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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask for your views on critical illness cover

93 replies

Bearbehind · 21/03/2015 19:20

I'm naturally quite a risk adverse person so if I can insure against something I generally will however critical illness cover is such a lot of money (particularly if you smoke) that it seems the chances of it actually paying out in the event of illness are so slim they outweigh the cost of the cover.

I mean, if you've ever been to the doctor for an ache or pain, is ist going to bite you on the arse in the event of a claim in that it would be classed as an existing condition, even if it wasn't?

OP posts:
ApocalypseThen · 21/03/2015 19:22

It's rubbish. If you look at the list of excluded conditions, you will notice that any condition for which you may be likely to require cover is excluded. It's very rare and difficult to get anything from it. It's as useless an expense as mobile phone cover.

Original poster
Bearbehind · 21/03/2015 19:25

Thanks apocalypse, that's pretty much the conclusion I'd reached- I just wanted to check I wasn't missing the point.

OP posts:
Doyouthinktheysaurus · 21/03/2015 19:28

They will try to wriggle out of paying out if they can but as long as you answer the questions honestly and fully disclose your medical history you should be fine.

Our policy paid out when I had cervical cancer. It was a horrid time waiting for me to process everything but worth it in the end.

I think costs have increased since we had our policy though, that was in 2000 or 2001 and it paid out in 2006.

If it is very expensive it probably isn't worth it. If you or your partner are smokers, so many conditions can be linked to it that they may have a good chance of wriggling out of paying.

Plus the chances of getting a critical illness are not very high really. We always thought it could be prudent because dh is older than me so figured he might have a heart attack or something. Certainly didn't expect me to be claiming on it. Of course now, I can't afford critical illness cover because of my historyGrin

Jackiebrambles · 21/03/2015 19:28

Oh Really? I hadn't realised they didn't really pay out.

Dh and I were just considering getting it as part of a life insurance policy to cover his life. But being unable to work through critical illness is a much more likely scenario than sudden death (we imagine!).

bananayellow · 21/03/2015 19:29

I got quite a few thousand for my cancer. I'd rather not have had the money and not been ill, but given I was ill, then it was a very nice bonus.

I didn't need it for general living expenses as I was a SAHM, but if I was the main breadwinner and I couldn't have worked for several months, then it would have been a godsend.

How would you manage financially, in the worst case scenario?

Koalafications · 21/03/2015 19:33

I have a fuzzy memory and believe the statistics are 1/3 people will suffer a critically illness before age 65 1/10 people will die before age 65.

You can look at the claims stats for an insurance company and see what they are like at paying claims.

I have CIC through work so it's really cheap. Buying it privately is really quite expensive - but that's because it s more likely that they will pay out on a CI than death.

Koalafications · 21/03/2015 19:33

*critical

Original poster
Bearbehind · 21/03/2015 19:33

Dh smokes occasionally (I don't) but smoking within 12 months classes you as a smoker so his cover is astronomical.

Worst case scenario- death- we have life insurance.

Anything less we'd rely on the fact the other was still able to work and could cover outgoings.

OP posts:
bananayellow · 21/03/2015 19:34

I filled out one form. They asked for confirmation from my oncologist and then they paid out really quickly. This was just a couple of yesrs ago.

girlylala · 21/03/2015 19:34

I don't know, my friends had it. He was diagnosed with MS and it paid off most of their mortgage. He was 42.

savemefromrickets · 21/03/2015 19:35

I got a substantial sum from mine when I got cancer so personally I'm very glad I had it.

Piffyonarockbun · 21/03/2015 19:36

My DH had it through work. He was diagnosed with MS last year. They paid out 2/3 of the amount so we are currently going through the ombudsman to try and get them to cough up the rest. They have tried to avoid paying out on very spurious reasons and DH hadnt seen a doctor for 10 years prior to his diagnosis so they are on shaky ground. The money has been useful but it has caused a fair bit of stress having to argue with them for it!

Original poster
Bearbehind · 21/03/2015 19:37

What worries me is doctors history.

For example, I'm by no means a hypochondriac, but a few months ago I went to the doctor as I have a dull stitch type pain occasionally- I was told it's just a muscle and its fine but if it transpired I got a terminal illness affecting the area surrounding the pain I'd be screwed anyway as they'd say it was existing IYSYIM.

OP posts:
bananayellow · 21/03/2015 19:41

Who would look after the ill one if they needed care? Would it be unpaid leave? Would you need to pay for specialist care? Extra childcare? I think we originally took it out when the children were small but kept it on when they no longer needed childcare.

If you think you could manage financially, then it's probably not worth taking it out. If you would struggle then, like any insurance, you pay through the nose for it, hope that you never need it and hope that it will pay out at the time. Be honest with them though.

Original poster
Bearbehind · 21/03/2015 19:45

That's the thing though banana I've genuinely never had anything seriously wrong with me but have been to the doctors occasionally for the odd ache or pain or cold which I don't even remember the specific of.

If any of that would ultimately end up in them not paying out it all seems a bit pointless.

OP posts:
kavv0809 · 21/03/2015 19:48

I have been wondering about this. Does it cover any pre existing conditions or is that what makes the premiums soar? We have been quoted £55 per month cover for me and DH. He has a rare chromosomal syndrome and several serious allergies, would he be covered if he had a problem due to the allergies I wonder.

bananayellow · 21/03/2015 19:50

It's a gamble. How much would the cost of it each month, impact on your life at the moment? How would it benefit you if you needed to claim?

The cost/benefit analysis will be different for every family. I'm glad I took it out but then again I'd be bloody annoyed if I claimed and they wriggled out of it.

So far on this thread it's benefitted more people than those saying it was useless. It will be interesting to see if this changes through the thread.

Original poster
Bearbehind · 21/03/2015 19:52

Blimey, £55 and I'd probably do it, our is £200 a month on a decreasing mortgage term with no pre-existing conditions (other than DHs smoking)

OP posts:
Phephenson · 21/03/2015 19:53

I pay £39 a month through L& for life and CIC cover. The list of stuff they include was pretty extensive.
Given that my mortgage is for a buy to let property and interest only the cover will remain the same as its equivalent to the outstanding mortgage.

I don't live in the property as I live with my DH.
It covers things like ovarian and cervical cancer, I declared abnormal smears, kidney infections and all sorts, they accessed my medical files with my permission, they have no excuse for not paying out and have not excluded anything on the basis of my medical history.

Generally I'm not a cautious person at all but I feel this is worth it

Phe Smile

Phephenson · 21/03/2015 19:56

Meant to ask - if you claim I'm guessing your policy terminates when it pays out?

Applecross · 21/03/2015 19:56

I've got it, we both work but dh earns a more, it seems like a good deal to me - if you've got a reputable company such as aviva or L&G can't see that theyd wiggle out of paying that easily and we have ombudsman and bad media pr for these cases.

MovingOnUpMovingOnOut · 21/03/2015 19:59

Go with an insurer who underwrites at the time you take the policy out. If you go for one who underwrites when you claim they are less likely to pay out.

From memory (and i may be out of date): L&G, Aviva, AXA, Unum and Prudential all do underwriting when you take out the policy.

MovingOnUpMovingOnOut · 21/03/2015 20:00

Sometimes separate policies are cheaper we than joint.

Original poster
Bearbehind · 21/03/2015 20:01

That's the quote for separate Shock

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Koalafications · 21/03/2015 20:01

Yes, that's right Phephenson