Help with Income Insurance

Porggg

Hello,

Last year I was diagnosed with a rare liver disease. As I am self-employed we will need help in the future financially as the chances of being not being able to work are not looking in my favour.

Does anyone have any experience with income protection and recommend who to go with?

Thank you!

Dan

Quentin

With ill health already it could be difficult to find cover

SonOf

You need to take these out before the medical condition is suffered. It is too late after the condition appears.

Whilst it may still be possible to buy a permanent health insurance plan (the generic name for proper income protection), it will depend on the severity of your condition and you would have exemptions on anything to do with your liver or any associated conditions that could lead from it.

Weighty1

Hi Dan

Depending on the liver condition you are likely to find it nigh on impossible to obtain long term income protection, with an exclusion or not. Generally, if there's any sort of condition relating to the major organs of the body, unless the condition is pretty much guaranteed to be benign and not cause ill-health then insurers wouldn't be interested in providing cover.

There would be at least one option in respect of short term income protection and this would include a provider who would cover you for claims for this liver condition (or any other pre-existing conditions once the plan has been in force for 12-months). It would be dependent on your self-employed status, for example, if you were working through your own limited company and primarily paying yourself dividends then you wouldn't be able to protect these, you can only protect salary type income.

If you spoke to a specialist broker they should be aware of the option I am talking about.

Porggg

Thanks for all the feedback, my fiance and I did expect this to be the case. We feel lost at the moment as it was unexpected.

Could anyone point me in the right direction of a specialist broker?