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Thread: Critical illness insurance-thoughts pls

  1. #1

    Question Critical illness insurance-thoughts pls

    Finally getting around to sorting this out for self-employed hubby. It's not going to be cheap as he smokes but just wondered if anyone has any good or bad experiences of claiming pls? I think they're all much of a muchness. He has life insurance so just need the critical illness element.

    TIA.

  2. #2
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    I am no expert but know there can be significant differences in what is covered. I know someone who used to have cover but changed company when they re mortgaged and found out later that they could not claim on the new policy for an illness that would have been covered on the original one.

    So the only advice I can offer is - read the small print and spend time comparing as much as you can.

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    I'm no expert either but I would guess that ensuring any cover has Defaqto five star cover is a good idea. Even then the above advice would be very sound, as cover will vary slightly between companies:

    https://www.defaqto.com/star-ratings...-illness-cover
    Those who think they know it all are very annoying to those of us who actually do.

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    I think cover varies A LOT between companies.

    Some will cover only certain types of cancer, some won't cover anything self-inflicted (eg sports), some won't cover anything you may have
    visited the doctor for years ago which was not throughly/accurately diagnosed.

    Be very careful to understand exactly what is being covered - remember it's the insurers' definition of "critical" that matters, not yours

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    Thanks all - input appreciated.

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    Quote Originally Posted by VeryTrying View Post
    I think cover varies A LOT between companies.



    Some will cover only certain types of cancer, some won't cover anything self-inflicted (eg sports), some won't cover anything you may have

    visited the doctor for years ago which was not throughly/accurately diagnosed.



    Be very careful to understand exactly what is being covered - remember it's the insurers' definition of "critical" that matters, not yours

    Surely choosing a company with Defaqto 5* cover would mean very comprehensive and very similar levels of cover?
    Those who think they know it all are very annoying to those of us who actually do.

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    Quote Originally Posted by Dominic View Post
    Surely choosing a company with Defaqto 5* cover would mean very comprehensive and very similar levels of cover?
    Although Defaqto 5* is a very good basis for comparison, "very similar" isn't a good enough reason for relying on it.

    For example, take two insurers. Say you get a benign brain tumour - one pays out but the other only pays out if you need surgery
    or have permanent symptoms. Which policy do you wish you'd taken?

    So, yes, Defaqto 5* is good for starters, but is not enough to base a final decision on.

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    Quote Originally Posted by VeryTrying View Post
    Although Defaqto 5* is a very good basis for comparison, "very similar" isn't a good enough reason for relying on it.



    For example, take two insurers. Say you get a benign brain tumour - one pays out but the other only pays out if you need surgery

    or have permanent symptoms. Which policy do you wish you'd taken?



    So, yes, Defaqto 5* is good for starters, but is not enough to base a final decision on.

    But I doubt very much a Defaqto 4* or 3* policy is going to have better cover than a 5* one! And I doubt a 5* rated policy will have lots of loopholes in it either. Ultimately the only way we are going to prove the point would be to wade through several 5* rated policies. I'm certainly not going to, I haven't the time, but I'm confident all your 5* ones will be better than lower starred policies, and I'm confident you'll find very little of substance to separate the top end 5* policies in content.

    But ultimately it's like any insurance. Your level of cover will generally be better with a more expensive policy than a cheaper one from the same provider.
    Those who think they know it all are very annoying to those of us who actually do.

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    Those who think they know it all are very annoying to those of us who actually do.

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    Quote Originally Posted by Dominic View Post
    But I doubt very much a Defaqto 4* or 3* policy is going to have better cover than a 5* one! And I doubt a 5* rated policy will have lots of loopholes in it either. Ultimately the only way we are going to prove the point would be to wade through several 5* rated policies. I'm certainly not going to, I haven't the time, but I'm confident all your 5* ones will be better than lower starred policies, and I'm confident you'll find very little of substance to separate the top end 5* policies in content.

    But ultimately it's like any insurance. Your level of cover will generally be better with a more expensive policy than a cheaper one from the same provider.
    Dominic, you are quite right (I've got to say that because I know how you hate to be proved wrong )
    Obviously anything 5* is better than something 3*, even hotels or Amazon reviews.

    But I am concerned that you have such confidence in something which you haven't bothered to research yourself.
    You are unwilling to prove your point by "wading through several 5* policies" as you put it, yet still insist on claiming that
    there will be very little of substance separating them. What do you know? As you can see, I've proved my point, by giving you the
    differences on brain tumours. Now, that mightn't matter to you, but it is sure to matter to somebody who gets a brain tumour!

    Why don't you just give up the argument now? Trying to convince us that insurance companies have our best interests at heart is
    not a good position to take up. Anybody who is thinking of taking out a policy needs to check the offerings for themselves
    instead of taking somebody else's word for it that it will be alright. Even when the advice comes from Dom

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