MS and life assur/mort protection

[Guzzyhf]

Hi
I have Multiple Sclerosis so I know that serious illness cover would be restricted and/or loaded if I apply.
But wondering about life assurance and mortgage protection - is it possible to be refused cover? How much can loading be? is there a limit?
I am sticking my head in the sand on this one - got quotes for a variety of products from a broker, but haven't sent them to my GP. I suppose I'm finding it hard to hear how much of a financial liability I may be judged.
I am thinking that I need good independent financial advice so I am not tying up my money in a product that may be so restricted it may be useless. Any advice on choosing a finanacial advisor?
Thanks
Guzzy

 

[ClubMan]

I presume you know that the [broken link removed] allows lenders to waive the normal mandatory requirement for owner occupiers to have mortgage protection life assurance for loans on their PPR in a case where an individual cannot get cover at all or only for an exorbitant premium? Lenders are not obliged to waive this requirement but some do. Also lack of such cover is a risk if you have dependents who might find it difficult to meet the mortgage repayments in the event of your death.

I don't understand your point about sending stuff to your GP. Do you mean for him/her to fill in the medical details before returning them to the underwriters for assessment?

 

[Guzzyhf]

Hi Clubman
yes I have to send in detailed medical info and he has to verify and write extra feedback on my situation, as far as I know.

Yes I do know about the fact that it can be waived but I actually DO want to get it, but obviously this is dependent on just how much it's loaded. I just wondered about the wisdom of the product or is there another way to approach the situation? Hence the question about how to find good independent financial advice.

Thanks
Guzzy

 

[ClubMan]

I just wondered about the wisdom of the product

What specific product? You mention life assurance and mortgage protection above but mortgage protection is a type of (usually basic) life assurance that is simply linked to the mortgage (assigned to the lender) and of the duration of the mortgage. Perhaps you can explain a bit more?

Have you already seen this thread?

Mortgage Protection and Mortgage Repayment Protection Policies