Hi , can anyone give me guidance of how to approach insurance and pension company? My husband has been given confirmation letter from his oncologist that his condition will not live beyond six month .
he has a life insurance and private pension. Which will mature end of this year . Has anyone been through these claims , is it straight forward ?
Thank you 🙏
I'm so sorry to hear this Ace467. I'm afraid I know nothing about private pensions or life insurance (having neither). I do know that being an executor is complicated but made a lot easier if your husband would obtain A Lasting Power of Attorney in your favour
Sorry to hear of your husbands problems. I would ring both companies and explain what’s happening. They should be able to help you and may want a copy of the letter from the oncologist. Also, as peege suggests, a Lasting Power of Attorney in your name would be a good idea. If you have problems with anything then get help from the Citizens Advice Bureau or Asthma+Lung UK helpline. Thinking of you. Xxxx❤️
Hi Ace the number is 0300 555 2800 during office hours Monday to Friday xxx
I'm so sorry that your husband has received this prognosis. I can't add to the suggestions already made. Thinking of you at this sad time xx
I am so sorry to hear of your husbands diagnosis Ace 467. I'm sure one of the suggestions by Sassy59 would be worth trying. I hope you find satisfaction with your concerns. Wishing you all the very best at such a difficult time, thinking of you xxx
Hi I am so sorry to hear this. Doesn't your husband have a social worker or special person allocated to him? They should be able to deal with this on his behalf. He should also be offered palliative care too. As far as benefits go if he has confirmation that his condition is terminal within 6 months then special rules apply. The money should be started within 2 weeks under these special rules. Have a look on gov.uk site.
When my husband was diagnosed with stage 4 lung cancer in January 2020 doctors said he has a few months, the last two years has been a long rollercoaster ride . Last year November doctors again said he only has a few months when the cancer metastasis into his brain . I was told to see the hospice people, but I refused to accept that . Now that I’ve been given the confirmation letter , it’s time I need to get his finances sort it out and not loose out on any pay out he deserved. I’ll speak to my oncologist next week when we see him again .
Thank you hypercat54
Have looked for you and found this. If your husband is state pension ageor older then Attendance Allowance will usually apply unless he is on PIP already for an existing claim.gov.uk/pip/claiming-pip-if-...
My husband will 55 in December , state pension is far away ! He’s on ESA & PIP
Hi sorry about your news. As hypercat54 says depending on your husband’s age he would be entitled to personal independence payment (PIP) or Attendance Allowance.With regards the life insurance and pension it may be that some one like CAB or Ageuk can give advice on this. I would have thought notifying them of situation is warranted but am no expert in these matters.
I see you on are the Roy Castle Lung Cancer Foundation site and wonder if they might be best placed to advise/support you??
I’ve spoke to the McMillan people, their advice is speak to the company direct English is not my first language and filling in forms I struggle to put into proper English.
I worried I might makes mistakes and louse out on payments , as I’ve heard life insurance company will try not to pay out or reduce the amount entitled to .
Im sorry to hear that Ace467. I would give the BLF helpline a call they will probably be able to guide through what to do who to call ect. Hopefully they will be able to make it straight forward for you
Hi there - I'm so sorry to hear of your husband's prognosis.
Firstly I would suggest that despite the glum outlook hat you and your husband continue to live your best lives each day.
When my father was diagnosed with fibrosing alveolitis (the old name for PF) over 30 years ago, his prognosis was a couple of months, not longer, but he lasted over 2 years. He was one determined man!
However, going back to your specific query, please do just call both companies and inform them of your husband's diagnosis and prognosis.
In terms of his life assurance, many companies now have arrangements to pay benefits early for those with a terminal prognosis, but not all, so the initial call would help clarify that.
If it transpires your husband's policy can pay out, then just ask them for claim paperwork.
With pensions, with a terminal diagnosis, there us an arrangement fr retirement on the grounds of ill-health, so again, just ask for claim paperwork.
In both instances, the companies would require a report from your husband's oncologist (or whomever gave the terminal prognosis) that this is indeed the case. The Company pays the costs of any such reports.
One thing I would say is to be very, VERY mindful that taking benefits from these arrangements could impact on any means tested benefits you might be achieving. Once you have the money, it counts towards savings.
I don't say that to discourage taking benefits, but it is vital you understand the potential.
You also might find a call to MacMillan, Marie Curie or any of the other organisations supporting folks in your current predicament. They know a LOT of "stuff".
