I'm 49 and have a medical history of chronic but not life threatening problems (e.g.e osteoarthritis). Norwich Union have offered me 10 years life cover at a rate of £1 per £1000 per month. (£50pm/£50,000 cover) How does this compare with someone without a medical history? Are there tables of comparative rates for the UK anywhere on the net? Thanks.
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There's a link to a table in The Daily Telegraph in my last post on the subject
-Daytona
Thanks for that. Just looking at the post itself, it suggests a weighting of some x15 for me against a 30 year old with no medical history. That sounds a lot for reaching
50, albeit with two operations and arthritis! But then what do I know? Maybe my chances of popping my clogs in the next 10 years are somewhat higher than I've been led to believe by the doctors.... !On the other hand, compared to my car it's a pretty good deal. I pay £25 a month and except for the very unlikely case of a legal claim for big bucks, they're pretty unlikely to pay over £20,000 on a claim. Mmmm... about the same as my proposed life insurance rate...
Oh well, some more reading to do...
Jim
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Go talk to an IFA/broker. They may be able to give you an idea of how the insurers calculate the premiums and put you in touch with more specialist insurers.
Another of my posts on the subject gave the name of a specialist insurer -
Daytona
Does anyone know if the industry is as generous with impaired life annuities as they are punitive with life cover? After all, if they load your premium by x% because of extra health risk, they should increase your annuity by the same amount..
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