Daily Mail

Five vi­tal ques­tions to ask . . .

- f.parker@dai­ly­mail.co.uk Health · Insurance · Society

HOW long will it last? Some poli­cies are for a fixed pe­riod of time, and if you die after they ex­pire you will not re­ceive a pay­out.

WILL my pre­mi­ums stay the same? Re­view­able pre­mi­ums may be cheap to be­gin with, but they typ­i­cally increase as you get older and de­velop more health prob­lems.

DO I have a pre-ex­ist­ing con­di­tion? If you fail to de­clare a health con­di­tion, your loved ones won’t re­ceive a penny if you die.

AM I plan­ning to move abroad? Some poli­cies will not pay out if you move overseas be­cause the in­surer may con­sider the coun­try a riskier lo­ca­tion.

WILL my pay­out shrink? If you buy level term life in­sur­ance, your pay­out will re­main the same. How­ever, a de­creas­ing term pol­icy will cut your pay­out over time.

but it ruled in Aviva’s favour. Since tak­ing early re­tire­ment due to his ill­ness, Peter has had to draw down £100,000 from his pen­sion and down­size his house in ex­eter.

His pol­icy, taken out in 2013, had only a six-year term and ex­pired in April last year.

The fa­ther of four hopes to take legal ac­tion against Aviva, but can­not af­ford to do so at present.

He says: ‘i try not to think about the fact i may never get my pay­out, be­cause i feel aw­ful when i do and i know how im­por­tant men­tal health is when you’re fight­ing a ter­mi­nal ill­ness.’

An Aviva spokesman says: ‘ We un­der­stand Mr Bull re­mains dis­ap­pointed that we did not pay his claim, but the med­i­cal ev­i­dence that we re­ceived dur­ing those years did not sup­port the cri­te­ria for ter­mi­nal ill­ness ben­e­fit.’

An As­so­ci­a­tion of Bri­tish in­sur­ers spokesman says: ‘in­sur­ers know this is an ex­tremely dif­fi­cult time for pol­i­cy­hold­ers and their fam­i­lies, so will as­sess claims based on the in­di­vid­ual’s cir­cum­stances as quickly as pos­si­ble.’

Newspapers in English

Newspapers from UK