Whether or not Mark decides to purchase the property there is an obvious need for CI cover and IP. A...
Whether or not Mark decides to purchase the property there is an obvious need for CI cover and IP. As he has no dependants and no obvious current liabilities then life cover looks inappropriate at this stage.
If Mark decides to purchase a property, there will be heightened awareness of the need for protection. The recommended cover would be based on the individual needs and assuming his employer provides no protection-related employee benefits then Mark is likely to need CI cover of 4x salary, plus the mortgage and he should look to cover the maximum amount possible for IP.
As money is tight it may be appropriate to simply organise cover around the mortgage for both CI and IP. We can also offer our CI product with guaranteed premiums or five-year reviewable premiums.
The reviewable premium option will initially cost less, but Mark must be aware of the risks associated with this arrangement. Our CI product automatically includes life cover ' for the same sum assured ' at no extra cost.
We can also provide premium discounts if more than one product is purchased at the same time and in the future.
Due to his medical history, we would obtain the relevant data and assess as appropriate. The likely decision would be to exclude testicular cancer or any spread or metastases there from. From the evidence provided we would ensure we know details of all foreign travel, and surfing and snowboarding would be accepted at normal rates unless the applicant is engaged in advanced amateur competitions.
As he is looking to get married, Samantha could be added to the CI policy at any time subject to normal medical underwriting requirements.
