# Serious Illness



## Slim33 (17 Jan 2007)

I have had a serious illness policy for a n umber of years but I am told that if I did actually have a serious illness then it is very hard to claim against these policies. Has anyone any advice on this type of policy


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## ClubMan (17 Jan 2007)

Slim33 said:


> I have had a serious illness policy for a n umber of years but I am told that if I did actually have a serious illness then it is very hard to claim against these policies. Has anyone any advice on this type of policy


You need to read the terms & conditions of any specific policy carefully to see in what circumstances and for how long they would pay out. Often the list of illnesses is very, very specific - e.g. not simply cancer but specific types and so on. Sometimes the policy will only pay out for a limited period of time. You need to shop around very carefully for such cover.


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## SeanA (17 Jan 2007)

Yeah have heard that too, sometimes the serious illness is actualy a specific list of ailments.


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## RS2K (17 Jan 2007)

It always is a specific list.

The main ones are heart attack, stroke, and cancer. All have detailed descriptions.

Anything else is known in the trade as "bells and whistles".

All S.I. policies have a "survival period" which means for example if you suffered a heart attack and died the next day, the claim  would not be paid.

I maintain properly structured VHI/Vivas/BUPA cover, D.I.S. or self employed term assurance, and PHI provide better overall protection, and premiums for all of these qualify for some tax relief.


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## Slim33 (17 Jan 2007)

Thanks for comments. I have D.I.S. and BUPAcover and I was thinking of cancelling the serious illness


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## Budgie (17 Jan 2007)

The devil is in the detail with these policies.

A heart attack can be described as a "myocardial infarction in which more than x% of the heart muscle becomes immobile...."  That means that if you have a heart attack but it is quite serious but not very serious there is no payout etc. etc.


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## tee12 (23 Jan 2007)

Yes, be sure to look very close at all of the fine print in these specific illness type policies.


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## Megan (14 Mar 2007)

My brother-in-law was diagnoised with prostrate cancer 9 months ago. He has had radium treatment and has made a good recovery. He is self employed and had serious illness insurance with BOI. He was paying approx €112 per month. 
My sister made enquiries in July as to how much he would receive if they were to claim and was told €35,000. One thing with another she didnt get the forms filled out until February 2007 and has now received a cheque for the exact amount she was told in July even though they have being paying the monthly amount up to March 2007 which is approx €1,000. She made enquiries from BOI and was fobbed off with some story that they make up the amount every quarter and had the claim not being paid out until May they would have got another €2,000. It just doesnt make sence or are we missing something here.


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## Ravima (15 Mar 2007)

SI cover usually is for a defined sum. If the sum was €35K, then it does not matter when the claim was made, the benefit is €35K.


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## RS2K (15 Mar 2007)

Megan said:


> My brother-in-law was diagnoised with prostrate cancer 9 months ago. He has had radium treatment and has made a good recovery. He is self employed and had serious illness insurance with BOI. He was paying approx €112 per month.
> My sister made enquiries in July as to how much he would receive if they were to claim and was told €35,000. One thing with another she didnt get the forms filled out until February 2007 and has now received a cheque for the exact amount she was told in July even though they have being paying the monthly amount up to March 2007 which is approx €1,000. She made enquiries from BOI and was fobbed off with some story that they make up the amount every quarter and had the claim not being paid out until May they would have got another €2,000. It just doesnt make sence or are we missing something here.



Pay an Authorised Advisor to check the policy wording and conditions for you.


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## Megan (15 Mar 2007)

Ravima said:


> SI cover usually is for a defined sum. If the sum was €35K, then it does not matter when the claim was made, the benefit is €35K.


I dont think so as they were told if the claim wasnt paid out until May they would have got another €2,000 that is €37,000 in total.


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## upport (3 Apr 2007)

If the policy is still in force the premium is providing other benefits eg other specified illnessess or perhaps its in joint names and the 2nd person is still covered.If its a single life policy and no longer in force due to the claim being paid then normally premium is refunded from time of diagnosis.
The amount payable is normally the sum assured at date of diagnosis and may include interest at the discretion of the insurer.Normally the sum assured only increases automatically if the policy is indexed linked.The claim was settled quick i.e. forms submitted in Feb 07 and claim paid in March 07.Hope your bro-in-law has a speedy recovery.


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