Hi guys,
My partner took out a Term Life Insurance Policy over the phone with a TPD insurance and 'Living' Insurance bundle (or so he believes) back in 2013. He was sent the policy documents at the time. Unfortunately, he can't find the policy and fears it may have been thrown out. He did not receive an email with documents attached either.
At the time of taking out the policy, he requested one of their top covers ($1 Million in case of death and certain amounts for illness or TPD, etc.) and has been paying a premium of $180 per month.
Unfortunately, he has now fallen very ill with stage 4 cancer and today rang his insurer and advised them of his condition only to be told that he is only covered for life insurance ($500k) and not in the event of TPD insurance or the other 'living' insurance.
I have another friend who has a policy with the same Insurer who pays $33 a month for $379k.
My questions/ concerns are:
1) In the event that he misunderstood the communication over the phone, it doesn't make sense that a $500k insurance premium would be $180 p/m when a premium for $379k would only be $33
2) Would he be able to fight this on the basis that he has been paying premiums for the cover he believed he had even though he can't provide the policy documents?
3) If he can't find his policy documents, is there any way that we can review the voice recording from when the policy was taken out to confirm what was discussed and agreed upon?
It's obviously a pretty tricky situation and so any help or knowledge on insurance law will be greatly appreciated.
Thank you in advance
My partner took out a Term Life Insurance Policy over the phone with a TPD insurance and 'Living' Insurance bundle (or so he believes) back in 2013. He was sent the policy documents at the time. Unfortunately, he can't find the policy and fears it may have been thrown out. He did not receive an email with documents attached either.
At the time of taking out the policy, he requested one of their top covers ($1 Million in case of death and certain amounts for illness or TPD, etc.) and has been paying a premium of $180 per month.
Unfortunately, he has now fallen very ill with stage 4 cancer and today rang his insurer and advised them of his condition only to be told that he is only covered for life insurance ($500k) and not in the event of TPD insurance or the other 'living' insurance.
I have another friend who has a policy with the same Insurer who pays $33 a month for $379k.
My questions/ concerns are:
1) In the event that he misunderstood the communication over the phone, it doesn't make sense that a $500k insurance premium would be $180 p/m when a premium for $379k would only be $33
2) Would he be able to fight this on the basis that he has been paying premiums for the cover he believed he had even though he can't provide the policy documents?
3) If he can't find his policy documents, is there any way that we can review the voice recording from when the policy was taken out to confirm what was discussed and agreed upon?
It's obviously a pretty tricky situation and so any help or knowledge on insurance law will be greatly appreciated.
Thank you in advance
