Hi, I’m 51 and have BC with liver and bone mets.
We have mortage endowment policies which are due to pay out in about 6 years.
I’ve just noticed with one of them, a clause that states if you are diagnosed with a terminal illness (less than 12 months to live) they will pay out the full amount now.
Has anyone had any experience of this?
Jane xxxxx
Although I didn’t have one of these policies (I had a critical illness one which paid out within 3 weeks of claim going in), I know about them as I used to be a mortgage adviser.
Contact the company, explain your situation and ask about how to claim. I would also suggest you confirm the amount of cover you have for both the terminal illness and life cover. I would imagine there will be a form or two to complete(!!!) and they will need info from your onc and GP. You may need to persevere as not all companies seem to operate as smoothly as mine did. One word of warning - if it is a critical/terminal illness ‘rider’ rather than a separate policy, your life policy will stop at the time of payout so neither you nor your husband will have life cover after that. The money does not necessarily have to be paid off the mortgage either.
Good luck with it - sorry you’ve had to be in this position but that’s what these policies are there for. One less thing to ‘worry’ about.
Liz