Decreasing Life Insurance + Crtical Illness

Dandytf

As I only have basic income cover through Employers.
Is Decreasing Life Ins+Crtical Ilness Ins suitable for single home owner (with m.s.)
I'de rather take a new policy for cover from £20 per month (131K Dec Life 15k Critical Illness)
I did have some kind of policy in past which was cancelled when I was unemployed.
Also I've no idea if I can get a new policy as I've had M.S. since 2012 approx (though hopefully early stages)
Thanks for any thoughts

Dandytf

No advice mser's if above policy is wrong choice from my example.

tacpot12

Dandytf wrote: »

No advice mser's if above policy is wrong choice from my example.

Sorry, I don't understand this? Are you saying you don't want advice about what would better, if Decreasing Term Life Insurance & Critical Illness are the wrong choice?

csgohan4

You maybe be able to get cover but with a history of MS you will find either increased premiums or no cover.

Cancelling your previous policy before your diagnosis was probably the wrong choice in hindsight.

Do you have dependents? Is that why you need life insurance. Income protection is a must but same problems highlighted above due your medical history.

Dandytf

Thanks mser's
I don't have dependents.
The cancelled policy when beng made unemployed was unavoidable at least at that time,
I appreciate M.S. since 2011 approx will effect any life insurance, though going forward I thought maybe I'de be better with some kind of life insurance particularly if I am unable to work in future months/years.
Decreasing life seemed excellent only on reading the description, quote from Sainsbury's via L+G policy.
I'll make a tel call tomorrow to the number provided and ask if the quoted policy is suitable and more importantly available to me.
Increased premiums I could accept as I have done with car insurance.
@tacpot12 -I only commented as there weren't any posts to my thread I.e. No advice from any reply's at the time of your quote

Kynthia

Do you need life insurance? Who needs money in the event of your death?

I can understand wanting critical illness or income protection but you'd need to make sure it covers what you need it to cover, so I'd suggest going through a broker.

Dandytf

Kynthia wrote: »

Do you need life insurance? Who needs money in the event of your death?

I can understand wanting critical illness or income protection but you'd need to make sure it covers what you need it to cover, so I'd suggest going through a broker.

I have a relative in mind.
As previously advised, no harm in calling the quoted Tel number tomorrow as I've never used a broker though did consider searching for one for Mortgage help which wasn't required as I can switch online.
If I require a broker I'll re post.
All advice via mser's appreciated.

Weighty1

Unfortunately, you won't get critical illness cover or long term income protection if you've previously been diagnosed with MS, apart from 1 really poor critical illness plan that I know of and that excludes pre-existing medical conditions so you wouldn't be covered for MS on it.

There are short term income protection options available and at least one of these will cover you for MS provided the plan has been in force for 12-months or more.

You really would be better off speaking to an adviser who specialises in this area though.

Dandytf

Since called LG -as previous reply -Critical Ilness would be declined.
Life Insurance could be provided, dependent on stage of M.S.
Think I'll consider the decreasing Life Insurance application anyway.
As I had mentioned recently employer currently offer 50% income cover which can be increased I think though at a cost -must re check this also.
Thanks all advice.

Dandytf

That life insurance app was declined, not too worry, I was only trying to get som Nectar points.

csgohan4

You don't choose policy based on nectar points. Use a good broker to see if they can get you cover, although given your history it may be difficult.