What insurance do I need to get

holly_hobby

Payment is on diagnosis of a terminal or critical illness - if you survive, or exceed the prognosis of survival, then thats all to the good - its the clinical diagnosis thats the crux of claiming.

Glad the posts helped you to decifer what you feel is necessary and affordable .... to which I wholly agree some CI is much better than none !

Joint life cover, paid on 1st death is sufficient, whether just to repay the mge or with additional cover for dependants provision.

CI - well notwithstanding 2 policy fees, if there isn't much between them, then I would go for 2 singles - given that you will both have independent provision for any qualifying diagnosis .... which if affordable would obv give you more comprehensive protection.

Hope this helps

Holly

Ciderarmy1987

holly_hobby wrote: »

Payment is on diagnosis of a terminal or critical illness - if you survive, or exceed the prognosis of survival, then thats all to the good - its the clinical diagnosis thats the crux of claiming.

I meant what about if you get told that you have 18 months left to live, does that mean that you cant claim the life insurance early? do you have to wait 6 months until it is under 12 months

holly_hobby

I would say that as the claim requirements is a clinical diagnosis of 12 mths or less to live, you'd have to wait .... once a succesful claim is submitted the policy ends, and as I say if you survive longer than the 12 mth prognosis, the benefit remains yours.

As a point to note, generally no claim may be submitted if there is 12mths or less of the policy term to run.

Hope this helps

Holly

ACG

I dont think many people get told they have less than 18 months to live.

I think its generally less than 12 months they say if not less as its pretty much guess work. The chances of that scenario happening has to be that remote its probably not worth worrying about too much but im pretty sure you would have to wait if the situation were to arise.

Ciderarmy1987

Only thing that we have left to decide on is if we need critical illness. Is there much that would be covered buy this that isnt terminal?

If we are get an illness that stops us from any form up work we get a pretty good pay out from our pension, but not such a great deal if we are able to work but in a different job.

What sort of situations is critical illness best at covering you for?

holly_hobby

This is now starting to go down the lines of advice, I would prefer if have a prelimary google for CI and Terminal illness benefits , and then speak to your adviser to obtain a personal and relevant recommendation.

Hope this helps

Holly

PS - I had a quick google and added a list of what L&G class as CI - this is not a recommendaton for L&G, but for general info and guidance of types of CI illness covered by them - which of course may vary between providers and the provider you select for any provision ! http://www.legalandgeneral.com/life-cover/critical-illness-cover/critical-illness-whats-covered/

Ciderarmy1987

holly_hobby wrote: »

This is now starting to go down the lines of advice, I would prefer if have a prelimary google for CI and Terminal illness benefits , and then speak to your adviser to obtain a personal and relevant recommendation.

Hope this helps

Holly

Thanks for all of you help