Message Boards for the CF Trust

Replies: 4 Pages: 1

anteater

Posts: 3
From: Essex
Registered: 03-Dec-2006

Life insurance - HELP!
Posted: 03-Dec-2006 20:33

Reply

Hi there,

My partner and I are starting to look for a new house with a mortgage. We have had our 'interview' with Lloyds who will offer us a mortgage, but they WON'T offer life insurance for me AT ALL because I have CF and diabetes. I understand that they may not want to cover me for those conditions, but what if I were to get something life cancer (hopefully I won't, but you never know...!) - I wouldn't be covered for this. My partner would not be able to pay for my half of the mortgage if I were suddenly unable to work for whatever reason so I'd really like some insurance of some sort. Does anyone who currently has a mortgage have life insurance? And if so, where did you get it from? Did it include or exclude your CF? Any help or advice is gratefully received, thanks! xxx

Tim Davies-Moss

Posts: 145
From: Shropshire
Registered: 06-Nov-2006

Re: Life insurance - HELP!
Posted: 03-Dec-2006 20:36

Reply

My financial advisor told me there is NO company that will offer life insurance on a mortgage if you have CF.. so if anyone has any other ideas.. id like to know too

tim

sandylizz

Posts: 97
From: Shrewsbury
Registered: 10-Nov-2006

Re: Life insurance - HELP!
Posted: 03-Dec-2006 20:36

Reply

This issue has been mentioned on a few occasions but due to the crash its all been lost..
Someone correct me if im wrong but you really will struggle to get life assurance bacause of your CF so the only way to get a mortgage is to not have the insurance for you Im afraid..

xx Sandy xx

DimBloke

Posts: 102
Registered: 11-Nov-2006

Re: Life insurance - HELP!
Posted: 03-Dec-2006 20:49

Reply

This one seems to surface quite often.

Essentially having CF, even if you are well, means you are a very poor insurance risk so even if you could find someone to insure you the premiums would be astronomical. Getting cover to exclude CF is okay in theory but the problems is that having CF also gives you a higher risk of other illnesses including certain types of cancer.

Having CF also often screws up your ability to get income protection policies although apparently there are some companies that will consider covering you for this as long as CF and any other illness or condition that might conceivably be related to CF are excluded from the policy. Whether this sort of policy is value for money given the exclusions is doubtful but perhaps worth checking out.

When I took out my mortgage I decided to put aside a chunk of cash monthly and when the time comes that I can't work I will use that to pay the bills for as long as the money lasts.

dawnypink

Posts: 39
From: North East
Registered: 06-Nov-2006

Re: Life insurance - HELP!
Posted: 03-Dec-2006 21:35

Reply

When I got my mortgage I tried everywhere to get Mortgage Protection and never managed to get it. I think it would be highly unlikely that you would get it, and even if you did get it excluding CF there is no doubt that the insurance company would try and wangle out of paying out as they don't like paying out. So if it was something CF related which would be likely you will have thrown away your money.
I have a savings account which I save as much as I can 'for a rainy day'

Dawny xxx