Critical Illness v Income Protection

[jamesbrown]

Contractor income protection and the myth of unemployment cover exposed

[BlueSharp]

Spoke to a guy last year who said Income Protection was a bit of a joke for Ltd Co Directors because you'd basically have to exhaust and wind up the business before they'd pay anything.

Dunno how accurate that is, but it kind of makes sense.

I'd like to look into Critical Illness sooner rather than later, especially now the Mrs is a full time mum so will be watching closely.

I agree out of the two I would take CI as I thought the bar for income protection for an office worker was very high, working in Oil and Gas or something more physical I could understand, and I know a labourer who has it and uses it once every couple of years (back problems).

Obviously your mileage may vary and speak to someone regulated to give advise, as I'm just some bloke on the internet.

[vwdan]

Spoke to a guy last year who said Income Protection was a bit of a joke for Ltd Co Directors because you'd basically have to exhaust and wind up the business before they'd pay anything.

Dunno how accurate that is, but it kind of makes sense.

I'd like to look into Critical Illness sooner rather than later, especially now the Mrs is a full time mum so will be watching closely.

[BlueSharp]

Where are the private medical care and life insurance options?

Income protection I ruled out because of the 'not being able to drive/commute exclusion'.

[vetran]

Where is No Mortgage option?

You are right renting a flat over a kebab house is pretty cheap. Is Miss Victoria (aka as "Sticky Vicky") still living in the next door flat.

[original PM]

What Halo said.

One of the main problems I find with these is that when you read the small print they actually do not cover that much

bit like a car warranty - anything which can be put down to 'general wear and tear' is not covered.

[Halo Jones]

What ever protection you go with - under the section of any pre-existing conditions write "see attached" & get a 10 year historical print out from your doctor.

That way if you ever have to (& I hope you don't) claim they cant try the old "well you never told us about that time you went to the Dr with a headache - which obviously was a symptom of xyz"

I don't have any insurance because as soon as I say MDS its assumed that I am about to drop dead & the premium becomes laughable !

[PhiltheGreek]

make sure my arse is covered

About time too, you dirty beggar.

[SimonMac]

Where is No Mortgage option?

Living in your car DOES NOT equal no mortgage

[AtW]

Where is No Mortgage option?

[SimonMac]

New mortgage so time to pretend to be a grown up and make sure my arse is covered, who's got what?

EDIT; bugger meant for this to be a multiple choice poll