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Critical Illness and Life Insurance Cover

Discussion in 'Diabetes Discussions' started by Yvette18, Jan 25, 2009.

  1. Yvette18

    Yvette18 LADA · Member

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    Hi, has anyone else had difficulties trying to get a policy for critical illness cover? I can get covered for dying from a Diabetes related illness but if I have a heart attack or stroke and cannot work there is no one out there who will give me an insurance policy for this. I will need an income from somewhere should the worst happen, I suppose I would have to claim sickness benefit from the Government, that's not going to pay my mortgage. :(
     
  2. catherinecherub

    catherinecherub · Guest

    Hi yvette,
    I personally cannot help you with your query. Try a p.m. to Dennis, one of the moderators. He has a wealth of knowledge about insurance.
    Hope this helps.
    Catherine.
     
  3. Dennis

    Dennis Type 2 · Well-Known Member

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    Hi Yvette,

    I suspect that the problem you are encountering is that the risk of CHD and stroke is seen as higher for people with diabetes than it is for the non-diabetic population. There are many mainstream insurers who are just not interested in that risk. However the good news is that there are several smaller specialist insurers who will provide the cover. I don't know how they compare for cost because, when the bigger insurers won't quote for critical illness, then there's nothing to compare against. But if my travel insurance is anything to go by, when Norwich Union decided they would no longer cover any pre-existing conditions but quoted me for a travel policy that would pay out for anything that wasn't diabetes related, I got quotes from smaller specialist firms and they were nearly all cheaper then the big insurers (and for much better cover).

    You could start here, from this forum's own parent site (critical illness is 4th one down)
    http://www.diabetes.co.uk/finance.html

    Alternatively I see that Diabetes UK (the charity, not this site) recommends Heath Lambert (an insurance broker), who has negotiated discounts for diabetics with various insurers. I have had dealings with Heath Lambert in the past and they are very professional and trustworthy. For more information or a quotation you can call them free on 0800 731 7431 or email [email protected]

    Hope that helps.
     
  4. benjamingig

    benjamingig · Member

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    how did you get on Yvette?
     
  5. Yvette18

    Yvette18 LADA · Member

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    I have been told that there is no insurance company out there who will insure diabetics for critical illness.
    Not even for critical illnesses that are not related to diabetes. There is one company who have a policy at the moment, but that is to be withdrawn on 31/01/09 and is very expensive.
     
  6. sugar2

    sugar2 · Well-Known Member

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    Hi, I couldn't get cover either...but Ihaven't tried the links the Dennis suggested, so will give them a try!
     
  7. Dennis

    Dennis Type 2 · Well-Known Member

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    Hi Yvette,
    Did you contact the 2 links I gave because both advertise critical illness insurance for diabetics?
     
  8. cl41re_r

    cl41re_r · Member

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    I have also had serious trouble trying to get critical illness cover. I am 23 and have had type 1 diabetes for 15 years but no one will cover me - I have been looking non-stop for the past 2 weeks and no one will even consider me. Even though I have a good HbA1c and have always had good control they are not interested. I will keep looking and let you all know if I have any luck...

    All the best!
     
  9. Dennis

    Dennis Type 2 · Well-Known Member

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  10. princyjoshu

    princyjoshu · Newbie

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    thanks for postings :)


    Note: commercial advertising removed by moderator. The ad was for a US insurance broker and in any case does not provide either critical illness or diabetes insurance.
     
  11. matthew.colley2

    matthew.colley2 · Newbie

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    Hi, i have also found criticalillnesscover.org.uk/ who provide diabetes cover through pruprotect.co.uk/ i find them very helpful, might be worth a shout?


    Matt
     
  12. noblehead

    noblehead Type 1 · Guru
    Retired Moderator

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    I got one for mortgage cover about 10 years back, most insurance companies wouldn't even give me a quote, and those that did were loading the premium at a extortionate rate. The cover I eventually got wasn't to badly priced, but do be prepared to pay above the norm.

    Feel free to pm me should you wish to know the company I have my policy with.

    Nigel
     
  13. Ardbeg

    Ardbeg Type 2 · Well-Known Member

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    I've been loathe to participate on this thread, as I joined the forum for genuine help and assistance with my recently diagnosed T2 and NOT to tout for business.

    I am an independent financial adviser (IFA) and would be happy to do some research into this and report back on the forum; but only if forum regulars are ok with me doing so.

    I've put my flak jacket on just to be safe. :oops: :wink:
     
  14. lilibet

    lilibet · Well-Known Member

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    I too have had problems :evil:

    I think its about time the system was challenged. The risks are not absolute or the same.
    Issues of age, control, pre existing conditions and many other variables MUST come into play

    About time Diabetes UK et al started to lobby for changes in the situation.

    The political context of managing long term conditions is becoming more and more (the thinking being that the health and social care systems will be under HUGE strain as years advance). Well yes, let US pay for ourselves in part then

    Simples!
     
  15. Louise_Toher

    Louise_Toher · Newbie

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    I am in the process of buying my first home and am so upset and angry that i cannot find a company who will offer me critical illness cover and Payment protection cover does not exclude my diabetes and any future diabetes related illnesses i get. How are diabetics ment to get cover?? I would accept a higher premium but im not even managing to find a company to offer me cover at all. Im so suprised that nothing has been done to change this.

    I have already tried all the links and companies mentioned on this thread and have so far found noone that can cover me.
    I have Diabetes Mody and get perfect HBA1C results.
     
  16. jollyun

    jollyun · Member

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    I have to say that one of the big problems is that no one thinks that it will happen to them so the cost of taking out insurance of any nature tends to be excessive when we work out our budget. As a broker for many years I know, insurance companies are just businesses and like any other they have to make money, they do so by assessing their own risk to reward cost. When we need insurance to pay out its usually too late to buy it because the risk now exceeds the reward. The key to getting someone to insure you for any reason, lies in your ability to convince them that there is still a benefit to them, not you, to do so. I think that the Pru have it right in their article on the following link. lifeinsure.co.uk/diabetes-improve2.php and perhaps this might help you also
    Dave
     
  17. theblokefromstoke

    theblokefromstoke · Well-Known Member

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    Hi all,

    I am relatively new diagnosed (6 months). To be honest I had not given my insurance - other than my car - a second thought.

    I have been paying Critical illness insurance insurance and Health cheque income protection for 22 years as well as mortgage endowments which cover life insurance and i have not yet told them.

    Should i contact them do you think? To be honest i have less than 3 years on the mortgage but this is a worry just the same.

    Cheers

    Carl
     
  18. Louise_Toher

    Louise_Toher · Newbie

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    As far as i know if you have insurance they have to cover you for diabetes if you get it after starting the policy so you will be fine i think.

    I think you should tell them otherwise it might make your policy void if you did need to claim for anything even non diabetic related.
    You can always ring up annonamously and ask.

    All the best

    Louise
     
  19. bwayne143

    bwayne143 · Newbie

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    You can always get an insurance for yourself. However, anyone who's lifestyle is exposed to danger pays for a huge amount of money.
     
  20. goldfish_21

    goldfish_21 Type 2 · Active Member

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    I contacted my insurer (life and critical illness cover) when diagnosed last year as I was concerned that if anything happened to me, and they later refused a claim because of me not disclosing my diabetes, then my partner would be left in the lurch. They told me that as long as I had no symptoms before taking out the policy (which I did not), then there would be no problem with continuing with the policy. I did however ask them to confirm that in writing - I am very wary of accepting things that people in a callcentre tell you over the phone. At least with written confirmation I have some sort of back up if they change their minds later. They have put my premiums up (which seems a bit suspicious coming so soon after the diabetes diagnosis), but that has been attributed to the general increase in the price of everything.

    Having read some of the threads in the employment forum, am now wondering whether I should have contacted the company that I have my unemployment insurance policy with as well. Didn't seem necessary at the time, but am not so sure now......

    Vicky
     
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