Critical illness cover (merged)

SPENCER

mr218,

You obviously have a good financial advisor. At least you may never end up with the problems I and others have had. Unfortunately some insurers are happy to take your premiums but don't want to pay money out on a claim.

newbiemum05

My husband (29yrs old) and I (23yrs old) have been meaning to write wills and get some Life/Critical Illness cover for sometime but now feel a greater urgency due to our Baby Son being born 2 weeks ago. Neither of us smoke or drink and are both in relatively good health.

We have no idea where to start looking with regards to getting adequate affordable cover from a reputable place.

Any help would be wonderful - we would like to start asap as husband will be 30 in February and as I understand this can make price higher.

Thanks

savvy

Hi newbiemum05, I have moved your thread here so that you may find the information you require.
Thanks
savvy

GingeG

so does anyone have any links to good companies with fairly cheap but comprehensive policies?

IanDC_2

Hi newbiemum05,in response to your post, it is better to have a Guaranteed policy than a reviewable. Reviewable will not reduce and you take on far more risk of the policy being worthless in the event of a claim, when you complete the proposal form insist they give you a copy, I`ve had a bad experience which would not have happened if I had a copy to check from time to time, do not rely on the insurer obtaining a copy of your medical records, they have a policy of not doing so thereby protecting their position should you claim, good luck, Ian DC

IanDC_2

Hi newbiemum05,in response to your post, it is better to have a Guaranteed policy than a reviewable. Reviewable will not reduce and you take on far more risk of the policy being worthless in the event of a claim, when you complete the proposal form insist they give you a copy, I`ve had a bad experience which would not have happened if I had a copy to check from time to time, do not rely on the insurer obtaining a copy of your medical records, they have a policy of not doing so thereby protecting their position should you claim, good luck, Ian DC

IanDC_2

Hi newbiemum05,in response to your post, it is better to have a Guaranteed policy than a reviewable. Reviewable will not reduce and you take on far more risk of the policy being worthless in the event of a claim, when you complete the proposal form insist they give you a copy, I`ve had a bad experience which would not have happened if I had a copy to check from time to time, do not rely on the insurer obtaining a copy of your medical records, they have a policy of not doing so thereby protecting their position should you claim, good luck, Ian DC

mrs.badcrumble

Hi, newbie here. There is alot of useful information here already. But, at the risk of sounding like a complete fool....

Are income protection policies a lesser risk than CI? I have looked at policies which will pay out a monthly figure to cover the mortgage and kick in after 30 or 60 days (we both have full pay for 6 months anyway). I am tempted as it works out to a third of the cost of the CI we were quoted.

ju

payless

different ball game

Whilst different people have individual needs - Given one or the other I generally favour " income protection route"
That said there can sometimes be confusion between short term payout ( 9, 12 or 24 months)- which can also often be cancelled by insurer with 1-3 minths notice

and long term ( generally to retirement) "permanent cover"

spendersaver

Saw on the Egg website today that if you take out Life or critical illness Insurance with them before 30th September, they'll send you a voucher for £95 worth of free wine at Virgin Wines

Life insurance is something I don't already have, but guess I should what with a family to consider. I got a quote and it actually turned out to be pretty cheap. Am going to have a look at the market to see how it compares, but the quote was pretty good and that free wine does sound very tempting! :T

There's more info at http://new.egg.com/visitor/0,,3_26205--View_432,00.html