Critical Illness Cover - is it worth it?

[curlygal]

Having recently gone part time at work I am looking to cut down my monthly costs.

I am currently paying £29 for a life insurance (decreasing term to cover the mortgage) and CI policy.

As a very healthy 35 year old woman is this money well spend? I am tempted to cancel the CI part which is c£25 so that I would be paying approx £5 a Life cover only.

I am a single parent, I get good sick pay from work. I have not had a sick day in years.

What do others think about CI - is it worth my paying it in the slim chance that I may need it? I've hard that Ci is unlikely to pay out any way as only pays for specific named illnesses.

opinions welcome to help me decide!

CI policies vary greatly from each provider. I think you need to look at what specifically yours covers the less good ones cover about nine conditions and the better ones cover around thirty. You need to think about how long you have had the cover as if it was priced a while ago ie 5 years plus if you cancel you may never get as good a deal again. Have you been to the doctor with any complaint while you've had the policy running? Remember should you be unfortunate enough to need to claim on this policy you don't have to pay the mortgage, you could use the money to fund private treatment or drugs if you chose to. Or a holiday with your child(ren). Also does it include children's cover? I think it a small price to pay for peace of mind - I have this cover. Afterall if you did get the dreaded news it could be the only good thing that comes of it. IYKWIM.

i think if you find yourself diagnosed with cancer (god forbid) they are worth every penny... i guess its a risk tnat you choose (or choose not) to take

i get my death and critical illness insurance for £14 a month