v- one higher sum insured policy. 

Given the sum assured involved, I can only think the of the following reasons:
1 - if one was a LTA and the other was a DTA (or FIB) and the provider terms meant separating them resulted in a lower premium cost than having two segments on the same plan.   
2 - the lives assured knew there were potential medical issues and were hedging their bets.
3 - there was no adviser used, and the purchaser didn't really know what they were doing and decided to split providers for some reason. (maybe thinking that smaller sum assureds would reduce the chances of tests etc)

I think the OP would need to explain why they did it. 

Coffee10

@dunstonh two policies were taken on advice from our financial advisor. As for point 2 there were no potential medical issues...I can assure you we didn't see a fatal brain tumor coming.

dunstonh

Coffee10 said:

@dunstonh two policies were taken on advice from our financial advisor. As for point 2 there were no potential medical issues...I can assure you we didn't see a fatal brain tumor coming.

My responses were generic as I didn't know why you did it that way.

What reasons did your FA give for doing it like that? 
What advice did they give to you when they found out about the medical condition?