Type 1 Critical illness with life cover - Rejected ... Any suggestions ?

[lukey2k]

Hello

My and my fiancée are currently going through the process of buying a house, we went to enquire about Critical illness with life cover policies and I was rejected.

Any one else experienced this to, being diabetic ?

If so are there any firms that provide cover without being stupidly expensive ?

Thanks in advance

Luke

 

[MISTY10]

Just to say my life insurance quotes a year ago were 200% loaded. I have life insurance on my previous house so left that in place but house is only half the value of this one - fortunately hubby has the better job so if I pop my clogs he could still manage on the lesser pay out.
Not much help but thought I'd just say it's likely to be cheaper now than in the future for you.

Misty x

 

[AndBreathe]

Hello

My and my fiancée are currently going through the process of buying a house, we went to enquire about Critical illness with life cover policies and I was rejected.

Any one else experienced this to, being diabetic ?

If so are there any firms that provide cover without being stupidly expensive ?

Thanks in advance

Luke

A couple of questions first:

Did you see an Independent Financial Advisor, or someone at your Bank or Building Society?

Was the policy you applied for for Life Assurance (LA) and Critical Illness (CI) rolled into one, or was it one policy for Life Cover and another for CI?

What was your latest HbA1c result? Have you had any serious hypos, or do you have any complications?

How is your general health? By that I mean, "well" or "I'm walking wounded", or whatever. I'm not asking for your medical history.

I have some knowledge in these areas. I am not a financial advisor.

 

[catapillar]

Hiya, I was told I wouldn't get critical illness cover as a type 1. Although I think there is maybe one or two companies that do it but it is obviously going to be a lot more expensive. I decided not to worry about critical illness cover because I've got good sickness pay etc with work - so maybe have a look at that to decide if you really need to spend tonnes on critical illness. I didn't have a problem getting life insurance (I think it worked out about 25% more because of the diabetes) it took a bit longer & involved the insurance company writing to my gp etc.

Sorry it's not that positive. Maybe someone will come along with a more positive answer. Good luck with the house purchase!

 

[lukey2k]

A couple of questions first:

Did you see an Independent Financial Advisor, or someone at your Bank or Building Society?

Was the policy you applied for for Life Assurance (LA) and Critical Illness (CI) rolled into one, or was it one policy for Life Cover and another for CI?

What was your latest HbA1c result? Have you had any serious hypos, or do you have any complications?

How is your general health? By that I mean, "well" or "I'm walking wounded", or whatever. I'm not asking for your medical history.

I have some knowledge in these areas. I am not a financial advisor.

Hello , It was through the bank. was one rolled in to one.. not had any serious hypos and no known complications , I can not remember what my last HbA1c results where , they were not great .... general health besides my diabetes is of normal health . just wondering who people go to for their insurance

 

[lukey2k]

Hiya, I was told I wouldn't get critical illness cover as a type 1. Although I think there is maybe one or two companies that do it but it is obviously going to be a lot more expensive. I decided not to worry about critical illness cover because I've got good sickness pay etc with work - so maybe have a look at that to decide if you really need to spend tonnes on critical illness. I didn't have a problem getting life insurance (I think it worked out about 25% more because of the diabetes) it took a bit longer & involved the insurance company writing to my gp etc.

Sorry it's not that positive. Maybe someone will come along with a more positive answer. Good luck with the house purchase!

i don't get sick pay from work so i need to look in to something in case the worst happens...

i will keep looking , just trying to get a feel what others have done in my situation

 

[anna29]

Hello

My and my fiancée are currently going through the process of buying a house, we went to enquire about Critical illness with life cover policies and I was rejected.

Any one else experienced this to, being diabetic ?

If so are there any firms that provide cover without being stupidly expensive ?

Thanks in advance

Luke

Hi Luke
Would it be possibly worth popping along to your local CAB
Citizen's Advice Bureau

They may be able to advise you more correctly possibly ?
Banks and insurance company suitable to approach etc
As you may hear of something or someplace you hadn't even considered .

