TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Uncategorized

Scottish Provident wriggle out of paying £240,000 in life insurance

by souhaib
September 29, 2020
in Uncategorized
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

Agile Time Management Project Management

Pfizer says it expects data on COVID-19 vaccines for children in ‘early part of 2021’

John Oliver on the new 'Last Week Tonight' season and if Trump was good for comedy

Scottish Provident won’t pay out £240,000 in life insurance until policy holder proves he has less than 12 months to live

By Larisa Brown for the Daily Mail

Published: 00:00 BST, 27 June 2012 | Updated: 16:02 BST, 16 August 2012

Forced to stay at work: Motor neurone sufferer Michael Onyett

Last summer Michael Onyett was given news every person dreads to hear.

He was diagnosed with motor neurone disease, an incurable illness that causes muscles to slowly waste away.

The father of two could have weeks left to live — or months or even years. One of the horrors of this condition is that doctors can never be sure.

But this uncertainty has allowed insurer Scottish Provident to wriggle out of paying Mr Onyett £240,000 on two life insurance policies with terminal illness benefit.

And despite paying more than £30,000 in premiums, he may never be entitled to this money unless he can get a doctor to say he has less than 12 months to live before May 2015.

If he dies after that date, his family won’t get anything.

His wife Debbie, 60, a former export worker, who has been married to her husband for 40 years, says: ‘I’m watching my husband die and there’s nothing I can do to help him.

‘His muscles will all slowly go, he won’t be able to swallow food — then, ultimately, the disease will hit his heart. We don’t know how long he has: it could be six months or it could be a year.

‘We thought as he had a terminal illness we would be able to claim our insurance money. We were never told otherwise. All the time you are  paying into it and you don’t know it won’t cover you.

‘It’s heartbreaking that I’m watching him die while having to fight with an insurance company.’

Mr and Mrs Onyett took out the Self Assurance term and mortgage policies with Scottish Provident in August 2002 after consulting a friend who was a financial adviser.

They pay £83 a month into one and £177 into the other. Should either of them die or be diagnosed with a terminal illness, they were told the policies would pay out up to £240,000.

 

Last summer, Mr Onyett went to see the doctor after he had started to slur his speech.

He was diagnosed with motor neurone disease — the same incurable illness scientist Stephen Hawking has.

He was told people with his condition were likely to live for only two years at best.

Since then Mr Onyett’s condition has worsened: his speech is slurred, he finds it difficult to swallow and he frequently chokes.

Despite this, he has been forced to keep working as a carpenter in order to pay off the £320,000 mortgage on the couple’s £500,000 thatched farmhouse in Essex.

Mr and Mrs Onyett believed that the diagnosis would at least allow them to claim on the policies they had loyally paid into. This would allow him to quit work and spend his last days with his beloved wife.

But Scottish Provident has refused the claim by triggering a clause in the policy. This says terminal illness payouts can only be made to someone with less than 12 months to live.

The Onyetts say this was buried in the small print and was not included in any paperwork they were given when they took out the policy.

Scottish Provident insists it was included in two documents — one 25 pages long and the other 24 pages — which the couple should have been given by their financial adviser.

Money Mail asked the broker, Trevor Oakley from PBF Financial of Basildon, Essex, whether he had gone through the documents with the Onyetts.

He says: ‘Do I go through them? No, not really — not aware of going through 28 pages of a life insurance policy. People get given stuff and they have a look at it. If they want it, they take it.

‘I don’t know what the terms and conditions are under terminal illness. I have no idea at all.’

The independent complaints body the Financial Ombudsman Service says any significant clauses in insurance policies should be highlighted by the person selling the policy at the time the cover is taken out.

Penny O’Nions, an independent financial adviser from The Onion Group, says: ‘In my opinion, the broker is duty-bound to point out this extremely important and fundamental element to the clients, and the insurers have a lack of transparency in their literature.’

More than two million people paid into new life insurance policies in 2010. Most of these are sold with a bonus of terminal illness cover.

A spokesman for Scottish Provident says: ‘The policy documents, issued when the policy was taken, state that we will pay a terminal illness claim if it is in the opinion of the medical specialist that life expectancy is less than  12 months.’

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Tags: dailymail moneyusa today money
Share30Tweet19
Previous Post

Wear Them Like the NBA Pros

Next Post

Purdue suspends 13 athletes for party that violated coronavirus pledge

souhaib

Recommended For You

Agile Time Management Project Management

by souhaib
March 19, 2021
0

Time management Project management is very important.  If you are an owner of the company often the CEO without being the managing director, the one who must be...

Read more

Pfizer says it expects data on COVID-19 vaccines for children in ‘early part of 2021’

by souhaib
February 11, 2021
0

Both Pfizer Inc and Moderna Inc say they expect to have data on how well their coronavirus vaccines work in teenagers later this year.Currently, immunizations against COVID-19 are...

Read more

John Oliver on the new 'Last Week Tonight' season and if Trump was good for comedy

by souhaib
February 11, 2021
0

John Oliver talked with USA TODAY TV Editor Gary Levin about the new season of "Last Week Tonight" and why he won't miss President Trump.        Source link

Read more

Dr Fauci declares April ‘open season’ for COVID-19 vaccinatoins

by souhaib
February 11, 2021
0

Dr Fauci declares April 'open season' for any American adult to get a COVID-19 vaccine and predicts the 'majority' of Americans will have two doses by fallDr Anthony...

Read more

Biden administration fears it could take nine months to reach herd immunity

by souhaib
February 11, 2021
0

The US may not reach herd immunity and return to some semblance of normalcy until Thanksgiving at the current pace of COVID-19 vaccinations and speed of variant spread,...

Read more
Next Post

Purdue suspends 13 athletes for party that violated coronavirus pledge

No Result
View All Result

Recent Posts

  • Are They Worthy of The Price tag?
  • Why Carlyle’s Billionaire Founders Had Adequate of Their Decided on Successor
  • Pup Labs Reviews 2022
  • Iran places first import order with cryptocurrencies -Tasnim By Reuters
  • In the shadow of Hiroshima and Nagasaki

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide