Critical illness worth it?

Hiraelboy

I pay £30 a month for a critical illness insurance policy which will pay me £28,000 if I get a serious illness before I'm 60 (I'm currently 48). I worry about Scottish Provident increasing the premiums, difficulties in claiming and also think it is quite a small amount and notice that it ends completely when I reach 60.
There appears to be no flexibility either i.e payment holidays or decreasing premiums in hard times.
I've read somehwere that Permanent Health Insurance is a better bet offering better value for money.
Does anyone have any ideas of what I should do as I'm thinking of cancelling it as times are very very hard.
I have a pretty good health profile physically although my father had a heart bypass operation at the age of 57.
I am taking cholesterol lowering drugs so think it unlikely it would happen before age 60.
Also I wonder if they actually do pay out in the event of a heart bypass?
Hiraelboy

dunstonh

I worry about Scottish Provident increasing the premiums

are you premiums reviewable or guaranteed?

difficulties in claiming

around 90% of claims are paid out in full. Around 5% are rejected for non-disclosure and the rest for things not covered.

There appears to be no flexibility either i.e payment holidays or decreasing premiums in hard times.

There wouldnt be. You dont get that sort of thing with insurance.

I've read somehwere that Permanent Health Insurance is a better bet offering better value for money.

It is a priority over CI but it wont be cheaper. Not at your age.