Life Insurance

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kellyp
kellyp Member Posts: 8 ✭
edited March 2019 in Day to day

Has anyone had trouble getting life insurance approved after being diagnosed with BC?

I have been refused Income Protection and Trauma Insurance and what Death cover I can get (with exclusions) is very heavily loaded.

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  • Tanya
    Tanya Member Posts: 380
    edited March 2015
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    I think you will find that they will look at you agaiin after 10 years.  Or that is what most of the insurance companies claim, but I have found that YES they will consider you after 10 years that the premiums are that inflated it is not worth it.

    I have spoken about this with lots of BC ladies and we are yet to find a company that will cover us.

     

    Let us know if you have any success, I have given up trying to find a company to insurance me.

    Tanya

  • Tanya
    Tanya Member Posts: 380
    edited March 2015
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    I think you will find that they will look at you agaiin after 10 years.  Or that is what most of the insurance companies claim, but I have found that YES they will consider you after 10 years that the premiums are that inflated it is not worth it.

    I have spoken about this with lots of BC ladies and we are yet to find a company that will cover us.

     

    Let us know if you have any success, I have given up trying to find a company to insurance me.

    Tanya

  • kellyp
    kellyp Member Posts: 8 ✭
    edited March 2015
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    Hi Leonie,  Thanks for your comments; your situationsounds like the same as mine,We too have also  purchased an investment house, and when it came to loooking at the insurance we came up against the same brick wall. i have been told to wait for 1 year and then they may insure me, but with what you are telling me , the outlook doesnt look too great.

    thanks again, Kelly.

  • eviealison
    eviealison Member Posts: 33 ✭
    edited March 2015
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    Hi, 

    I've just spent the last couple of weeks trying to find insurance as well. It's a real pain in the neck. I was diagnosed in 2006 at 26. So, now being 31, I'm close to 5 years in the clear. 

    I have spoken to an insurance broker that my accountant has put me on to. I was lucky at the time of diagnosis that my superannuation included an income protection clause and also has life insurance included. Because that income protection only will cover two years per condition, I decided to get extra income protection.

    My insurance broker recommended that I take out accident cover through Comminsure (Commonwealth bank) and trauma insurance through Macquarie. My Comminsure was approved but Macquarie knocked me back even with us including a cancer exclusion clause. Apparently, when I hit five years in the clear Macquarie will insure me. 

    I'm not a financial advisor so please don't take my word as gospel, but I have found it really really really useful using the broker because he knows in the ins and outs of all the products available and what I'm looking for. 

    x evie

  • kellyp
    kellyp Member Posts: 8 ✭
    edited March 2015
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    Hi Evie

    thanks for your advice about using a broker,

    regards

    Kelly

  • kellyp
    kellyp Member Posts: 8 ✭
    edited March 2015
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    Thanks Kaz, I will look into Insurance Line.

    Kelly

  • kellyp
    kellyp Member Posts: 8 ✭
    edited March 2015
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    Thanks Leonie

    You are right there are more pleasant things to think about then insurance. Thanks to all for the advice

     Kelly

  • ladybool
    ladybool Member Posts: 8
    edited March 2015
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    So ladies,

     

    Virgin Life Insurance are the ONLY insurance company in Australia that covers cancer survivors!!!  I just took out insurance, they were really helpful and understanding...

  • Tanya
    Tanya Member Posts: 380
    edited March 2015
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    Thanks Ladybool for the update, I will be phoning them Monday morning.

    Xx
  • youngdogmum
    youngdogmum Member Posts: 250 ✭
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    Bumping an old thread. 
    I have life insurance of an appropriate amount through my super but am starting to think trauma insurance is a good idea in case the cancer ever returns. Or heavens forbid another illness spurs it’s ugly head.

    Anyone point me in the direction of a broker they’ve used to discuss my options? 
    Or had any recent success with any companies?
    If I could purchase an additional life insurance amount I would also probably jump on that bandwagon.


    On another note, I’ve tried telling all my young friends to get insurance sorted; I’m being met with a lot of that won’t happen to me - HA. I’m that prime example of cancer won’t happen this young. So grateful I decided to sort out my life insurance earlier just in case !!!!

    Thanks!!
  • kezmusc
    kezmusc Member Posts: 1,544 ✭
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    Nope, no luck here either.  I have some life cover with my super so I guess I am stuck working for QLD health for ever and ever.  @ladybool, I have not tried Virgin, I didn't even think about them actually so thank you I will now.
  • youngdogmum
    youngdogmum Member Posts: 250 ✭
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    @kezmusc is this with QSuper? That’s what I’ve got mine through. I was reading the PDS just after I got diagnosed and the way I interpreted it was, if I left Queensland health and went to another employer but kept super through rhem it would continue ??
    I could be wrong but might be worth both of us calling to clarify? 
  • kezmusc
    kezmusc Member Posts: 1,544 ✭
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    @youngdogmum . Yes, Qsuper.  Hmmmm, I will re read it.  Is it a new thing that you can transfer Qsuper???  It used to be only govt.  I am bad at reading things they send out.
  • youngdogmum
    youngdogmum Member Posts: 250 ✭
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    @kezmusc yep about 12 months ago they started letting non Govt employees use it! I know this because I signed my husband up with them as soon as I could.
    I can’t quite remember what the rules were when I worked for NSW health if you had to use a specific superfund, however if we can still keep our insurance and head elsewhere or work for someone else, well that for me is a huge quality of life changer! I don’t necessarily want to be stuck with qhealth or in SE Qld for the rest of my life! 
  • kezmusc
    kezmusc Member Posts: 1,544 ✭
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    Cool.  See I really should read those things.  Thank you.

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