advice on life/critical illness cover

lynsayjane

hey guys,
quick question...i'm a 25 year old healthy female and wondering if it would be so bad to cancel my life and critical illness cover for a year or so to help towards getting me out of debt, at the mo i pay £20 a month to scottish equitable and have done for two years, the only time i was out of work was due to my contract finishing which it didn't cover.

any thoughts would be muchos appreciated!
x

dunstonh

If you don't claim in whilst uncovered, then it was good for you. If you do have a claimable event, it wouldn't be.

My youngest female claimant was aged 26 and she was healthy as well. At least until she was diagnosed with breast cancer.

funnyguy

also remember if you cancell and restart the premium will probably be higher as you will be at least 3 years older when you restart and premiums have gone up over recent years too,so you may have to pay say £30 instead.The easiest way to tell is get a quote now for the same sort of cover and see what it would be..

AndrewSmith

I had a collegue who dealt exclusively with footballers bith professional and semi professional.

He had a claim form a 21 year old semi professional footballer who was considered at the peak of his health and fitness.

He was playing a friendly game and collapsed with a heart attack.

I have also had a client make a similar claim.

You can never tell. You only have to look at the likes of Kylie or Anastasia who have both had breast cancer relatively young.

lynsayjane

well, erm, thanks for scaring the sh*t out of me!

AndrewSmith

Well you asked the question. Do you want honesty or diplomacy?

Would you prefer we said 'naa it's always fine and nothing will happen'?

I'm afraid that when you ask a question of this type you will always get the honest answer, especially from people such as Dunstonh and myself.

It's not like I am talking without personal experience of this either.

Not intending to scaremonger etc, just giving a factual honest answer to your question.

lynsayjane

i know hun, it's cool! i guess i was just hoping for the answer i wanted to hear.

MortgageMamma

Hi Lynsay

If you are struggling with your debts have you checked out the debt free wannabee board? There are lots of folk who can help you. Like Dunston and andy say, if you cancel and become ill you won't be able to claim on your critical illness and your debts will become even worse. I was just wondering though, do you have income protection, as sometimes these policies are mroe useful than critical illness as they would pay you an income if you were off work due to sickness rather than a lump sum. most policies will pay until retirement if necessary