Life insurance

[bennyg70]

Hi all,


Has anyone got any recomendations for getting life insurance?

We are looking to take a out a mortgage soon and need cover, so Ive been working with one of these finance specilists who specialise in getting cover for diabetics. However the first attempt with Aviva was unsuccessful. Apparently their decision was borderline after looking at my medical records. I assume its down to A) Being diabetic, and B) a couple of warning signs of possible complications, ie raidsed BP, Protein in urine and retinopathy.

Any one had any experience of getting life insurance that may be able to point me in the right direction?

Also I take it for us diabetics, critical illness cover - no chance?

Cheers all

 

[Cleo]

Morning,
I don't have any experience / knowledge of this but if it were me I'd Start by contacting someone at diabetes Uk - maybe a policy person or something?. They might save you time by telling you the general laws / rules so you'd have a better idea of what to expect / the pitfalls before approaching the insurance companies.
Good luck !

 

[zuludog]

We needed new life insurance/ mortgage protection (ie to pay the outstanding balance to the mortgage provider if either of us should die) when we moved house, and just got in touch with Diabetes UK. They passed me on to their insurance agents and insurance companies. I can't remember all the details now, but it was all straightforward enough.

To keep things as simple and cheap as possible we went for a life insurance policy that would cover the outstanding mortgage and no more, just enough to satisfy the building society
Then we opened a straightforward savings/deposit account with a standing order payment into it. This would provide some money for my wife if I did die; or other way round. Not as much as a life insurance policy, but there would be no quibbling if and when.
But we would have another income. The house is 4 bedroomed with a garage, worth about ?230,000. If either of us did die, we wouldn't need such a big house, and would downsize. The profit would be our insurance payment. And as the mortgage would have been paid by the life insurance the person still living would receive the full value of the sale.
Always remember that the main purpose of an insurance company is not to provide insurance, it is to make a profit for the shareholders, and if they can find a way of wheedling out of paying up, they will

 

[everydayupsanddowns]

I got mine ages ago and have just sort of brought it with me through various mortgage changes and they don't seem to have asked any questions since the first medical. I think it was initially with someone else who then got acquired... who then got acquired... It is now Aviva - so that doesn't help you much since you've tried them already.

Would this be one of those questions that DUK might be very useful for?

Might be worth dropping them a line.

Good luck with your search!

 

[Northerner]

Might be worth contacting an independent insurance broker, as they should be able to give you unbiased advice about your options, rather than pushing particular products. Have a look on http://www.biba.org.uk/CustomerHome.aspx 🙂

 

[bennyg70]

Cheers guys, gives me a few avenues to go down if they have no luck with their reserve company!

 

[Redkite]

Let us know how you get on. I don't see why people with diabetes shouldn't be able to get critical illness cover, possibly for a higher premium - there is no increased risk of cancer etc. surely?

 

[Northerner]

Let us know how you get on. I don't see why people with diabetes shouldn't be able to get critical illness cover, possibly for a higher premium - there is no increased risk of cancer etc. surely?

I imagine it's mostly due to cardiovascular disease risk. We lose out when it comes to insurance, but hopefully those of us who remain fit and well will benefit from enhanced annuities when we retire!