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Critical Illness Cover
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Hi there, I am wondering if anyone out there can help as this is driving me demented. My husband was diagnosed with ulcerative colitis (form of Crohns Disease) 18 months ago. We moved house 6 months ago but are finding it really hard to get critical illness coer anywhere to cover our mortgage (should anything happen) without the premium being through the roof on a monthly basis. I wondered if anyone has had a similar experince or if anyone could recommend a company!!! Any help would be gratefully appreciated.
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Hi Cobie,
I also have UC and have been unable to get critical illness cover. I reckon it is just one of those things that they reckon will cost them a lot in the future. Unfortunately the statistics show that you are more likely to develop colon cancer if you have had UC more than 6 years (which I have), so the insurance companies won't insure you unless you are perfectly young and/or healthy.
Would you be better off putting monsy aside each month in a high interest savings account, so if you needed some extra if you husband was off ill, you could use that? Also, make sure YOU get critical illness cover, so if the worst happened and both of you became unable to work, you would be able to have some income. Try and get as much as you can so it could cover you both.
I do have sickness insurance (as I am self employed) which kicks in if I am off work for 4 weeks or more, but it does not include any diseases I had from when I first set up the claim (2002). So if I was off ill with Colitis, I would be stuffed. But if I broke my leg I would be okay! Your husband could go for something like that, so if he was ill with anything else, you could still make a claim.
I also have UC and have been unable to get critical illness cover. I reckon it is just one of those things that they reckon will cost them a lot in the future. Unfortunately the statistics show that you are more likely to develop colon cancer if you have had UC more than 6 years (which I have), so the insurance companies won't insure you unless you are perfectly young and/or healthy.
Would you be better off putting monsy aside each month in a high interest savings account, so if you needed some extra if you husband was off ill, you could use that? Also, make sure YOU get critical illness cover, so if the worst happened and both of you became unable to work, you would be able to have some income. Try and get as much as you can so it could cover you both.
I do have sickness insurance (as I am self employed) which kicks in if I am off work for 4 weeks or more, but it does not include any diseases I had from when I first set up the claim (2002). So if I was off ill with Colitis, I would be stuffed. But if I broke my leg I would be okay! Your husband could go for something like that, so if he was ill with anything else, you could still make a claim.
i work for a life cover office and the only thing i can suggest is to take it out in your name only. i know this wont help if he is the bread winner but its the only thing i can suggest, life companies are not evil they use statistics only to work out probabilities and its as simple as that, fat people have to pay more and they hate that, but the way they see it is if your fat you die younger. and that is a statistical truth thats the way it works its how they keep premiums down
To be perfectly honest, I think critical illness benefit is a con, if you read the small print about what a critical illness is, it doesn't matter how many strokes you have, if you can still feed yourself then you are not critically ill. It's diablical, don't bother fighting for it, benefits which you have contributed to will cough up quicker.
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