Terminal Vs Critical-whats the difference.?

ferry

Reveiwing my policy at the moment and I have Terminal Illness cover from L&G,but the market tends to suggest that Critical Illness cover is the way to go.

Can anyone please explain the difference between the two,if any,and is there likey to be a major difference in premiums..?

Thansk
Terry

doom

I've always thought that:
Terminal illness = Condition that WILL result in death ,eg inoperable brain tumour

Critical illness = Condition that MIGHT result in your death, eg some cancers, etc

Don't know about the difference in premiums.....

dunstonh

terminal means that you are likely to die in the next 12 months and relates to life assurance. If you are terminally ill, they will not wait until death but pay out the money straight away. Nowadays many life assurance plans include terminal illness cover at zero cost.

Critical illness is diagnosis of a critical illness. Nothing to do with death. This is not related to terminal illness. There is usually a list of critical illnesses and also additional conditions that insurers will cover. The degree of coverage varies and CI has been available in guaranteed and reviewable basis as well as budget and comprehensive versions. Do not use premiums alone to compare plans.

BigDave_Cash_Saver

dunstonh wrote: »

terminal means that you are likely to die in the next 12 months and relates to life assurance. If you are terminally ill, they will not wait until death but pay out the money straight away. Nowadays many life assurance plans include terminal illness cover at zero cost.

Critical illness is diagnosis of a critical illness. Nothing to do with death. This is not related to terminal illness. There is usually a list of critical illnesses and also additional conditions that insurers will cover. The degree of coverage varies and CI has been available in guaranteed and reviewable basis as well as budget and comprehensive versions. Do not use premiums alone to compare plans.

This is a brilliant reply - and spot on - insurance is not simple with Critical Illness - Read the conditions covered and UNDERSTAND them as you get what you pay for. :T

shellyd_3

Hi looking for a family annual cover, What is classed as pre EXISTING medical
and do you think I need to mention below
I have had endrometrisois for 22 years I don't recieve any treatment or visit the doctor.
My son now 15 had a graft on his ear drum when he was seven, no problems now.( if he if got an ear infection and needed attention would he be covered if I didn't mention it)
MY husband has suffered from reflux and IBS in the past, last camera a few months ago was all clear.

We are all really healthy and the ailments are really in the past, But I would like to think we are fully covered. Do you think I would be OK to get a normal cover Vai Quidco or am I risking not being fully covered.

Thanks for any help

Michelle

Willman_Rodders

I would suggest that if you are unsure then you tell the insurance company all the facts; let them decide what is, and what is not, a pre-existing condition. If it is relevant they will note the facts on their records; they may increase their premium. If they do increase their premiums or add an additional clause to your policy you know the information was important; you can always obtain an alternative quote from another provider.

Then you can enjoy your holiday.

I have heard of many horror stories where the insured did not disclose what appeared at first to be an irrelevant fact on the proposal form, only to find that when they came to make a claim (which is when you most need the policy to pay up) the payout has been declined because a search was made of the insured's medical records and they found some snippet of information that they felt should have been disclosed.

RibAd

shellyd wrote: »

Hi looking for a family annual cover, What is classed as pre EXISTING medical
and do you think I need to mention below


Pre existing medical condition would be defined by the policy's t+cs...but generally referred to as something that you currently are receiving treatment or being prescribed medication for (regardless if taking it or not). However, depending on the company, if something you had something-odd yrs ago has NEVER recurred since, you may not have to declare it.


I have had endrometrisois for 22 years I don't recieve any treatment or visit the doctor.
My son now 15 had a graft on his ear drum when he was seven, no problems now.( if he if got an ear infection and needed attention would he be covered if I didn't mention it)
MY husband has suffered from reflux and IBS in the past, last camera a few months ago was all clear.

We are all really healthy and the ailments are really in the past, But I would like to think we are fully covered. Do you think I would be OK to get a normal cover Vai Quidco or am I risking not being fully covered.

Thanks for any help

Michelle

I recommend that you disclose the medical conditions, as often failure to do so will result in the insurance being invalid. In the case of your son, should he get an ear infection on holidays and you have not informed your insurance company, you will not be able to make a claim against your insurance..... think about it in the case that your son may not be able to fly home because of the ear infection..... you would not be able to claim the cost of your flights back as a result as you purposely did not disclose this information. the same applies to the other med conds.
The medical conds that you have posted here.... you really ought to declare them... the worst case is that your premium will be loaded or excl may apply to the conds but again, any inaccurate information will invalidate your insurance. Most call centers have a call recording facility which can be used for your protection and the company's protection (ie they can trace a call to confirm that you did/did not declare med conds).

If you're really unsure whether or not you should be declaring those aforementioned conditions, tell the company anyway. you can check the t+cs of most companies online and in the definitions it should state firmly what a pre-existing medical condition, by their definition, is.