Taking out critical illness cover


I’m trying to set up some critical illness cover. I just want a years’ salary worth of cover in the event if getting another critical.illness rendering me unable to work. My Ms is thankfully not to bad and I function fairly normally. I am otherwise fit and well at 41. I’ve just tried to set up cover with legal and general, declared MS at the application stage. They requested records from my GP and have now said they can’t offer me critical illness, just life Insurance. It is specifically critical illness I want, I don’t require.life insurance. I’m just wondering if Ms is across the board a reason they won’t insure? But if so why ask for.my.records why not decline immediately at application? Has anyone managed to find an insurer who will offer critical illness cover? Or would I be looking at income protection instead? Just don’t want to keep going through this process and sharing my medical info with loads of insurers to get the same answer. Of course I expected exclusions for anything related to Ms…but I don’t see how having Ms increases my risk of cancer, heart attack etc.

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Insurance is all about risk and the companies rely very heavily on historic data. The data on people contracting another critical illness having already been diagnosed with MS will be severely limited. Without data they can’t quantify the risk properly and will either choose not to offer cover or load the premiums to be unaffordable.
Even though you are doing fine at the moment statistically you are more likely to decline faster than someone without MS and suffering another critical illness is likely to impact your health more than it would someone without MS. I do know people in their 80s living good fulfilling lives.
Insurance is a form of betting and the companies are conservative by their very nature and risk averse. They will only insure what they can quantify.

I hope someone can suggest a company willing to cover you.

You might struggle to find cover at a sensible cost, and I would suggest your best bet is to enlist the help of an insurance broker.

I assume you’ve checked what, if any, cover comes with your employment? One of the best ways for people like us to get suitable cover is being part of a group insurance/pension arrangements that come offered by our employer as part of the employment contract. Easier said than done if you aren’t already in that fortunate position. But it’s a very, very important employee benefit for anyone with a chronic condition that makes individual cover had to come by.