Negotiating a payout

[NegotiationsRus]

Has anybody got any experience of negotiating a perm health insurance payout?

I have ill health with no propect of cure or recovery. The value of their liability payments top £1million over the full term of cover - 20 years.

They are open to negotiating a lump sum payout. They have offered 20% of that, which was a low ball offer in my opinion. I did my sums and decided I could settle at 30%. They said no.

I think that's a very reasonable settlement figure for them and somewhat more risky on my part.

Am I being stupid with my sums or is it just a matter of time before they come back and agree to the settlement?

Why negotiate? Why not just take the regular payments and get the full amount over 20 years?

Because there may not be 20 years to pay out?

Op I don't know the answer to your question but

I get that but surely it’s less risky to take £50K pa for 20 years than a lump sum of £300K, unless you know your life expectancy is less than 6 years. I’d imagine this would have been mentioned in the original post if it were the case.

If the insurer wants to convince the OP to take a lump sum, they need to offer her a compelling alternative.