Tesco Life insurance - fat finger syndrome
Nov 28, 2004, 5:42 am
#1
Original Poster
Join Date: Oct 2004
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Tesco Life insurance - fat finger syndrome
Morning All,
Cant find the answer to this on the tesco thread so thought i'd ask the question....
Erm, I've just signed up for the tesco life insurance to get the bonus miles and noticed due to fat finger syndrome or just plain stupidity that i put in 20 years instead of 2 years as my policy term...
Anyone know if this is going to cause me a problem when cancelling next month? Is it better to let this one die and reapply for a 2 year term (i dont know strict they are with cancellations???)
Thanks in advance
Gav_T
Cant find the answer to this on the tesco thread so thought i'd ask the question....
Erm, I've just signed up for the tesco life insurance to get the bonus miles and noticed due to fat finger syndrome or just plain stupidity that i put in 20 years instead of 2 years as my policy term...
Anyone know if this is going to cause me a problem when cancelling next month? Is it better to let this one die and reapply for a 2 year term (i dont know strict they are with cancellations???)
Thanks in advance
Gav_T
Nov 28, 2004, 5:52 am
#2
Join Date: Aug 2004
Location: Near LHR
Programs: UA1P, SK S, BA B, SPG G, Hyatt G, HH G, HM Revenue & Customs Lifetime MilkCow Platinum Plus
Posts: 715
Originally Posted by GavT_london
Morning All,
Cant find the answer to this on the tesco thread so thought i'd ask the question....
Erm, I've just signed up for the tesco life insurance to get the bonus miles and noticed due to fat finger syndrome or just plain stupidity that i put in 20 years instead of 2 years as my policy term...
Anyone know if this is going to cause me a problem when cancelling next month? Is it better to let this one die and reapply for a 2 year term (i dont know strict they are with cancellations???)
Thanks in advance
Gav_T
Cant find the answer to this on the tesco thread so thought i'd ask the question....
Erm, I've just signed up for the tesco life insurance to get the bonus miles and noticed due to fat finger syndrome or just plain stupidity that i put in 20 years instead of 2 years as my policy term...
Anyone know if this is going to cause me a problem when cancelling next month? Is it better to let this one die and reapply for a 2 year term (i dont know strict they are with cancellations???)
Thanks in advance
Gav_T
Usually the underwriter averages these expected premium increases to make the premium consistent throughout the term. So if you cancel early you will find that in those days that you paid for your cover you will have actually paid more than you would have if you were to take a shorter period of cover.
The whole difference will probably be worth only a few pounds in any case, so do not worry too much about your fat stubby fingers syndrome (if you watch The Simpsons, you'll know this condition is hereditary, comes from father's side and this is the reason why Lisa Simpson could not pursue a professional saxophone career).