Again I'm so sorry you find yourselves in this position, and I hope you and your husband can make more good memories in the times to come.
Thank you for your all details MMaud. I’ll definitely find out a bit more before jumping into it . I’ve recently giving up work to take full care of him . So my income has drastically reduced.
The life insurance was put in place a few year ago to pay off the mortgage if anything happens.
If you haven't already done so, please do see what financial support is available to you.
When my father was in a similar position (30 years ago!), he took retirement on the grounds of ill-health from his employer, then my mother grave up working to look after him too.
Dad's employer sent out "someone" (no idea what to call the magician), to have a chat with my folks and promptly organised all sorts for them. I can't recall if it was carer's allowance or attendance allowances, or what, but it was there, and not means tested.
My folks weren't rolling in it, but would never have qualified for anything means tested.
You never know, there could be something out there to help you - whether or not you take take your husband's pension or life cover.
Some of the Mac Nurses are also well up on this, but there have been most of the useful contacts above. My best to you both + look after yourself.
Thank you SORRELHIPPO for your kind thoughts 🙏
Thank you for your all details . I’ll definitely find out a bit more before jumping into it . I’ve recently giving up work to take full care of him . So my income has drastically reduced.
The life insurance was put in place a few year ago to pay off the mortgage if anything happens.
I do hope yr able to get the sorted quickly and easily as u and hubby adjust to hubbys prognosis.xx
Sorry to hear your sad news. Some pensions provide ongoing payments to surviving partner, and start paying on this diagnosis. Power of attorney is essential. Hope you can get this sorted quickly.
Thank you Morrison10 will look into it 🙏
Hope when took out his life insurance fully disclosed all his health conditions then, I know some people are reluctant to do so. Good luck.
If you take out Powers of Attorney, be aware that there are two types: one for health and one for financial matters. Do seek guidance about these if you are having trouble concentrating. So sorry you're having to walk this difficult road together. Thinking of you both.
Hi Ace467. First I am so sorry to hear about your sad news. I am a retired Independent Financial consultant with 35 years experience.My advice is this. Regarding the life cover. If your husband is terminal your insurance company will require a letter from your husbands doctor confirming his condition. The Insurance company will pay out the benefits immediately. With regards the private pension I would recommend you do not draw this until anything happens to your husband. This is because this contract will pay out the whole of the fund value tax free upon death. If you draw it before then only 25% of the fund is tax free and the remainder of the pension is potentially taxable at firstly your husbands marginal rate and then if it is in your name at your marginal tax rate. Any capital Inheritance between husband and wife is exempt for Inheritance tax. You can do alot more with a lump sum than you can with a pension. Apply for a fund value from the pension company. Due to the volatility in the stock market at the moment due to the war in Ukraine , energy and commodity prices increasing, inflation predicted to hit 8% this year I would recommend you ask the pension company to put your husbands pension into lower risk funds possibly cash/gilt fund. This will protect the value against adverse market conditions. If you have a financial adviser speak to him/her.Most importantly you do not say whether your husband has made a will. If not I highly recommend you get him to do so. This makes dealing with the estate so much easier. Regarding lasting power of attorney. This would allow you to deal with your husbands finances whilst he is living but may be too frail. The only problem at the moment is the backlog due to the pandemic is 24 weeks.... I was quoted recently.I hope you find this advice useful. If you need any more help just ask!
Sorry, Rick, but I believe that an individual taking pension benefits from a defined contribution scheme, such as a personal pension, on the basis they have a terminal illness is eligible for the full fund free of tax.
Of course, if such a fund pushed the individual's personal estate into the realms of inheritance tax, it could be tricky, without thought and planning.
unbiased.co.uk/life/pension....
".... What if I have a terminal illness?
If your life expectancy is less than one year due to serious illness, you may be able to take the whole of your pension pot as a tax-free lump sum (provided it is a defined contribution scheme). You would need to be under 75 to do this (over age 75 the lump sum will be taxed like ordinary income), and your doctor will need to provide confirmation of your condition. ...."
Apologies if I have this wrong.
Well. If you read my advice you will see that is what I have explained. As I said it is the Only time you can take a pension fund tax free ie under terminal illness terms. Also you are wrong regarding Inheritance tax. It is exempt between husband and wife on death. For any other beneficiaries the IHT level is £325,000 plus an additional £175,000 property exemption if the beneficiary was a child of the deceased .
Thank you rick2525 for your detail knowledge in this , at least it has given me a piece of mind now . Firstly I ‘ll giving the insurance company a call to start the claim under terminal illness.
