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March 21, 2012 6:46 AM
UK Insurance Question: Has anyone else tried to get critical illness/ life insurance cover. I have questions:
1. Does anyone have any particular good or bad experience with insurer that one should know about?
2. I have been discussing with one insurer which wanted me to approve access to ALL my medical records. On the internet I learned that they should get a report and that I am entitled to see if before they see it. Slightly miffed that they didn't give me that choice. I called them out and they immediately offered me the option. Is that a good/bad thing? Do they now see me as a high risk or someone who has something to hide?
3. Any tips and tricks?
1. Does anyone have any particular good or bad experience with insurer that one should know about?
2. I have been discussing with one insurer which wanted me to approve access to ALL my medical records. On the internet I learned that they should get a report and that I am entitled to see if before they see it. Slightly miffed that they didn't give me that choice. I called them out and they immediately offered me the option. Is that a good/bad thing? Do they now see me as a high risk or someone who has something to hide?
3. Any tips and tricks?
1. No advice on Carriers but the actual Policy is key so be aware of the differences in coverage and take your time to read through the proposed contract of Insurance before comitting.
2.Do not take the request to see your medical records as a personal affront. Simply put from an underwriting perspective - the more information they have, the more informed the decision they make is and the more appropiate coverage they can offer. If someone is offering you insurance against your life, your medical records are entirely legitimate and this is generally standard procedure. Some Carriers may not request access but the additional resultant 'uncertainty' is built into the premiums on offer. [background - I am an Underwriter but do not write this class of business]
3. Take your time / get a number of quotes / as tel3path suggested read Which? or other consumer reviews for this product.
posted by numberstation at 8:25 AM on March 21, 2012
2.Do not take the request to see your medical records as a personal affront. Simply put from an underwriting perspective - the more information they have, the more informed the decision they make is and the more appropiate coverage they can offer. If someone is offering you insurance against your life, your medical records are entirely legitimate and this is generally standard procedure. Some Carriers may not request access but the additional resultant 'uncertainty' is built into the premiums on offer. [background - I am an Underwriter but do not write this class of business]
3. Take your time / get a number of quotes / as tel3path suggested read Which? or other consumer reviews for this product.
posted by numberstation at 8:25 AM on March 21, 2012
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Be aware that critical illness insurance only insures you against a defined set of conditions. Income Protection insurance would insure you against any illness that stopped you from working for a certain period of time, as long as you didn't have the condition at the time you signed up for the insurance.
posted by tel3path at 6:51 AM on March 21, 2012