Critical Illness Cover

TurnaroundSue

Hi

Can anybody advise me on CI cover. I took out a policy with my OH 4 years ago and pay £60 pm. 2 years later I saw a programme on Watchdog who showed a number of stories of people who had had a CI but there claims were not paid out as this did not disclose a previous medical problem. One of them was a man who had a heart attack, but because he hadn't disclosed that he had been to the doctors some years before about a bad knee, the the Insurance Company said he was in default of his policy as he hadn't mentioned it in his application.

This rang alarm bells with me as I am in the same position. I went to my doctor's years previously with a bad knee, but didn't put it down on my form as I had forgotten about it and, if I had remembered, it wouldn't have thought that it needed to go down. I mean I didn't put down any of the times I went to the doctors for other minor ailments!!! I haven't tried to defraud the insurance company, it is mainly down to ignorance and not realising how important leaving this sort of information off the application form was.

I tried to cancel my policy when I realised that because of this my insurance company might not pay out in result of a claim, but found that I would have to pay a hefty sum of lost commission at that time and I needed to keep the policy for another 2 years (ie 4 years in total) before I could cancel it (or pay up the fine!).

Those 2 years are now up and I was just wondering do you think I should cancel this policy and look somewhere else (are CI policies worth it?) or keep it going.

I have to admit that alot of the previous thread is a bit above my intelligence and any advice anybody is able to give will be greatly received. Thanks!

dunstonh

Those 2 years are now up and I was just wondering do you think I should cancel this policy and look somewhere else (are CI policies worth it?) or keep it going.

Let the insurance company know now about your knee and write to them to tell them that it may not have been disclosed at the time as you forgot about it. Their re-draws department will look into it and decide appropriate action.

CI policies are very much worth it for anyone that has claimed. Just like any insurance policy. The majority of claims do get paid when there is an insurable risk. Watchdog, picked a minority of cases and put it's usual spin on them. It did highlight attention to the need to fill in applications correctly. However, it had the side affect of putting into peoples minds that they shouldnt have CI.

TurnaroundSue

Thanks dunstonh, I never thought of writing to the insurance company, but will definitely be doing that this week - just wish I knew about these boards 2 years ago!!! Oh well, better late than never - will keep you posted.

IanDC_2

Hi Turnaroundsue, when you contact the insurer ask for a copy of the original proposal form, you might want to reflect on the other answers you gave, ask them to request a medical report from your Doctor, if they don`t you can, send it to the insurers. You have not claimed yet there might not be any problems, but you might have to pay a fee to change the details.These cost`s are nothing, and you will have the confidence you are on cover, on the subject of what you disclose on the proposal form you must reflect at great length, a medical report will give you the personal comfort all has been disclosed, as for watch dog, it might be you next time, don`t let this happen, write to the insurer today, get a copy of the form, get a medical report, if you are rejected in anyway then you were never on cover, but you can do somthing about it before the event of a claim, good luck,IanDC.(IFA`s make some serious money for selling you cover don`t they.)

TurnaroundSue

Many thanks for that IanDC - I am going to dig out the insurance stuff right away! Do you think that if I am have never been covered, due to non disclosure as above, they will reimburse my contributions to date (or part thereof) or will it be my fault for not disclosing information in first place?

Yes - I agree IFA's do make some serious money for selling cover!!)

IanDC_2

Good evening Turnaroundsue, no I don`t think you will get any money back, but as you have not claimed you should get your policy amended, to include the medical records missed off the original proposal.I don`t see why you should have to change Insurers, if you are happy with them all you are doing is correcting an oversite on the proposal form, it`s impossible to say if you were or were not on cover, in many respects it dosn`t matter now as this is hypothetical and you have`nt claimed. I have thought about your situation, remember to include only your medical details up to the time of the original application, UNLESS THERE IS A CONDITION YOU MIGHT HAVE DEVELOPED AFTER THE COVER WAS ISSUED WHICH SHOULD BE DISSCLOSED AS A MATERIAL FACT THAT SHOULD BE NOTIFIED, watch out for the insurer suggesting starting a new policy, you will have the commision to pay again, keep in touch with Money Saving Expert, someone will have come accross your problem, and advise which questions to ask.

dunstonh

watch out for the insurer suggesting starting a new policy, you will have the commision to pay again,

Although unlikely, would it matter? If the new policy had a lower premium and someone gets commission for it, then it really doesnt matter.

TurnaroundSue

Just to let you know I have sent a detailed letter to Insurance Company with all your advice - so will keep you posted with what the outcome is. Many thanks for all your advice, couldn't have done it without you!!