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F E Smith
F E Smith, Advocate
Category: Law
Satisfied Customers: 16443
Experience:  I have been practising for 30 years.
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In 1999 my husband took out an assurance policy. Which

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In 1999 my husband took out an assurance policy. Which because we couldn’t afford to increase monthly payments to we didn’t realise our cover would decrease.
JA: Where are you? It matters because laws vary by location.
Customer: Trevia Camelford Cornwall Pl329UX. I should have said it was a joint policy.payable on either death.
JA: What steps have you taken so far?
Customer: Nothing we had a letter yesterday saying they ‘OldMutual wealth’ should have given us a review which they didn’t.
JA: Anything else you want the Lawyer to know before I connect you?
Customer: I am sorry I am not up on legal matters so don’t know what they would need to know.

Good morning. I will assist with your question - be aware this is an email not chat service therefore i maybe delayed in replying.

was this a 'term' assurance policy?

to pay out if one of you died before the 'term' ended?

Customer: replied 6 months ago.
Customer: replied 6 months ago.
Ok I feel I really would find it easier to speak to someone prehaps I could try another time.

I am sorry, but this is not a chat service. It’s an email reply board and therefore there may be a delay getting back to you because we have clients and travelling and other users to deal with.

Sometimes we will get back to you in minutes, other times it will be longer.

I see that you have requested a telephone call. I have been out of the office all afternoon but if you want to speak in the next hour or so on any time tomorrow, I am happy to do so.

I’m not certain what you are saying when you say that your covered decreased. It would normally remain static but obviously decrease in real terms because of the effect of inflation.

There are some mortgage protection policies which are designed to just pay the balance of the mortgage and they would pay out a decreasing sum assured.

There are also what are known as Gifts Inter Vivos Policies but they are designed to cover inheritance tax and only cover a relatively short period of time (7 years) so clearly it’s not that.

The insurance company is not normally under a duty to review your policy from time to time unless it said in the original paperwork that they would.

I would need a little bit more information about the type of policy and the decrease before I could answer further.

F E Smith and 6 other Law Specialists are ready to help you
Customer: replied 6 months ago.
Is it possible to get a phone call to***********please as a follow us to our conversation yesterday.

We spoke