Critical Illness insurance If you've Already Been Paid Out On One

fleetingmind

I got paid out on my critical illness insurance last year and thankfully I'm just about back to normal and working full time again. I'm 37 and thinking whether I should take out another policy but before I speak to someone: -

Am I now: -
* Un-Insurable
* Premiums will be sky high
* Be normal price but loads of things will now be excluded

Weighty1

Unfortunately, in the vast majority of instances once a claim for a critical illness has been made it is not possible to arrange further critical illness cover.

The exception to this can be for cancer claims, however, you would normally need to be in a position were you would obtain the standard premium for cover (unlikely if the claim was only last year) and even then it would likely include a full cancer exclusion.

For my clients in this situation (and I have a lot of them) the only alternative option is to look at short term income protection (formerly the old fashioned Accident, Sickness & Unemployment plans, just without the unemployment cover added). Some of the best of these plans will cover pre-existing conditions after a certain period of time (often 12-months) and shouldn't be linked to a mortgage. They'll normally only pay for up to 12-months but that's still far better than not having any additional cover in place.

fleetingmind

Weighty1 wrote: »

Unfortunately, in the vast majority of instances once a claim for a critical illness has been made it is not possible to arrange further critical illness cover.

The exception to this can be for cancer claims, however, you would normally need to be in a position were you would obtain the standard premium for cover (unlikely if the claim was only last year) and even then it would likely include a full cancer exclusion.

For my clients in this situation (and I have a lot of them) the only alternative option is to look at short term income protection (formerly the old fashioned Accident, Sickness & Unemployment plans, just without the unemployment cover added). Some of the best of these plans will cover pre-existing conditions after a certain period of time (often 12-months) and shouldn't be linked to a mortgage. They'll normally only pay for up to 12-months but that's still far better than not having any additional cover in place.

Thank you for your reply.

Mine was paid out on Bacterial Meningitis even though I had far worse stuff like brain abscesses and ventricultis. So a cover for cancer would be a good option for me but I understand that insurers would be reluctant to cover me.

Chris_Pollard

Fleetingmind - it's taken a few days as I wanted to validate my thoughts on CIC given your history. I'm pleased to say that I think it is possible you could take out a new plan and your, very unfortunate recent medical situation, should not affect acceptance. This will be the case if you have made a full recovery (you say you are nearly back to normal), and you are back at work. I recommend you speak with an adviser - the firm that endorsed my original view was Aviva, and if I hear back from the other firms, I'll update, however, it is looking positive.

There are some that think once a CI payment has been made "that's it" - in some instances where payments might be made for one off situations, like yours, or the loss of limbs, this isn't the case.

Hope this helps and good luckj

Chris_Pollard

Quick update, LV have also indicated positively as well. So, I hope this gives you the confidence to press forward and get yourself covered again. All the best

minimike2

Not sure why someone who appears to work in the industry would imply that a claim on a CIC policy would normally mean no more cover being available.

There ARE options and not just for post-cancer sufferers. They get more expensive the more recent the diagnosis and the severity of it (and indeed what it was for). I have arranged insurance for cancer sufferers years after treatment with mainstream providers at normal rates, with exclusions on the policy. I have also arranged insurance for cancer sufferers only a short time after treatment, but at large cost.

I have also had people with conditions such as deafness, which has been claimed for, go on to be successful in arranging cover.

You need a proper broker who deals with specialist companies as well as mainstream to look at the options for you.

Weighty1

minimike2 wrote: »

Not sure why someone who appears to work in the industry would imply that a claim on a CIC policy would normally mean no more cover being available.

There ARE options and not just for post-cancer sufferers. They get more expensive the more recent the diagnosis and the severity of it (and indeed what it was for). I have arranged insurance for cancer sufferers years after treatment with mainstream providers at normal rates, with exclusions on the policy. I have also arranged insurance for cancer sufferers only a short time after treatment, but at large cost.

I have also had people with conditions such as deafness, which has been claimed for, go on to be successful in arranging cover.

You need a proper broker who deals with specialist companies as well as mainstream to look at the options for you.

Mike, I specialise in arranging cover for clients with pre-existing conditions. I'm currently looking a options for a client who has previously had a stage 1 seminoma and have dealt with *numerous* client who have made a previous CIC claim. The vast majority of cic claims arise, as I'm sure you are aware being so knowledgable, due to cancer, heart attack, stroke ans MS. As I indicated, it is possible to arrange CIC with a cancer exclusion, normally once the standard rates are available. If you can indicate which providers would offer CIC following the diagnosis of any of the other conditions then I'd be VERY interested in hearing.

Remember, I'm not talking about arranging life cover, but arranging new critical illness cover.

I'd also be interested in hearing about these "specialist companies". Obviously, Partnership only offer life cover so aren't relevant. There's also ESMI, however, that falls into a slightly different bracket being a guaranteed acceptance plan.......

Thanks

Chris_Pollard

I'd also be interested in hearing about these "specialist companies".
Weighty1 - check out Pulse insurance

Weighty1

Chris_Pollard wrote: »

I'd also be interested in hearing about these "specialist companies".
Weighty1 - check out Pulse insurance

Cheers Chris. Pulse Insurance actually use Partnership Assurance in the main, or at least, they do for client with pre-existing health conditions. They tend to use various Lloyds syndicates for other risks such as working in dangerous countries, but can use some Lloyds syndicates for health related cases when Partnership won't consider terms.