Critical Illness Insurance – a tale of two Doctors

Doctors Mortgages

Doctors experiencing critical illness

Here at A Mortgage Now we are strong believers in our clients protecting themselves and their families through life and critical illness insurance.

Recent events affecting two of our clients justified our faith in critical illness protection.

What is particularly powerful is that both of these clients are Medical Doctors and more used to supporting others than having to deal with the consequences of serious illness themselves.

Thankfully they have both survived to tell the tale, and we were grateful that they were prepared to talk to us about their experiences of critical illness insurance.

Read their stories below – we have altered our client’s names to protect their privacy.

Richard’s story – diagnosed with Cancer at age 39

Richard is an Anaesthetist.
A family man with two children he took out critical illness insurance through A Mortgage Now whilst purchasing a new home in the summer of 2009. Four years later in 2013 Richard was diagnosed with Testicular Cancer and received a cash lump sum from his insurance of £420,000.
Richard has received treatment and is progressing well having had his yearly check up last week.

We asked Richard about his experience of critical illness insurance.

Why did you take out critical illness insurance?

‘Because of the size of the mortgage debt I was taking on.’

Did you ever expect to make a claim?

‘Not in a million years.’

What was your diagnosis?

‘Testicular cancer.’

Once you had been diagnosed – how long was it before it occurred to you that you may be able to make a claim?

‘It occurred to me a week later and so I checked my documentation’

How long was it from your diagnosis until payment of your claim?

‘Six weeks.’

What is your view on the insurers response to and the handling of your claim?

‘My insurers were very professional – they requested details of my Oncologist and
Surgeon, but did not delve into a lot of my medical detail or need to involve me in the process.’

How is your health currently?

‘I had my yearly check up last week and was fine.’

How much difference have the funds made to your life?

‘We paid off quite a bit of the mortgage and were able to keep some funds aside to cover things if anything else happens.’

What would you say to others who are hesitant about taking critical illness cover?

‘Although it may appear expensive, it is the difference in being able to recover by reducing financial stress.’

Sandie’s story – diagnosed with Multiple Sclerosis at age 36

Sandie is a GP.
A busy working mother she took out critical illness insurance through A Mortgage Now whilst purchasing a new home in the spring of 2009.
In 2013 Sandie was diagnosed with Multiple Sclerosis and received a cash lump sum of £340,000 from her critical illness insurance.
Sandie is now managing her symptoms.

We asked Sandie about his experience of critical illness insurance.

Why did you take out critical illness insurance?

‘I thought it would be sensible – having kids made it more important.’

Did you ever expect to make a claim?

‘Absolutely not – I nearly cancelled the cover the year before the claim.’

What was your diagnosis?

‘Multiple Sclerosis.’

How long was it from diagnosis to payment of your claim?

’10 months’

Your view on the insurers response to and handling of your claim?

‘Fine – no problems.’

How is your health currently?

‘I am dealing with my condition.’

How much difference have the funds made to your life?

‘A big difference, I have paid off the mortgage, cut back on work – I could stop work if I wanted to.’

What would you say to others who are hesitant about taking critical illness cover?

‘Take it – it is definitely worth it – but be really sure that you disclose everything requested on the application.’

 

Are you insured against critical illness?

If, having heard Sandie and Richard’s stories, you would like to discuss your own critical illness or life insurance insurance arrangements with one of our team, please call us on 020 8979 9684

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