Life insurance with Cystic Fibrosis?

fiwen30

Very niche I know, but maybe someone has some knowledge.

My partner is a CF patient, age 28, and in good health (70-ish% lung function, awaiting Kaftrio). He is the high earner between us - we are in the process of buying a house together, and are at the point of needing to purchase various insurances.

We’d looked into life insurance for him pre-COVID, and we’re pleasantly surprised that Pulse insurance had flexed up their life insurance policies for CF patients from 10 years to 25 years, presumably in light of the new medicines that had been becoming available.

However, when my partner contacted them for a quote last month, we were told that they’ve suspended that 25 year policy due to CF patients being extremely clinically vulnerable to COVID. Their 10 year policy is still available, but we’re still waiting on a personalised quote for his current condition.

So my questions are - does anyone know of any other companies that might offer longer terms for people with lifelong health conditions? We’re due an appointment with our mortgage advisor to look at insurance options, so he may have some ideas, but we had wanted to go prepared with a few different quotes/options first.

And - is a 10 year policy much use, if we’re taking out a 30 year mortgage? Presumably if he doesn’t die in those 10 years (touch wood), then there is no payout at all?

[Deleted User]

 I got expensive life cover with legal & general having epilepsy and a chronic mental health diagnosis. 

 My cover is £45 where my hubby's is £23 but im covered

Sandtree

Have you looked at a CF charity to see if they hae recommendations of brokers or insurers?

Didn't have great success with the ones recommended for me (not CF) but have known others have greater joy with more well known conditions.

And yes, with term insurance it is a pure insurance policy so if you do not die (or receive a terminal diagnosis) within the policy term the policy simply lapses at the end of the period of cover.

fiwen30

Thank you!

Yes I’ll talk to my partner about contacting the CF trust while we wait for a quote from Pulse. Because 10 years really isn’t ideal tbh, but it’s just another thing that COVID is determined to !!!!!! up 🙄

We’re meeting with our MA on Friday morning to go through the mortgage offer and look at insurance, so hopefully he’ll be able to recommend something too.

davidmcn

fiwen30 said:

And - is a 10 year policy much use, if we’re taking out a 30 year mortgage? Presumably if he doesn’t die in those 10 years (touch wood), then there is no payout at all?

After 10 years, in real terms the debt will be smaller (because of inflation), the property value will (probably) be higher, your income will (probably) be higher in real terms, and a chunk of the mortgage will have been paid off. So it ought to be easier for you to take over in your sole name if that became necessary. So generally there would be less need for insurance.

Weighty1

Unfortunately, it is incredibly difficult to obtain cover with CF, incredibly.  Pulse *may* be able to do this, however, they will likely be using the Lloyds of London market and have a bespoke arrangement with one of the syndicates there and their cover may include some for of exclusion, so just make sure you are fully up to speed with the terms offered.
I can say with a good degree of certainty, that if your partner has ever needed to be hospitalised on IV antibiotics due to the CF then it'll almost certainly be a "no" from all mainstream companies and even the main specialist insurer (The Exeter) are likely to have real difficulty, if not normally, most certainly now.  I'm afraid that having a respiratory condition during a pandemic which causes respiratory symptoms has even caused The Exeter to be unable to offer cover when they may have been able in the past with several of my clients.

There are 2 guaranteed acceptance options.  Google "Smart Insurance guaranteed acceptance" and "Union Insurance Services guaranteed acceptance" and it should come up with them.  There'd be a maximum of £70,000 available (£20k Smart £50k Union) and they only cover death from accidents during the first 2-years, however, they are better than having nothing.

Sorry I'm not providing better news but I'm being completely realistic I'm afraid.
Hope the guaranteed acceptance options info helps at least a little. 

fiwen30

Weighty1 said:

Unfortunately, it is incredibly difficult to obtain cover with CF, incredibly.  Pulse *may* be able to do this, however, they will likely be using the Lloyds of London market and have a bespoke arrangement with one of the syndicates there and their cover may include some for of exclusion, so just make sure you are fully up to speed with the terms offered.
I can say with a good degree of certainty, that if your partner has ever needed to be hospitalised on IV antibiotics due to the CF then it'll almost certainly be a "no" from all mainstream companies and even the main specialist insurer (The Exeter) are likely to have real difficulty, if not normally, most certainly now.  I'm afraid that having a respiratory condition during a pandemic which causes respiratory symptoms has even caused The Exeter to be unable to offer cover when they may have been able in the past with several of my clients.

There are 2 guaranteed acceptance options.  Google "Smart Insurance guaranteed acceptance" and "Union Insurance Services guaranteed acceptance" and it should come up with them.  There'd be a maximum of £70,000 available (£20k Smart £50k Union) and they only cover death from accidents during the first 2-years, however, they are better than having nothing.

Sorry I'm not providing better news but I'm being completely realistic I'm afraid.
Hope the guaranteed acceptance options info helps at least a little. 

Thank you so much for the info, realistic is what we need! I’ve passed your recommendations on to my partner so he can look into them.

He is in remarkably good health for a CF patient of his age, mercifully. He’s never been hospitalised due to his CF, and has never had to have IV antibiotics. He hasn’t developed diabetes, though his brother did, and his lung function has never dropped below 70%. We’re hopeful that when he starts on Kaftrio by the end of the year, fingers crossed, his health will actually improve.

We had been looking at both taking out individual decreasing insurance policies, to cover our mortgage of 115k. We have no dependents, and no plans to have any in the future, so don’t need to leave inheritances in insurance policies.

Again, realistically, he may be the high earner currently - he works full time, I work part time - but it’s very likely that that won’t be the case forever. In the best case scenario, we both find full time work, and the Kaftrio helps extend his working life. Worst case, he eventually becomes too unwell to work full time, or at all, in which case I will become the breadwinner.

Whether he will live to see the end of our 30 year mortgage term, who knows? It’s grim, but it’s the truth. After watching his older brother die from CF-related liver failure aged 26, my partner hadn’t thought he’d live to see his 30’s; but with his health still being stable aged 28, and with Kaftrio on the horizon, it’s opened up a whole future that he’s never had the luxury of considering before.

We’ve also been keeping an eye on how others with CF who also contracted COVID have been faring, and it’s actually been surprisingly positive, though they don’t really seem to know why. It is understandable that insurers would be cautious, however.

Weighty1

That's so positive that he's in such good health as you're, unfortunately, obviously aware of the implications with CF.  Firstly with Orkambi a couple of years ago and now with the triple combination drugs the treatment of patients with CF is coming on leaps and bounds.  Unfortunately, the insurance industry is typically dealing with mortality statistics which are decades out of date, so the benefits of these drugs is only likely to bear fruit within the insurance industry in 15+ years if not longer.

The fact that your partner has always had such good health does make it a possibly that ordinarily The Exeter may cover him but I'm still not confident that they would in the current climate.  But I'd be surprised if these short term issues lasted more than 12-months so, long-term, there is a realistic possibility of him arranging cover for the full mortgage.

It would probably be worthwhile your partner considering some form of income protection as well.  Long-term plans which are medically underwritten are not possible but there is a short-term plan which would cover his income for up to 12-months are available and there is a plan available via Legal & General that would even cover him for CF related illnesses once the plans been in force for 12-months.