Life Insurance shocker

resusjan

HI everyone,

I've just had a bit of a shock ! Been online to sort out life insurance as I realised that my current level of protection wouldn't cover the mortgage. I went on one of the comparison sites, found a relatively good deal and then went through the application form on line. Anyway, I was honest and declared my rheumatoid arthritis, hypothyroid and pernicious anaemia and

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they refused to insure me.

I'm actually really upset about it and just a little freaked out - Does that mean I don't have a life expectancy past the 20 years term I put on (I'm 42). I rang my sister who has done her best to calm me down but I'm really upset about it. Has anyone taken out life insurance after being diagnosed? Who do you recommend? I'm really scared now.

tinydancer

Ive had inflammatory arthritis for past 3 years but formally diagnosed as RA last Wed. I never even thought about my insurance, oops! Better inform them, dreading it now hope u get yours sorted though

ironic

Well, to be honest I had never thought of that either, I am sure this must have come up before. I wonder if the helpline team would have come across this. Maybe the CAB.
I x

Annah

It doesn't mean anything about your actual life expectancy, its just insurers being risk averse. They loaded my mum's insurance too, even though at the time she was perfectly healthy, just blind (she lost her sight years ago).

I understand from listening to Moneybox on BBC Radio 4 that if you're in a special category, like having chronic illnesses, you are best going with a specialist insurer and keeping off general comparison sites.

I just Googled "life insurance with health problems quotes" and got several specialist sites, including QuoteRack. I have no idea if they're any good, but life insurance is available for people like yourself.

dreamdaisy

Apparently we are a 'risky' group of people for insurers (like all insurance they only like the 'safe' bet) and this only reflects their pathetic ignorance of the human condition. I have no life insurance as the only person to be affected if I pop off will be Mr DD and he's financially OK. I don't use comparison sites as they are only used by expensive insurers. I am sure that research will bring up those who can deal with the likes of us, Annah has already given you a starting point, so I wish you well in your hunt and I hope you can find a deal that works for you. DD

kellerman

I found there would always be some-one who would insure you at a price.
I managed to get holiday insurance to go to Egypt but I did shop around.
My life insurance has been hiked up but again I was going to change companies so they decided to charge the quote I found online to keep our custom.Do decide the best one for you.The prices can vary a lot.
I hope you manage to find a reasonable quote. May

traluvie

I am 32 and unable to get life insurance..

I had to tell them about previous illnesses etc, and because i have had cancer cells previously(even though everything is now gone) they will not touch me..

kellerman

Tracy.....Have you tried googling? I've had cancer twice and although it can be quite expensive there are companies who will insure you.
Again you need to shop around as prices vary a lot. May

tkachev

I'm currently starting a life insurance policy and have given all my details, R.A and asthma, THR and possible further surgery all the medication and so far they haven't refused me although my monthly payment hasn't yet been finalised. Today I had my BP taken so the final report hasn't been sent by the GP, although over the phone they say it is all looking okay so far but I suppose it could still get refused.

If you want to PM I can tell which company I'm dealing with. I'm going through my previous endowment company as my policy has now matured and like you I need to arrange anew. They suggest going through a IFA to get the best deal but you've still got to find one you trust.

I'm looking for cover upto age 65.


Elizabeth xxxxtkachev

Wonkylegs

we recently changed our mortgage provider to finally get rid of the endowment mortgage we were unfortunate enough to have decided on, and as part of this process needed to arrange life cover for me since we were cashing in the endowments we currently had.

We did this all through an independent financial adviser who was used to dealing with different situations. He had an idea of who to approach in the first place, and gave us some very good advice whilst also helping us to get better cover than we could have done on our own.

It did involve me giving very detailed info (he filled all the forms in for me ) and the company did ask my GP for a report. also I had a nurse visit me to do a small medical.

I was totally honest about everything and that meant that yes, my cover was weighted, but it was cheaper than I had anticipated since they were also aware that I was very closely monitored (the nurse was shocked at my having monthly blood tests :shock: ) and had also been very honest, it was more reasonable.

I would always use an adviser in the future for this kind of cover.

WOnky

resusjan

Thanks for all your replies - I will try the suggested company and also find out if their is an IFA local to me.

I'm thinking about insuring myself and my husband on seperate policies, that way if one of us goes before the other then we will have the security from the life insurance but also, if we both went at the same time in a car or motorbike accident, then the kids will get double the amount through the two policies.

I already have some life insurance that I took out before being diagnosed and haven't told them about my condition - I wasnt sure if you had to as it wasn't a pre existing condition when I took the policy out, I think I need to get some advice. As suggested, I'll get in touch with either an IFA or CAB. Its so annoying though. I understand they are risk averse, but its life insurance not critical illness or income protection so would only be claimed for in the event of my death. I just want to make sure that my husband, or myself, could continue to live in our house if one of us wasn't around.

I'm not even sure how truly independant IFA's are - I don't want (and can't afford) to line someone else's pocket. I've never used an IFA before.

Thank you all for your replies - I appreciate your time and ideas. I'll let you know how I get on

Jan xx

freesia

Hi There..

It "MIGHT" just be worth ringing the A/C helpline, I have recently got various numbers off of them for companies whom offer good travel insurance with people with Various Medical conditions... As on-line ones where very expensive...

So it "MIGHT" be worth seeing if they can give you some organisations to try for Life Insurance too....??

Good Luck
Hugs
freesia x

freesia

resusjan...

I too already "luckily" took out life insurance a few years ago "before" having a diagnosis of OA....
I'm NOT legally minded, but understand that if your were truthfull on the original application, you should be OK..

But If anyone help know's any different - PLEASE LET US KNOW

Thanks everyone
Hugs freesia x

resusjan

Thanks Fresia,
I've looked at my current policy and it doesnt state anywhere on it that you have to update them on any conditions diagnosed after policy inception. I'm so glad I didn't cancel this policy in order to take out one with a higher value.

I'm still underinsured, hence trying to get quotes, but at least some insurance is better than no insurance!

Jan xx

traluvie

kellerman wrote:

Tracy.....Have you tried googling? I've had cancer twice and although it can be quite expensive there are companies who will insure you.
Again you need to shop around as prices vary a lot. May

Thanks will look into that..

tkachev

I'm certain you don't have to tell your life insurance company about any new symptoms/illnesses that start after a policy is taken out. They use the information to assess their risk at the start of the policy.


I once was covered for 6 major illnessess on a critical illness policy ,one of which was Rheumatoid arthritis, but it was cancelled during my divorce and before I was diagnosed!

Elizabeth xxx