Life insurance

[Dayperson]

Hi,

I'm wondering can you take out life insurance on someone with dementia knowing they may only have a few years to live? Specifically we are looking at the Post Office cover.

 

[love.dad.but..]

I don't know but would doubt it

 

[Lawson58]

If you could get any insurance company to give you cover, the premiums would be extortionate.

 

[nitram]

Have a look at 50 plus monthly payment plans.
Usually money back if if die within ~2years, then a period when it may be good value, after which premiums paid exceed payout.
They are all different, you have to do detailed research.

 

[Kevinl]

There actually is one that advertises on daytime TV a lot and they guarantee to give you the payout or all of your money back, whichever is the greater so you'll never get back less than you pay in is the claim. Problem is I can't remember the name of the company and as nitram says you do have to read the small print.
K

 

[love.dad.but..]

Interestingly since reading your post I mentioned this to a friend whose OH has dementia and because the over 50 type plans do not ask health questions they have the cover for funeral expenses.

 

[Dayperson]

I checked with the Post Office and they confirmed they cover it with no medical question asked. We got a £50 Argos voucher and £240 back on Quidco for £62 per month premium. If mum dies before the first year, we get 1.5 times what we paid in, otherwise after 1 year, £9,500 premium

 

[nitram]

The PO are reselling Royal London, sometimes it's better to go to the provider, sometimes not.

I looked at Royal London and found a comparison calculator that might interest you.

https://www.royallondon.com/life-insurance/over-50s-life-cover/

They may of course have excluded somebody who beats them on all accounts!