Pre existing medical conditions life insurance

suecoo66

My husband has whole life insurance taken out several years ago prior to his diagnosis of mixed connective tissue disease. The company who we took the policy out with several years ago have sold out several times. He has paid £10 a month for £43k worth of cover but we've had the policy for about 18yrs. It's now covered by FriendsLife and having reviewed the policy to keep the current level of cover they want £23.57 this would be reviewed again in 5yrs. Or he can contine to pay the same contribution but only be covered for £27k, again this would be reviewed in 5yrs. If we want more certainty they suggest a payment of £102.63 but only states it make future premium increases less likely. Or the option of having a cover of only £5,066 saying that based on our current assumptions about the future , it will be possible for the current premium to maintain this reduced level of cover until the life assured has died. However, the cover may need to reduce again if these assumptions about future investment growth and charges are not borne out.

Some of the payment is invested and the statement shows he has 19.7318 with a price of £15.4760 value £305.37

Has anyone changed life insurance with existing medical conditions ?
I changed mine a few years ago after a diagnosis of epilepsy and went through Insurance Surgery who got me a policy with Legal and General for just under £12 a month and a level term policy for the sum of £100,000

dunstonh

Has anyone changed life insurance with existing medical conditions ?

yes

not always sensible to do so or realistic to do so but it depends on the condition and the underwriting decision with the new provider.

kingstreet

You can apply to other insurers to see if he is insurable, however you should NOT in any circumstances stop paying or cancel the current plan until you have Acceptance Terms from the new provider, setting out their offer in writing, after medical underwriting is completed.