Frequently Asked Questions
- How does L&PS Direct Limited advise me?
- How is L&PS Direct Limited regulated?
- What should I do if I already have an insurance policy in place?
- Who do I contact if I have a claim on my policy?
- Can I cancel a policy if I change my mind or I'm not happy with the cover it provides?
- What is Private Medical Insurance?
- What are the types of cover for Private Medical Insurance?
- What is a "medical history declaration" cover?
- Which details of my health must I provide the medical insurance providers?
- What is in-patient coverage?
- What is day-patient coverage?
- What is out-patient coverage?
- What is Critical Illness Cover?
- What is Income Protection Insurance?
- What is Mortgage Protection Insurance?
- What is Unemployment Cover?
- I have an existing medical condition. Will I be able to take out Mortgage Protection Insurance?
- What is Life Insurance?
- What is Term insurance
- What is Whole-of-life insurance
- What is a Cash Plan?
- What is a Dental Plan?
We will assess your needs based on the type of insurance you require and make a recommendation for you based on your circumstances and budget.
L&PS Direct Limited is an appointed representative of H L Partnership Limited, which is authorised and regulated by the Financial Services Authority. H L Partnership Ltd's FSA Register number is 303397.
L&PS Direct Limited will review your current policy, compare it against the marketplace and make a recommendation for renewal options.
In the event of a claim, you must contact your insurance provider in the first instance. Refer to your policy documentation for the Claims helpline numbers. For private medical insurance, all claims must be GP referred and before incurring any medical expenses, all treatment must be pre-authorised by the insurance provider
If you have any queries regarding your claim, you may contact L&PS Direct Limited who will be able to assist you; however we will not be able to process the claim for you.
You can cancel within 30 days of taking out the policy and get your money back – provided you have not made a claim. After that, you can still cancel the policy at any time under most contracts, but you may not be entitled to a refund of the premiums you have paid. Your cancellation rights should also be set out in the key policy information.
Private medical insurance covers medical treatment and usually means you can get treated quicker than going on the NHS. The cover varies – but basic private medical insurance may pick up the costs of most in–patient treatments (tests and surgery) and day–care surgery, and some extend to out–patient treatments (such as specialists and consultants).
Full Medical Underwriting (FMU) – This means completing a health questionnaire when applying for cover. With the information to hand, the insurer will then decide whether to apply any exclusion to the policy which will be clearly shown on the certificate. You have 14 days to decide it these cover terms are acceptable to you
Moratorium - This form of underwriting excludes cover for any condition for which you have received medical treatment for, had symptoms of, asked advice on or you were aware existed, in the five years before the cover started. However, providing you have no treatment, medication or advice for the condition or any related conditions for two consecutive years after your plan starts, then the conditions will become eligible for benefit, subject to the plan’s normal terms and conditions. This two-year period is known as a moratorium
Continued Medical Exclusions (CME) & (CMORI) - This form of underwriting means all medical conditions covered under your existing policy will continue to be covered under your new contract, subject to the terms and conditions of the new contract. There must be no break in cover between when your current plan ends and the date that cover under your new plan begins.
Medical History Disregarded – This type of cover is available to groups of usually 20 or more members and means that all previous medical history will be covered, subject to the plan’s normal terms and conditions.
You will be asked by the medical insurance provider to fill out a form, giving details of your medical history. Sometimes medical reports may be required. It is essential that you provide all the information required by insurers to avoid future questions or worse, rejection of claims. If you are not sure always declare anyway. If you have a medical condition that may come back, the health care insurance company may cover you, but exclude that condition, reviewing the possibility for inclusion into the plan in later years.
There are a number of medical conditions which you may not be able to have covered under health care insurance plans. You are not normally able to secure cover for an illness you are presently suffering, or have already had in the recent past. These are known as pre-existing conditions.
When a patient is required to stay in hospital overnight, this covers the cost of accommodation, treatment and consultant’s fees.
Day-patient cover, also called Day-care or Day-case, incurs when you go into hospital for private treatment or investigations, but do not need to stay in the hospital overnight.
Covers the cost of eligible out-patient treatment such as consultations, X-rays and diagnostic tests, where the patient is treated and then goes home on the same day.
This is a long-term insurance policy designed to pay a lump sum on the diagnosis of certain life-threatening or debilitating (but not necessarily fatal) conditions such as a heart attack, stroke, cancer, multiple sclerosis and loss of limbs. The illnesses covered will be specified in the policy along with any exclusions and limitations which will differ between insurers. Critical Illness Cover policies usually only pay out once, so they are not a replacement for income.
If you are an employee and you fall ill, your employer might pay you your full pay for a few weeks or months. By law, an employer must pay most employees statutory sick pay for up to 28 weeks, though this will probably be a lot less than your full earnings. After that, you would probably have to rely on state benefits.
State benefits are not generous. You would probably see a substantial drop in your income if you were out of work for more than a few months because of illness or disability.
Income Protection Insurance aims to put you back to the position you were in before you suffered a loss. But it does not allow you to make a profit out of your misfortune. So the maximum amount of income you can replace through insurance is broadly the after-tax earnings you have lost less an adjustment for State benefits you can claim.
Otherwise known as Payment Protection Insurance, or PPI, is insurance that will pay out a sum of money to help you cover your monthly repayments on mortgages, loans, credit/store cards or catalogue payments if you are unable to work. This could be because you have an accident or sickness, or become unemployed through no fault of your own.
This means that the insurance company will pay the monthly repayments (or a percentage of them) on your behalf for a fixed period of time if you become unable to work.
Unemployment Cover provides you with an income for up to two years if you lose your job through redundancy.
Yes, but you will not typically be able to make a claim for a medical condition you were aware – or should have been aware – existed at the time you took out the policy, or sometimes earlier. You would normally be able to claim for other illnesses that occur after you take out the policy.
Life insurance is about providing some financial security for people who depend on you if you died.
There are two main types of life insurance: term insurance and whole-of-life insurance.
Term Insurance is a low-cost insurance that is valid only for a stated period of time and has no cash surrender value or loan value. Is known as term insurance because you choose how long you're covered for, say, 5, 10, 15, or 20 years (the term). Term insurance only pays out if you die within the term you've agreed. If you live longer than the term, you get nothing. As a couple, you can also take out term cover in both your names, with the policy paying out if either of you die during the term.
A whole of life policy is expected to pay out the life cover whenever death occurs; that could be now when the life assured might only be in their twenties or it may be way into the future when they are in their nineties.
The younger you are when you buy your policy, the lower your premiums will be, so it may be a good choice if you are very young and healthy.
Whole life insurance can also be a good estate-planning tool for older people and a good choice for individuals who want the security of knowing that their policy will not expire and that they will never have to reapply for life insurance.
Cash plans provide limited cash sums towards everyday healthcare bills. Different policies cover one or a combination of healthcare such as dental care, optical care, physiotherapy, or stays in hospital. Most providers offer a range of covers with different levels of payouts, and the smaller the payouts the cheaper the premiums.
Dental insurance is a type of health cash plan that focuses specifically on dental care. Most of these pay for treatments such as crowns, root canal work, bridges and dentures up to an agreed maximum each year. If your teeth are in good health you can also take out a capitation scheme: you pay a monthly fee in return for check-ups, regular treatment, X-rays and extractions.