Life Insurance

[Colin86]

Hi all,

Just a question regarding life insurance. I’m 36 and currently trying to sort life insurance. I had heart surgery for a coarctation of the aorta over 20 years ago. I have hypertension now and take medication. Not many other problems now. I’ve been quoted life insurance of £52 a month for an overall life insurance payment of £250k. Does this seem reasonable or excessively over the top. Any suggestions. Thank you

[Hidden]

I suggest you get quote from a comparison site for life insurance with pre-existing conditions like this, and take it from there.

moneysupermarket.com/life-i...

I imagine the assessment of the risk for each individual will be different from provider to provider, and each individuals circumstances will also be different, just like travel insurance.

This might also be useful

moneysavingexpert.com/insur...

[Colin86 in reply to Hidden]

Thank you for the response and the advice. I’ll certainly shop around and see what I can find. Thanks again

[ScoobyDoo71]

it took me ages to get life insurance but found a link off BHF site which helped. Agree with other comment to shop around. Also ensure you are under the care of adult congenital heart disease specialists with having COA if not get insurance first then get referral for appointment. Really important all ACHD patients are seen in adulthood by ACHD specialists

[Bigscar in reply to ScoobyDoo71]

I had a triple bypass in 1977 age 31 before only Insurance I had was via my company at £1,000 . After the event it scared me to think I had left my wife and 2 daughters so exposed.

So I searched round and got £25,000 of cover at best price I could find, the peace of mind was worth the cost, which I paid until 60.DONT FORGET IF IT STILL APPLIES I GOT TAX RELIEF ON THE PAYMENT AND IF YOU HAVE DEPENDENTS YOUR QUOTE SEEMS REASONABLE.

[Mobiscum in reply to Bigscar]

There is no tax relief on insurance premiums (and there hasn't been for a l o n g time!)

[Bigscar in reply to Mobiscum]

Like i said it finished at 60 that was 17 years ago tax laws must have changed. What I would say ask the insurer to see if there is any way you can get tax relief on your premiums. Tax law is so complicated so ask those in the know.

[Mobiscum in reply to Bigscar]

I do know and tax relief is definitely not available, and hasn't been for a very long time. The exception is possibly that you can have it as an allowable business expense (which would then be deductible for tax purposes) if you're able to run it through a business but you need to exercise extreme care with the particular way the policy is written.

[Colin86 in reply to ScoobyDoo71]

Thank you. I will shop around. I just often think these things will often get dragged out with the underwriters. Thanks for the advice.

[DMC14 in reply to ScoobyDoo71]

what was the link please>

[Bigscar]

Anyway COLIN if I’d have got that offer I would have snatched their hand off,£13 roughly a week for £250K cover is wonderful peace of mind.Tax relief or not.Of course shop around, I would like to know if you manage to do better!

[Colin86 in reply to Bigscar]

Thanks mate! I think I’m going to accept and like you say, it’s peace of mind and I know the wife and kids are protected. Especially for a big enough pay out, too! Again, thanks for the reply. I’ll keep you posted if I manage to get a better quote!

[PaulR72]

Hi Colin, I'm in a similar situation and trying to get insurance. Which company did you get your quote from at £250k from? Many thanks, Paul

[Colin86 in reply to PaulR72]

Hi Paul, it’s with Royal London. I know a few people with them now. Thanks, Colin

[PaulR72 in reply to Colin86]

Thank you Colin.

[MichaelJH Heart Star]

It sounds pretty good to me. As a lifelong diabetic it was costing me £10 per £10,000 insured when I joined the property market in 1980! I have recommended these people a few times but never had feedback!

saveonlife.co.uk/Declined-L...

[Colin86 in reply to MichaelJH]

Thanks Michael. It seems the more people that comment that the offer is reasonable. I think I’ll just take them up on it.