In this video I talk about our client who had been diagnosed with grand mal epilepsy. We identified a need for him to have life insurance, critical illness cover and income protection. Here I discuss the different insurances that we were able to arrange for Edward.
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Hi, so today we were talking to you about our client, Mr. E. Now, Edward came to us because he had clear protection needs to cover his mortgage, and also to cover his income in the event that he was ill, unable to work. He wanted to make sure that he would be able to get some income replacement into the household.
Edward came to us, 28-year old male, non-smoker, BMI in the normal range. He'd been diagnosed with grand mal epilepsy 10 years ago. His symptoms were of the severity where he would have one seizure per year, but he have been seizure free for five years and was on medication to help control the condition. Another thing that was a good indicator as to the severity of his condition, is the fact that he currently holds a full UK driving license.
We decided that we would obviously need to look at protecting the mortgage. His mortgage was around £142,000, capital repayments over 33 years. We were able to arrange a decreasing life and critical illness policy that would match the mortgage on £142,000 over 33 years for a monthly premium of approximately £27. That was at normal terms, meaning that that was the standard offering of the insurer. There was no special terms or price increases due to the grand mal epilepsy being there.
Edward also wanted to protect his income, so we arranged an income section policy of £1,500 per month to the age of 60. It would have a two-year claim period that would replace his income in the event that he couldn't work due to ill health. That came at a monthly premium of approximately £33.
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