Please do let us know how you go on .
As we will be wondering and your experience could help others here .

 

[AndBreathe]

Hello , It was through the bank. was one rolled in to one.. not had any serious hypos and no known complications , I can not remember what my last HbA1c results where , they were not great .... general health besides my diabetes is of normal health . just wondering who people go to for their insurance

OK, so you have a handful of issues there. I would have no idea which was the stumbling block, but to be honest the financial advisors at your Bank are unlikely to have access to the whole of the market when making a product recommendation to a customer.

I would suggest you do a few things:
- Ask around your friends and see if you can find a recommendation for an Independent Financial Advisors. Word of mouth is often the best way to find someone decent.
- Secondly call your Doctor and get the results of your last set of bloods. You will need a good grasp of where you are with your diabetes, as you will likely be asked about it, sooner or later.
- Thirdly, try to get your diabetes under decent control. A poorly controlled diabetic isn't a great risk for long term Life or CI, and I am assuming you're looking for long term (Over 5 years) cover to go with a mortgage.
- Fourthly, you might want to click on the following link. As you will see, they know of sources of Life and CI for T1s, and may be able to provide you with a quoute.
- Fifthly - Open your mind to having more than one policy so that you can trry to get the best fit of cover for you both.

I can't tell you it'll be easy, and I would suggest your premiums are likely to be loaded; probably significantly. If your fiance is in good health, she may be offered her cover without loading.

http://www.claybrooke.org.uk/diabetes-life-insurance/critical-illness/

http://www.the-insurance-surgery.co.uk/about-us/news/diabetes-critical-illness-insurance

@lukey2k - I've just popped back to add the links. My neighbour popped in unexpectedly and I pressed send without thinking.

Good luck with it all, and if I can help further, let me know.

 

[lukey2k]

I didn't realise there was a insurance service through this site ( http://www.diabetes.co.uk/diabetic-life-insurance.html )
I will see what quotes I get back..

 

[AndBreathe]

@lukey2k - I've just added the links I talked about to my earlier post.

There will be others out there. I have no associations with the companies in the urls.

 

[craner100]

Hi Luke I would strongly recommend you use Quote Me Less I took a policy out with them and i'm paying £5.00 per month.

 

[Karen81285]

Hi

I looked at getting critical illness insurance when I bought my house and I was told that it was not possible and insurance companies don't legally have to insure type 1 diabetics and that was that. I would have though that in this day and age it would be illegal to discriminate that like but apparently they can get away with it.

Karen

 

[DCUKMod]

Hi

I looked at getting critical illness insurance when I bought my house and I was told that it was not possible and insurance companies don't legally have to insure type 1 diabetics and that was that. I would have though that in this day and age it would be illegal to discriminate that like but apparently they can get away with it.

Karen

Karen - The truth is insurance companies don't have to insure anyone. There are many, many conditions, lifestyle choices, medical history or even jobs that make and given individual a less attractive gamble for an insurance company.

There are so many conditions and lifestyle choices that impact on a given person's desirability as far as insurance companies are concerned. As well as medical conditions they look at family medical, lifestyle, occupation, and their existing client base. If, for them, it doesn't add up, they will decline the person or load their premiums.

 

[Colin of Kent]

I had some trouble obtaining 'normal' life assurance a few years ago. I was after a joint policy with my wife, who also has health complications that have so far eluded a diagnosis. Along with my gastric problems, this makes us a bit of an unknonw quantity in the insurance world. We do have some basic form of cover, it's a little limited, but better than nothing. It was arranged through Cavendish Online.

 

[Aleric]

Hello

My and my fiancée are currently going through the process of buying a house, we went to enquire about Critical illness with life cover policies and I was rejected.

Any one else experienced this to, being diabetic ?

If so are there any firms that provide cover without being stupidly expensive ?

Thanks in advance

Luke

Yes there are firms that now offer life cover for diabetics. Try Clarity Life