Mortgage Protection Insurance- Amendment to Include 'smoking' -Policy still valid?

[May07]

Hi All,

I have read through previous threads regarding Mortgage Protection Insurance etc. but still would welcome clarity on an aspect I do not see covered previously.

I took out Life and Critical Illness Cover when I got my first mortgage just over 3 years ago. However, when completing the forms I was not a smoker, had quit about 5 years previous. However, started to smoke socially again in the last few weeks and I am going to contact my Insurance Provider to advise them of this which I understand will increase my monthly premium for Life & Critical Illness Cover .

However can anyone advise me if I will continue to keep the same benefits of my current policy or will they now be null and void for a 'mid-term' period. I am currently awaiting medical test results which may mean I shall have to claim against the Critical Illness Cover (not a smoking related illness).

I suppose what I'm asking is that can the Insurance Company say that it was something that I had suffered from prior to starting my new Insurance Cover (to include the smoking) or should it just be all straight forward and that in effect I am just amending my current cover to include the smoking as opposed to cancelling my policy and setting up another one?

Any clarifications would be welcome.

Thanks, May.

 

[RS2K]

Inform your insurer immediately. If you told the truth at the time of application and are doing the same now, in theory all should be well.

If your condition is in any way connected with smoking, you may end up in a battle to get your claim paid.

p.s. If you can at all, give up the smokes. I hope you make a full recovery from whatever illness you have btw.

 

[PM1234]

AFAIK your smoking status relates to if you were a smoker/non smoker when the policy was initially taken out. As long as you answered this question truthfully at the time the policy should be valid. Of course once your smoking status changes you should inform the life co. of this to safeguard any future claims in much the same way as if you took up a high risk job e.g. diver or a high risk hobby e.g. skydiving.

Regarding your claim you should be ok as long as its not related to smoking in any way. The assurance company will investigate your claim before paying out to ensure this is not the case. Check the t&cs of your policy to see if they have a clause for a break in the policy. If you're asking if you should refrain from advising the life company re your smoking status until after you make a claim this is really up to whether or not you are willing to take the risk. Bear in mind they will request all medical reports etc. I would advise contacting the life co. asap. The truth is usually the safest option.

 

[May07]

Thanks for the replies, def. nothing to do with smoking so should be ok on that score. Checked the T & C and it doesn't make any reference to any break in the Policy, will contact the Provider today and hope it's all that straight forward, fingers crossed. Thanks again.