Hi everyone,
My brother is about to finalise the mortgage on his first property. He has signed up for serious illness cover, and while completing the forms in the PTSB office honestly answered the question about family medical history, stating that our father died of bowel cancer. Nothing was said about this at the time, the forms were signed etc. Now, two weeks later he received a call saying that his premium will be more expensive because our dad died of bowel cancer. (€100 per month)
Has anyone else had experience of this? I understand the hereditary factor and that we have an slightly increased risk of developing the disease compared to the average Joe Soap but we’re not guaranteed to get it! And my brother is a healthy 30yr old so the odds are certainly on his side! I feel the insurance co is scaremongering. The reason I say this, is that both my sister and I bought houses within the past year with the same bank / insurance company and not a word was mentioned about this even though we answered the family medical history question honestly. This leads me to believe that the issue is not so much about risk for them but more about making money!
Has anyone had any experience of this? My brother is going to tell them to stick their serious illness cover but I would I would be interested to hear if anyone has been in a similar situation because I’ve never heard it crop up before.
Thanks in advance you’re your advise / replies.
My brother is about to finalise the mortgage on his first property. He has signed up for serious illness cover, and while completing the forms in the PTSB office honestly answered the question about family medical history, stating that our father died of bowel cancer. Nothing was said about this at the time, the forms were signed etc. Now, two weeks later he received a call saying that his premium will be more expensive because our dad died of bowel cancer. (€100 per month)
Has anyone else had experience of this? I understand the hereditary factor and that we have an slightly increased risk of developing the disease compared to the average Joe Soap but we’re not guaranteed to get it! And my brother is a healthy 30yr old so the odds are certainly on his side! I feel the insurance co is scaremongering. The reason I say this, is that both my sister and I bought houses within the past year with the same bank / insurance company and not a word was mentioned about this even though we answered the family medical history question honestly. This leads me to believe that the issue is not so much about risk for them but more about making money!
Has anyone had any experience of this? My brother is going to tell them to stick their serious illness cover but I would I would be interested to hear if anyone has been in a similar situation because I’ve never heard it crop up before.
Thanks in advance you’re your advise / replies.