Hi Guys
Been a frequent member of this forum since diagnosis in August 2005 - and boy its been a long roade - thankfully all ok and living life to the full now - check my profile for full details - Has anyone got any experiences on getting life insurance. I have just increased my very small mortgage (30 K to 48K - I know its very small compared to most people this day and age) and am looking at getting life insurance cover for 50K for the 13 years left on my mortgage - BUT seeing as though its only been only 2 1/2 yrs post diagnosis am I going to get stung with the premiums - Has anyone else out there been down this road - your thoughts are much appreciated - quotes on line are very low but they say, of course, that I must ring in for my quote as there is medical history!!! - this bloody BC is going to haunt me forever - plus - will the premiums come down if i wait till after the magic 5 years - thoughts appreciated - Clemy X
I had a recent quote for £342 per month for the first three years, and going down to £42 per month after!!
Mmmmmm… I didnt take it!
I was assured by my breast care nurse at the time, that because I had DCIS, it would not impact on my premium! Oh yes it did!
Lisa
Hi Clemy
If you are increasing an existing mortgage and you already had life cover please check you exisiting policy. Some life polices have an option where you can automatically increase your cover (subject to certain financial limits) based on certain events eg having children, moving home, or increasing the mortgage. This option can sometimes be exercised with out and medical updates so the fact that you have had cancer won’t matter. Please have a look at your policy and check
Many insurance companies will notprovide cover until you have been ned for 5 years then they charge a higher premium for the next five after that you go back to normal rates. there are a few specialised complanies that may give you cover earlier but the premiums are likely to be high. Sometimes you get a better deal if you go with the cover provided by your lender (its in their interest to cover you).
Hope this helps
Helen