In a recent blog post pointing out the benefits of using an adviser such as myself to arrange your life and critical insurance.
One of the key points I made was that we can get you a great deal on price but I also pointed out that not all policies are the same some are more generous than others on certain conditions than others and an adviser can help you to decide when it is worth paying a little more for a better policy or for one that has a more generous definition on a particular condition that you may have a particular concern about. So I thought I would give a few real-world examples and starting at the top of the alphabet we have Angioplasty.
If you are not familiar then Angioplasty is a surgical procedure that you may have to have if you have a narrowing of the arteries leading to your heart. A balloon is inserted on a wire and inflated to expand the artery, and then deflated and removed. In some cases, a stent is may be fitted to strengthen the artery wall or keep it open. It usually involves a reasonable period of recovery for most a few weeks, but you will often be left with associated conditions that mean your quality of life will be affected. And it is most certainly a shock to your mental system often resulting in a change in priorities.
Many years ago pretty much all critical illness policies covered Angioplasty but because of the increase in quality of the treatment and the number of people who return to normal life is very high many modern policies don't.
At the moment there are about a dozen critical illness insurers who have made it through our screening of their financial strength and terms and conditions etc. Of those companies that have made it to the point, we would consider recommending a client take out a policy with them only Two still cover Angioplasty and one other offers a partial payment(25%). The others simply no longer cover Angioplasty for new customers.
As an adviser I've put the work in to know which do and which don't cover numerous conditions, so if heart problems are an issue in your family, wouldn't you like to be dealing with an adviser that knows which companies are worth paying a little more to for a plan that covers a condition that matters to you. So please arrange your critical illness cover through an adviser, not through a search engine!
If you'd like to discuss your needs drop me an email using the form to the right or give me a call on 0191 4066453 and we can arrange to have a chat on the phone or skype etc.