Hi does anybody know if you have life insurance and mortgage insurance can you make a claim with a diagnoses of ms? Or does it have to include additional cover like criticall illness? …a bit confused as policies are so hard to trawl through…thanks in advance
thats hard to say on just a normal one. you would have to read through it or phone your insurer.
im may be wrong so dont quote me on this but i think you need ms to be on the critical illness list. not all critical illness policies have ms on
It’s just so confusing only asking as we got a statement this morning reg insurance and it looks like we have more cover than I thought but who knows ill contact them and see if you don’t ask and all that nobody’s gonna tell you!..Emma x
I’m not sure what’s being referred to here, as there isn’t a ‘mortgage insurance’ as such…
To summarise what cover might usually be taken, I hope this helps a bit anyway:
Basic Life assurance pays out a lump-sum on death - some mortgage providers will make it a term of the borrowing that life assurance is in place but not all of them. Some life assurance policies have a terminal illness benefit, this won’t cover MS, as thankfully MS isn’t terminal!
Basic Critical Illness cover pays a lump-sum on diagnosis of a stipulated listed illness, so yes, some providers do not cover MS, best to check the terms of your policy.
Some sickness/income protection/payment protection policies, may pay a regular amount for a period of time but it won’t pay a lump-sum, it’s designed to replace some of your income your income or cover repayments
Hope that’s of some help - if in doubt it really is best to look at policy docs
Emma, sorry hun, I just read your comment, were you asking? Send me a message if you want and I might be able to help with what your policy docs mean xx