Life Assurance questions

[di30]

Re: Life Assurance questions

You could be right, but sometime there is a separate form that you sign, especially if the app has been processed on line. I don't think I could do Scot wids on line in 2001 but the bank always has had a different system with different(higher) rates.

Right ok, I know she said it was sold directly in the branch, and she did mention that both herself and hubby completed separate forms for each single policy, so hopefully they will still hold the copies.

Cheers.

[mgfboy]

Re: Life Assurance questions

Oh just double checking, she is to ask them for a copy of the application form(s), I said there should have been one as the proposal form looks like it was separate, as there is nowhere to sign on that proposal questionnaire.
If they sent the above as listed earlier, shouldn't they have held the application forms as well, with them still being active accounts?

Thanks again.

You could be right, but sometime there is a separate form that you sign, especially if the app has been processed on line. I don't think I could do Scot wids on line in 2001 but the bank always has had a different system with different(higher) rates.

[di30]

Re: Life Assurance questions

Oh just double checking, she is to ask them for a copy of the application form(s), I said there should have been one as the proposal form looks like it was separate, as there is nowhere to sign on that proposal questionnaire.
If they sent the above as listed earlier, shouldn't they have held the application forms as well, with them still being active accounts?

Thanks again.

[di30]

Re: Life Assurance questions

Hi Di

I normally suggest that clients have two separate policies because the permiums normally arn't much more than a joint policy but give twice the cover and also making dealing with things like separation , divorce etc much easier to sort. But you are correct there is no reason why they shouldn't have a joint policy ( unless they wanted it assigned in her name)

You friend should ring them up and tell from the paperwork they have provided there is some incorrect info that needs sorting, this makes them aware and to a certain extent puts the ball in their court.

Thanks for that mgfboy.

I think she will be calling directly into the bank today to get it sorted with a bit of luck, cheers.

[mgfboy]

Re: Life Assurance questions

Hi Di

I normally suggest that clients have two separate policies because the permiums normally arn't much more than a joint policy but give twice the cover and also making dealing with things like separation , divorce etc much easier to sort. But you are correct there is no reason why they shouldn't have a joint policy ( unless they wanted it assigned in her name)

You friend should ring them up and tell from the paperwork they have provided there is some incorrect info that needs sorting, this makes them aware and to a certain extent puts the ball in their court.

[di30]

Re: Life Assurance questions

.....also just to remind, they have 2 separate ones, she said the bank would not allow them to have a joint one, goodness knows why, I didnt question it to be honest.
But surely that should be choice of the customer's?

She did say they have joint accounts with banking etc.

[di30]

Re: Life Assurance questions

Mate said she will contact them to ask them if they still have details of the application form, which I assume should include details of medical questions as well??

Lol, Scottish widows, sold by lloyds.

I note on the actual proposal a list of questions in regards of meds, friend been on meds for a number of years and before the policy was taken out, and details of medical history in the family are written as No.
With this being a proposal form, in my opinon it was done over the computer by firstly intermediary, then underwriters and the correct details should therefore be disclosed on the application form.
A reason of why I think she should ask for it, as it may be different to what it says on the proposal form by error "maybe".

If this is the case, and she or or hubby had to make a claim, she should make sure with them as well it is put right.

[di30]

Re: Life Assurance questions

Am having a little trouble scanning further at the mo, but the other info she's brought with her is a Policy Schedule.

This is of the cover, date of application November 2001

Commencement date, December 2001

Expiry Date, December 2033

Sum assured £31,250.00

Death or terminal illness: applies to the policy

Waiver of premium benefit, Does not apply to the policy.

Amount £10
Intervals Monthly
First payment date, 11 Dec 2001
Last payment date, 11 November 2033

Policy affected under trust. The policy will be held by the trustees in accordance with the terms of the trust documents, a copy should be retained with this schedule, and the policy provisions.

.................................................. .....................................
There is also paperwork (signed) Flexible trust application.
Summary & recommendations date of interview 16 November 2001 that includes needs & product summary, no details of medical history asked on this form.

Investments - No need identified
Pensions - No need identified.
Mortgages - No need identified
Income protection - No need identified
Protection yes level cover to protect family.
.................................................. ..........
A personal factfind form.
Details of both partners, occupation, income details.

Mr - Earned Income - £1.5 month

Interview date 23 November 2001
Mrs - None

[di30]

Re: Life Assurance questions

Proposal form completed by intermediary/bank worker in 2001.
No attached form to sign with this one.

[di30]

Re: Life Assurance questions

Right, have some bits of paperwork, will try to attach as soon as possible, if scanner lets me lol.
She said they did not send her the actual application forms, the proposal forms completed by the intermediary was separate to the application form, and nothing no signature on the actual proposal forms.

Just having a quick cuppa, she not stopping long but leaving her stuff with me for the day.

[di30]

Re: Life Assurance questions

Di if you want to scan it in , more than happy to look over it.

Okay, cheers will have a word with her.

[mgfboy]

Re: Life Assurance questions

She is popping round for cuppa and bring what she does have (paperwork), will take a looksie at it, not that I can do a lot, but can take a look, see what's what.

Di if you want to scan it in , more than happy to look over it.

[di30]

Re: Life Assurance questions

She is popping round for cuppa and bring what she does have (paperwork), will take a looksie at it, not that I can do a lot, but can take a look, see what's what.

[di30]

Re: Life Assurance questions

Sounds like it needs to be sorted ASAP then, if you friend was to die it would give the company a big get out clause.

I will give Dawn a ring shortly, I think she should get on to it immediately, to be on the safe side, cheers.

[mgfboy]

Re: Life Assurance questions

Thanks for that.

I am aware there are several serious health conditions within their family, brother for one, and was at the time of them taking it out, he is still here thankfully.

Sounds like it needs to be sorted ASAP then, if you friend was to die it would give the company a big get out clause.