How much for Life & Critical Illness cover?

easilyamused

I applied for a joint policy with Norwich Union through The Idol for £100,000 cover decreasing term.
They've just come back and said that the insurance company want to 'postpone' the joint application for 6 months for some non-specified reason to do with my partners medical history (although they're happy to go ahead with me on a single policy). I've written back asking why on earth that is (to our knowledge he's not waiting for the results of any tests!), but I thought in the meantime I'd get a few quotes from other companies in case we have to shop elsewhere.
We're a non-smoking not-overweight couple in our early thirties with no health problems.

Norwich Onion originally quoted us £35.70 pcm

Egg quoted £37.87

and then Direct Line quoted £11.65 and Sainsbury's quoted a peasly £9.03!!
Surely this can't be right can it?? Or were the first two vastly overquoting us?

Just wondering (very roughly) how much everyone else pays for theirs?

MortgageMamma

the amount you pay with pure decreasing term depends purely on the policy provider and any add ons you may have such as waiver of premium benefit and terminal illness benefit. It is a possibility that there are past or current issues about your partners health you are unaware of or they are unwilling to disclose. Dop you still have a photocopy of the application form you sent in? Did you see a financial advisor or approach NU direct? Why did you want decreasing term assurance?

A better option for you could be two single life pension term assurance, that way your partners health issue, whether real or foreseen by NU would not affect your own policy. Pension term assurance is cheap as it offers level term assurance cover to whichever amount you specifiy up to a maximum age of 75. You pay the premium net of basic rate tax. It might be worthwhile investigating this with your financial advisor as you could well end up with double the amount of cover for the same cost. let me know if you have any questions.

dunstonh

It should be noted that you will need to declare this postponement with any application now and because of that, it is almost certain that other providers will go to the doctor as well.

Norwich Onion originally quoted us £35.70 pcm

Egg quoted £37.87

and then Direct Line quoted £11.65 and Sainsbury's quoted a peasly £9.03!!
Surely this can't be right can it?? Or were the first two vastly overquoting us?

You are not comparing like for like. NU are usually one of the cheapest providers. I reckon that those last two quotes are life cover only with no critical illness and/or on reviewable basis rather than guaranteed.

MortgageMamma

are you getting critical illnes and terminal illness confused.

for info

critical illness pays out a sum assured on DIAGNOSIS after a short survival period on selected conditions

Terminal illness cover just means your life asssurance will be paid out on confirmation that you are terminally ill - rather than on death