March 24, 2021

Do Life Insurance policies payout?

Do Life Insurance policies payout?

  • Our annual review call highlighted that our customer could claim on his Critical Illness policy and resulted in a £119,251 payout
  • In our client’s words – “I was expecting possibly £1,000 but not over £119,000 – that is a life-changing amount of money which we will use to change our lives and those of others”
  • Our priority post-claim was to help our client secure replacement temporary cover after he was given the ‘all-clear’ from testicular cancer
  • With our expert advice, our client secured comprehensive cover at standard rates (no increase in premium) 12 months after he’d been clear of cancer

Our Annual Review call was “Life-Changing” for one customer

We contact our clients annually to review their cover as part of our on-going service. The purpose of our call (and the subsequent letter) is to remind clients of what they are actually covered for and to check that the cover still meets their needs. This is one reason why we have retained 93% of all our clients over the last 5 years.

Our review ended up being life-changing for one client. During the call, our client shared the news that he’d been diagnosed with testicular cancer and was due to start treatment; we reminded our client that he had Critical Illness cover and we could support him in making a claim.

They do payout

In his own words:

“To be honest I wouldn’t have ever thought of claiming and thinking back I should have, however, my claim was put forward by Future Proof. I thought my claim would be rejected on a technicality, we all think that I suppose, any loophole to escape payment. My legs went weak for the second time this year but with much happier life-changing news, my claim had been approved to the amount of £119,251.65. I was expecting possibly £1,000 but not over £119,000 – that is a life-changing amount of money which we will use to change our lives and those of others.”

Securing Replacement Cover after a Critical Illness Claim

We continued to keep in touch with our client and received the amazing news that he’d been given the ‘all clear’. Our next priority was to help him arrange replacement cover, and after a fair amount of research and several “we won’t be able to offer him cover for at least a year” or more in some cases, we recommended that we would help him to apply with an insurer who would offer him life cover immediately (with a loading of £5 per £’000 of cover).

Expert Advisers are here to help you get the best cover at the best price

Owing to our client’s budget, he couldn’t afford the required sum assured but at least he could have some cover immediately. On the upside, during our conversations with underwriters, one company agreed to offer standard terms after he’d been 12 months clear of cancer.

True to our word, we helped our client obtain a replacement policy 12 months after he’d been clear of cancer. With our expert help, he then increased his level of cover by 400% for the same monthly premium.

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Our client’s testimonial

“Since my first call to Future Proof to my last, the service has been first class. The team always work over and above to provide a high quality and professional service. I have felt well cared for by Future Proof with all my needs taken into account, they never hesitate to offer you clear and concise advice but never pressurise you to make any instant decisions. Their communication is second to none and I have never had to chase them for any outcomes or quotes. I would recommend Future Proof without hesitation.”

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Call me back

Please feel free to read our Independent client reviews, or read about the team at Future Proof

Interested in related stories?

Jon’s moving story – being diagnosed with cancer.

Alcohol and drug abuse – can I still get life insurance?

The protection industry pays out over £5.7bn in claims in 2019

What questions will an adviser ask me?

Will my claim be paid?

Why you can trust Future Proof.

The benefits of an index-linked insurance policy

Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

Links to third-party websites exist for information only, and we accept no responsibility or liability for the information contained on any such sites.
The existence of a link to another website does not imply or express
endorsement of its provider, products or services by us or St. James’s Place.