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 Critical illness cover |
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| Barry |
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  Joined: Tue Jan 16 2007, 11:17AM Posts: 11 |
Do policies generally cover any form of dementia? | ||
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| Suzanna |
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 Joined: Thu Apr 12 2007, 05:47PM Posts: 4 |
I know that the direct line critical illness cover specifies Alzheimers. does anyone know if I would be able to take out such a policy given that my mum and her mum have both had Alzheimers? surely i would have to disclose this and then they would refuse me a policy? |
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| Dave F |
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Joined: Mon Apr 02 2007, 11:08AM Posts: 5 |
Suzanna wrote ... I know that the direct line critical illness cover specifies Alzheimers. does anyone know if I would be able to take out such a policy given that my mum and her mum have both had Alzheimers? surely i would have to disclose this and then they would refuse me a policy? Not necessarily but possible dependant on underwriting/medical assessment or a full medical Most 'Critical Illness' Insurance Policies are designed to pay out to people during their working lives to replace income lost whilst recuperating from a defined 'Critical Illness' They way they are structured most end cover at normal retirement age however some that are 'Whole of Life' Based revert to a basic 'Long Term Care' protection plan (AXA Sun Life) spring to mind Alzheimers itself is sometimes included as a 'definition' of 'Critical Illness' but 'Dementia' isn't Why? Alzheimers looks good from a sales point of view but the incidence of verifiable claims below age 60/65 isn't high 'Dementia' just how do you diagnose that? Medical Opinion varies so much that a claim on that basis is likey to fail any Insurance Company criteria. After all they are in business to take premiums from customers to invest to make profit for shareholders by mitigating claims as far as possible Do I sound cynical? You bet I am after working as an IFA / Sales Adviser for over 20 years and pursing claims on behalf of clients If you have an existing policy or are considering taking one out then seek out a Professional Qualified IFA who works on a fee paying basis, not a Commission based one is the best advice I can give Direct Line will have small print so convoluted that a claim for 'Alzheimers' may be impossible to actually make never mind prove |
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| Barry |
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Joined: Tue Jan 16 2007, 11:17AM Posts: 11 |
Thanks for that Dave. By the way, you mentioned enduring power of attorney in another post, Sue and I have had one - just in case- for the past 6 years, you never know with MS, that can VERY quickly kill off parts of the brain (days / weeks) giving a similar result with no time to plan. Also too much php coding can have the same effect lol |
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| Suzanna |
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Joined: Thu Apr 12 2007, 05:47PM Posts: 4 |
i'm sorry- i am but a mere 22 year old student..... is an IFA an independant financial adviser? and would they be pricey no? oh well. i'm thinking i will just take my chances.... cheers for the advice though. 
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| Barry |
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Joined: Tue Jan 16 2007, 11:17AM Posts: 11 |
There are basically two types of Independent Financial Advisor, those that charge you and those that receive commision on what they sell. The former tend to be much more independent when giving advice because they don't push the policies which are more lucrative for them. | ||
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