Critical Illness Cover

village_life

Hi

I am searching for a Standalone (i.e. not linked to a life insurance policy) Critical Illness insurance - preferably decreasing term to cover a mortgage....

Doesnt seem to be too many people doing standalone policies- can anyone provide any pointers... so far I've tried:

Egg
Tesco
First Direct
Norwich Union - They did provide it
Legal and General
Morethan

anyone help

lauren1983

Hi

i went with direct line and i think they are well priced and a good service

Hope tat helps

mrnomoneybags

AXA Maybe?

dunstonh

Just as many companies that do life assurance also do standalone critical illness. The problem is that you are no looking in the right place. You are looking at the companies that cherry pick the easy business and not the more complicated.

With CI, you have guaranteed and reviewable premiums. You also have comprehensive, budget/core conditions only and a varying number of conditions covered depending on the company. The increased number of options and the increased underwriting costs mean that some of these companies are not interested in them for the level of business they would likely get.

OshayAway

village_life wrote:

I am searching for a Standalone (i.e. not linked to a life insurance policy) Critical Illness insurance

It's always worth comparing the cost of a Death or Earlier Critical Illness policy even if you have enough life cover already.

Mainly because in order to claim on Critical Illness you have to survive the 'survival period' of either 14 or 28 days (depending on the insurer). Therefore, if you suffered a heart attack and were on of the aprox 30% who die immediately or on the way to hospital - the policy will not pay out.

Apart from that, the cost of linking a CIC policy to life is usually minimal, infact believe it or not in some cases its even cheaper than a stand alone CIC policy! Don't ask why, its much to boring to explain.

Anyway hope that helps in some way but do take careful note of Dunstonh's comments. It is very important to consider how comprehensive the cover is, after all the most expensive policy is the one that doesnt pay out - no matter how cheap it is! Case in point; Egg cover 8 Critical Illness Conditions in there policy (plus TPD) most major insurers cover between 25 and 33. So as with so much in life, the key is VALUE not just cost.

dunstonh

Egg is reviewable premiums as well which is basically a no no when doing CI cover.

MoJo

I used

www.theidol.com

dunstonh

MoJo wrote:

I used

www.theidol.com

Not bad but beatable. I did a couple of sample quotes and was cheaper in each case. You should look at Martins protection article and save another couple of pennies a month.

MoJo

dunstonh wrote:

Not bad but beatable. I did a couple of sample quotes and was cheaper in each case. You should look at Martins protection article and save another couple of pennies a month.

Not sure which article you are referring to?
Who did you do the sample quotes with?
I need simple stand alone CIC. I don't need Life Insurance or Mortgage Protection.
I have used Idol before, only realised since coming here that they also do Confused.

dunstonh

Who did you do the sample quotes with?

I'm an IFA, I have similar quote portals available to me, albeit with more companies than they had on theirs. Most companies were 10-15% cheaper.

Not sure which article you are referring to?

Martin has a life assurance article and lists some of the cheapest discount IFAs out there. Although you don't need life assurance, the exact same systems and principles apply to standalone CIC when getting quotes.

MoJo

Cheers!