Life insurance /critical illness

[JustHereForGin]

Hi all,

My partner and I are sorting out of life insurance ans critical illness. Royal London want to charge me a premium (totally expecting that) but then not cover me for any disability. For example, even if I were in a car crash and broke my back, it wouldn't be covered.

Does anyone have any recommendations for insurance companies for persons with long term conditions?

[AgedCrone]

Ask around & see if any of your friends use an insurance broker…it really is worth the few pounds a specialist broker charges to get the right policy.

As you have found buying the wrong insurance product can cost you dear if you buy the wrong policy…& find you are not covered if you need to claim, after years of payments.

[JustHereForGin in reply to AgedCrone]

We're with a broker. But looking for any recommendations on here of companies that people have used when they have a chronic illness. Won't be buying a policy which isn't fit for purpose!

[AgedCrone in reply to JustHereForGin]

You need a specialist medical broker….ask whoever is advising you to get some quotes from such a specialist…of course he won’t be too keen because it would affect his commission.

[sylvi]

Why buy something if when you need it it isn't available for you. Shop around,.xxxxx

[JustHereForGin in reply to sylvi]

I am! That's why I'm asking for any recommendations of companies used! 🙂

[ruth_p]

Aviva wouldn’t cover me for critical illness but they only charge me for accident coverage.

[Wangpaupau in reply to ruth_p]

Found out yesterday from Aviva that they will not cover anyone with Type 1 or Type 2 diabetes.Legal & General will only cover critical illness with life insurance.

As said, the small prints are buried in the mountains of paperwork and there are loopholes when it comes to claiming. My sister in Malaysia had critical illness cover with Great Eastern Life and I tried to claim when she had a R leg amputation but was told not eligible as have to lose both limbs or more!

[ruth_p in reply to Wangpaupau]

That’s ridiculous! What about someone like Beagle Street?

[JustHereForGin in reply to ruth_p]

Honestly, the quote we've had is ridiculous! Fair enough, don't cover me for anything RA related, but to not cover for any disability from anything else, including a car crash, is stupid!

[HappykindaGal]

I’d second what others have said. Use a broker as so much small print to trip you up

[oldtimer2]

I'm sorry to say that I have not found any company that would insure me at a reasonable rate without so many exclusions that I gave up. I decided that it was better to save the premiums in a high interest ISA!

[Hidden in reply to oldtimer2]

Bonds usually give better interest. Get a two year one and a one year one. After a year change that to a two year one also. That way you have a chance each year to add or take out any monies.

[Hidden in reply to Hidden]

Make sure they are FSCS covered. Many ‘new’ banks aren’t..

[oldtimer2 in reply to Hidden]

But you have to tax on the interest....ISAs are free of tax.

[Hidden in reply to oldtimer2]

No tax is paid; it is taken off your tax allowance.

Obviously everyone’s circumstances are different. See this link for info…

moneysavingexpert.com/savin...

[Angjoplin in reply to oldtimer2]

I have done the same. I tried to find insurance and couldn't. I put money into a stocks and shares isa, premium bonds and savings accounts to hedge my bets.

[Leics]

I wish I could help you with this issue but when we got a mortgage 18 months ago legal and general wouldn’t give me life cover at any cost. My husband got it cheaply so if anything happens to him the mortgage is paid. Not so with me I had to get GP to fill in an insurance form on my behalf and I looked over it before it was sent and was happy with the content and explanation of my health but they refused me outright. So good luck but as others have said put the money into a high interest savings account.