Secondly the pension will mature on his 55th this year December!
I understand that the company will pay out the full value of the pension if he died before the mature date but what if he survived by the mature date ? I know he is allowed to draw out 25% tax’s free and then a monthly payment.
My questions is if he died after the mature date dose the whole pension pot is finished or does it automatically get pass on to the surviving parent ? Or like you said they will pay out the whole of the fund after if he died even after the mature date?
At the moment we’re paying a monthly payment for the pension? Does that stop upon the mature date?
And about asking the company to put the pension into a lower risk fund , is this relevant now if the pension is coming to the end this year?
We don’t have a financial advisor but we’ve draw up a mirror will last month.
Do I really need POA if we owe everything in our joint names?
Husband’s health now is not to a point where he can’t think or too frail yet yet .
Sorry for asking so many questions ,
Hi Ace. My advice would be to seek Independent Financial advice. Depending who your husbands pension is with they should recommend this and many will not pay any benefits unless it is signed off by an IFA. This is because the rules of pension are complex and varied. Without an expert knowing all your Finances the pension company could be liable if they did not ensure you were fully informed of all your options. For example some older schemes offer guaranteed annuity rates typically 8 % a year. This all needs checking. Both your incomes now and particularly yours going forward needs to be taken into account. Your tax status and needs for the future need to be taken into consideration. So my advice is. Seek advice. There is too much for you to consider looking after your husband at the moment to rush into something you may regret in the future. Take your time.Your husbands pension upon death would form part of his estate as the whole fund. Whilst the "maturity" date is December your husbands 55th birthday it does not have to be taken then. It could in practice been kept until age 75!It us your decision. He MAY be eligible with the pension companies permission take a terminal illness benefit now.. whole fund. The monthly regular premium comes to a stop
1. Upon death
2. Upon maturity
3. Whenever you want to stop it......now if not affordable. But just check with pension company there are no benefits that can be lost
eg life cover...some schemes have this....guaranteed annuity rates. This is why I recommended you take professional advice from an IFA before foung anything.
I recommend a lower risk fund because unlike life cover (which is guaranteed) a pension decision can take time to sort out. The stock market is very volatile. Due to War in Ukraine effecting world markets. Your husbands pension will undoubtedly be in stock market investments.
I am pleased you have done wills. This will make it easier for you to sort out the estate. I am assuming you are the appointed Executor perhaps along with another family member or friend.....advisable. Regarding POA. Yes I do recommend....for you both. You are both at the moment able to make your own decisions...that dosnt mean this is the case tomorrow or next week . ..month. etc. 6 years ago my father died suddenly of Lymphoma. He was my mothers carer who was in late stage dementia. I had POA on both. Without it I would have had no say in my mothers welfare for which care home she went in. Her medical welfare or her finances dealing with local authorities. It is a most valuable document that may never be needed or used. But if you havnt taken one out when you have full mental capacity it is too late when you havnt
I am so sorry to hear your news Ace467. It looks like you have been given some good advice . My neighbour (when alive) contacted a case worker at Care and Repair who came out and filled the forms in for him, perhaps you have something like this where you live, failing that Citizens Advice may be able to help with the forms x
Anything to do with insurance etc especially with the problem you have is not without problems but you knew that them and us situation.
You have been given a prognosis ive read the replies Peege makes most sense but power of attorney is expensive through a solicitor.
Age concern have solicitors may be worth going down that road
But whatever you do i hope it works out
MY WIFE USED TO SAY DONT LET THE BASTARDS GRIND YOU DOWN
Makes Sense xx
Thank you 🙏, I’ve ask a solicitor, but these weren’t their work , so I was told to speak directly to the company .
Crazy Solicitors did my POA this country dont make any sense any more Take Care
So sorry to hear of your sad news, I know from experience these things are very traumatic. When my hubby got a similar prognosis the hospital specialist nurse was very good and got a form done to verify within a few days. With reference insurances ect most companies will deal with the wife in the case of such a prognosis , your husband can sign a proxy form for you to deal with it if you don't have a power of attorney in place. Most banks have a bereavement section who are very sympathetic. Sadly Power of attorney set ups are taking over twenty weeks now to go through , all really need to be contacted by phone which can be quite long and drawn out till they know what the circumstances are. Not what you want when things are so stressful for you . Hope this info helps. Main thing you need is your marriage certificate. Try not to push yourself too much make a list and deal with the most important first, i.e how will you manage, pensions , insurances , outgoings on the basis your husband is no longer well enough to do these things. My thoughts will be with you take carex
Thank you Katieoxo60, sorry to hear about your sad news too , I’m aware of some of the helps from the hospital, I ‘ll ask them too . I’ve thought about POA , but because I’m the one looking after al our financies and all our assets in on our joint name ( except his private pension and his individual life insurance) I didn’t think I need it , so went ahead making just a mirror will in place .
