As most employer operated DIS schemes are annual renewable policies, how does it work if you have staff that are maybe diagnosed with terminal illnesses when it comes renewal time?
Many years ago I worked in Norwich Union pensions and seem to remember that there was a sum insured limit that, under which, no disclosure was required but we are going back to the early 90's and I know that much has changed in insurance sunce then!
So say its renewal time, you have an employee who has been diagnosed with Cancer and you have a possible payout of £100k. Would any new insurer just insist on an exclusion? In which case how can the employer continue their DIS cover and therefore their conditions of employment?
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Group Death In Service Policies new