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critical illness cover ??

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Iv'e had crtical illness cover with the same policy for 20 years. Now they write to me and say they want to increase my premium x3,in order to prvide me with the same level of protection. Can they do this, I thought taking out cover at a young age meant my premium stayed low. It isn't a low start policy..... Not happy I may cancel:grump:

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Are you from the US?

    I'm assuming that to be the case, most of us here are from UK so this isn't an issue for us because the NHS covers us automatically.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Yes they can, if for example you've just turned an age milestone, they will assume your risk has increased and your premium will reflect that.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    on critical illness
    MoK wrote: »
    Are you from the US?

    I'm assuming that to be the case, most of us here are from UK so this isn't an issue for us because the NHS covers us automatically.

    I am from the uk. Sorry didn't make myself clear...... this policy is to replace my earnings should I fall permenantly or long term sick
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Ah right, then yes they can, for two reasons.

    1. You risk increases as you get older
    2. So does your income and your potential income becomes easier to predict
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    There's nothing stopping you from shopping around, although i'd stick with one of the bigger banks.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Yeah do shop around, but keep in mind that policies with smaller companies are almost always underwritten by larger companies and often because they are so called "smaller" can usually offer you a better deal on your premium
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    I found when I did have critical illness cover that in most cases in my personal circumstance I wouldnt have been able to get it. This was in the past at my old job.

    Its an important thing to have if it is of use to you, so do shop around for good prices.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    thanks

    thanks for your replies peeps. Looks like I'll be shopping round then.
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