Maybe you are already named in his private pension , usually insurances have a beneficiary which might already be you. So I would definitely inquire direct with the company and explain your dilemma.
Thank you for your advice 🙏
So sorry about your sad news. My advice would be to ring citizens advice they may have someone who can help you if not they will be able to advise you were to go for this help. Thinking of you take care Mags
Hello Ace467. I am sorry to hear about your Husband. I would have thought he has a Personal pension advisor that would sort things out for him. Reference the life insurance providing he has made a will leaving everything to you. You dealing with the life insurance company shouldn't be a problem. Also can I just say to everyone with savings. Ask your bank or Building society. How much you are allowed in savings before having to go to probate. Because making a will doesn't mean you automatically are just given the money of the deceased. My father died and made a will. But because he had £16,000 in the Nationwide. It was a thousand over there limit at the time. So even with the Will. I still had to go through Probate. Hope this helps everyone and you get things sorted out Brian
I can't add to all the brilliant advice already given, but I just wanted to say how sad I feel for you. xx
Hope your keeping well Leo60 Not seen you posting for a few days unless I missed it. Brian
Hi Brian! Nice of you to ask, I am ok thank you 😊 I hope you are as well? I have been looking after my Dad this week (he has seizures) whilst his wife is away. Hence I have possibly not been on here as often! Much as I love my dear old Dad, I shall be very pleased to get back home on Wednesday! Take care xx
I can not thank enough for all the advice given. These questions were on my mind from day one he was diagnosed, but wasn’t really sure when it was the right time to start claiming. Should I have done it earlier?
Hi Ace . No is the answer to this question. There is no reason for you to think this. Your main priority is to each other. So it's good you have joint bank accounts as this means you will have continued access ie the account will not need to be closed. You will require to account for 50% of each account for estate purposes. Each financial institution/bank has it's own limit for probate but is generally around £25,000 per individual. At the time each company will require a copy of the death certificate. I dont know how savvy you are for completing your own forms so apologies if I am going to far for you. But you can save thousands on solicitor costs if you are able to do it. The probate office is very helpful for supplying the forms and there is a probate helpline Tel 0300 123 1072. If you are able you can also obtain the lasting power of attorney forms from the office of public Guardian Tel no 0300 456 0300. Or alternatively fill them in online. With an LPA there are two you require. One for Finance and another for Health and Welfare. The application fee is £82 each but maybe cheaper depending on your income ie. It is means tested. Do not be put off. It is not as complicated as you think.
Thank you rick2525, I don’t quite understand about the probate things. If the estate is in joint names. What happen when the other has pass away ?
We’ve a mirror will , so doesn’t that mean the estate is pass on to the surviving parent.
Sorry if I didn’t understand your advice there
You have my sympathy as my hubby is also been told similar although his is likely to only be a few months , my hubby has no life insurance or private pensions that we know of so havnt got the same issues.
Hi Canabeans , thank you for your thoughts🙏. It’s hard coming to terms knowing that your love ones are not here to see the future with you , hope you and family are going ok x
Lost my husband to cancer 7 months ago firstly you don’t need power attorney any more if critical illness is attached to the insurance they will pay up early , when my husband past away there is a government backed department called one stop which does everything from cancelling his passport , driving licence, taxman and sorts out his old age pension it’s brilliant . Private pensions you have to see too , I am so sorry for you both .
I’m so sorry to hear your news awful at such a young age. I’m afraid I have no idea and I see there’s lots of help on the replies especial a retired financial advisor. How you manage this with your emotions must be extremely hard
Yet another example of how life is unfair!
Hello Ace. Firstly, I am very sorry to hear of your husband's prognosis. This must be such an emotional and difficult time for all of you. I am sorry to say I cannot give you advise but I am so glad that so many members have stepped up to help. Sending you a gentle hug.
Cas xx 🍀
So sorry to hear of this prognosis, very sad... I reckon that your best bet is to consult the Citizens' Advice Bureau. Best wishes 🧡
Thank you 🙏
Is Trimbow causing me health problems
Trimbow with emphysema, bronchiectasis and aspergillus causing problems 
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