Best providers for Critical Illness cover with pre exsisting conditions

Vic16

Hi

I am a first time buyer and need to take out some kind of protection for my mortgage, I was thinking about critical illness cover with a lump sum but I am aware that it will not pay out for pre existing conditions.

What I didn't realise is that I was going to be charged a higher rate for these pre existing conditions even though it's not going to pay out on them.

Therefore is anyone aware of any companies that are best for/cheapest for critical illness cover with pre existing conditions? Or that actually do cover the pre-existing conditions?

I need some protection but feel I'll be paying out more than others but still only being a slim chance they'd pay out because they could cite symptoms from other existing conditions to stop them paying out for new illnesses. Seems like alot of money down the drain but I can't do without it.

Any help would be appreciated

Many thanks in advance

ACG

Are you sure your going to be paying more for conditions which have been excluded?

To be honest the answer is impossible to answer as we have no idea what the condition is. All insurers have different ways of underwriting a policy.

I would suggest you speak to a Mortgage or Financial advisor. They can run your condition(s) by the underwriters and come back with whatever the best terms will be.

SantaKlaus

I'm in the same boat as you mate, Insurance companies are a pain in the a** for sure, i got quoted £8 per month for life insurance, then when i got another quote (telling them my medical condition) they upped it to £25 per month and said that they wouldn't pay out for anything resulting from my current medical condtion (diabetes).

So i'm being charged over 3 times more for my medical condition, even though my medical conditon isn't included. its a total pi** take. If it were included then fair enough but to triple my monthly payments for absolute no reason is outrageous!

(im with Aviva)

ACG

Did you take the policy out through a bank or online?

I dont write huge amounts of Critical Illness, i tend to lean more towards life and PHI with smaller amounts of CI. I could be wrong as its a few years ago but when i worked for a life office (Not aviva), im sure the underwriters would offer it at standard rates if the issue was excluded, although i could be getting mixed up with another policy.

That might not be possible with all conditions though, diabetes for example can lead on to various issues and to exclude them all would result in only half a policy.

My advice would be to speak to a broker, let them see if they can improve on your policy and/or save you money. Worse case scenario is they cant, it wont have cost you anything.

SantaKlaus

ACG wrote: »

Did you take the policy out through a bank or online?

I dont write huge amounts of Critical Illness, i tend to lean more towards life and PHI with smaller amounts of CI. I could be wrong as its a few years ago but when i worked for a life office (Not aviva), im sure the underwriters would offer it at standard rates if the issue was excluded, although i could be getting mixed up with another policy.

That might not be possible with all conditions though, diabetes for example can lead on to various issues and to exclude them all would result in only half a policy.

My advice would be to speak to a broker, let them see if they can improve on your policy and/or save you money. Worse case scenario is they cant, it wont have cost you anything.

i didn't take out critical illness, i took out level term life insurance via tescos, i cant find a insurance broker, i put up a message on the insurance part of this forum but didn't get any replies or pm's

kingstreet

SantaKlaus wrote: »

i didn't take out critical illness, i took out level term life insurance via tescos, i cant find a insurance broker, i put up a message on the insurance part of this forum but didn't get any replies or pm's

I've just been back over your threads and posts as I couldn't remember one. Did you delete is, as I can't find anything?

ACG

Brokers on here are not allowed to PM you to solicit for business.

Your free to PM them. Alternatively you could also have a look on google for mortgage/financial advisors local to you if you prefer to deal face to face.

SantaKlaus

kingstreet wrote: »

I've just been back over your threads and posts as I couldn't remember one. Did you delete is, as I can't find anything?

Maybe the thread was deleted because i asked for insurance brokers to message me / pm me.

SantaKlaus

ACG wrote: »

Brokers on here are not allowed to PM you to solicit for business.

Your free to PM them. Alternatively you could also have a look on google for mortgage/financial advisors local to you if you prefer to deal face to face.

I've been trying to find an insurance broker on this forum site but all i can find/see is mortgage brokers (written in member signitures)

Annisele

SantaKlaus wrote: »

I've been trying to find an insurance broker on this forum site but all i can find/see is mortgage brokers (written in member signitures)

The forum rules have specific bits covering mortgage brokers and travel agents, but not insurance brokers. There are some insurance brokers who post, but their signatures don't generally declare that.

The general rule about not touting for business applies as much to insurance brokers as it does to everybody else, so I'd imagine they'd be reluctant to PM you. (Also, some of them are brokers in specific areas - I don't imagine somebody who deals with professional indemnity insurance would be much use to you!)

kingstreet

You actually need an Independent Financial Advisor, or whole market protection advisor in your area.

If you can't get a recommendation from a friend or relative, try;-

https://www.unbiased.co.uk, switching off the "sponsored ads only" option, so you get a full list. Call a few near you and get a feel for how they work.