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catmag

Virgin Cancer Cover.

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Sorry to get all serious for a minute but I've just seen an advert for insurance cover specifically for a cancer diagnosis, being offered by Mr Branson and his cronies. I'm trying to understand why it made me feel as uncomfortable as it did and I'm not sure I've worked it out yet, but I find it a bit distasteful that companies are playing on this specific fear in order to get people to take out policies.

 

Whilst cancer is becoming increasingly more common, what is going to be next from the money-grabbers? Individual policies for heart-attack cover, strokes, brain haemmorhages, kidney failure etc? It also points out on the advert that the policy does not cover early-detected cervical cancer or non-melanoma skin cancer. So just the advanced cancers then? And can you cash them in at diagnosis or just once you know you're actually going to snuff it? Whilst understanding the reality and security of having a life insurance policy I just find this all a bit uncomfortable. Do they think they can get business from the families of people who have passed away through cancer because these people may feel that they are of a higher-risk?

 

Anyway, just my thoughts....

Edited by catmag

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Having lost my Mam to cancer and had to go through all the shit that's accompanied with it, I think it's actually a disgrace that insurance companies will play on people's insecurities...

 

Anyone who takes a mortgage will take out life insurance for death and critical illness cover (if they've any sense) and as cancer is considered a 'critical illness', why the need to take out an additional policy.

 

Even non-home owners tend to take out life insurance policies to cover all that shit anyway...

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I've just found this..

 

Virgin is using what it describes as ‘a severity-based approach to cover.’ The policy covers both men and women and features staged payments. The staged payments allow a quicker payout of cash upon diagnosis of cancer. At stage one, early cancer, the policy pays out 10% of the sum assured on diagnosis. When the patient has intermediate cancer, the policy pays out 25% of the sum assured, minus the early cancer payment of 10% if that has been claimed. On diagnosis of advanced cancer the policy pays out the balance.

 

What. The. Fuck?

 

"So Mr Jones, this is how it works. You can have a little bit of your money once we find out it's definitely cancer, a bit more once it's making you quite sick, the docs tell you it's touch and go and your hair starts to fall out, and then you can have the whoooooole jackpot once we get a letter telling us you're going to be 6-feet under in less than 6 months!! Huzzah!"

Edited by catmag

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I've just found this..

 

Virgin is using what it describes as ‘a severity-based approach to cover.’ The policy covers both men and women and features staged payments. The staged payments allow a quicker payout of cash upon diagnosis of cancer. At stage one, early cancer, the policy pays out 10% of the sum assured on diagnosis. When the patient has intermediate cancer, the policy pays out 25% of the sum assured, minus the early cancer payment of 10% if that has been claimed. On diagnosis of advanced cancer the policy pays out the balance.

 

What. The. Fuck?

 

"So Mr Jones, this is how it works. You can have a little bit of your money once we find out it's definitely cancer, a bit more once it's making you

quite sick, the docs tell you it's touch and go, and your hair starts to fall out, and then you can have the whoooooole jackpot once we get a letter telling us you're going to be 6-feet under in less than 6 months!! Huzzah!"

82130[/snapback]

 

well thats not exactly great like is it? you can imagine some twat from Virgin wanting to come to the doctors with you and actually see you going through Chemo. :lol:

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You can just see it can't you? Some plastic fucking sales rep with his clip-board asking "does it hurt yet?" :lol:

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Good article on it from the Telegraph here.

 

I was going to start a thread on this myself - I find this really distasteful and as the article points out it is not even good value for money. It doesn't help that it is being so heavily promoted on TV and there are bill boards everywhere (3 outside SJP).

 

Personally I think critical illness cover is a rip off if you have a supportive job. It would cost me a significant amount of money to get it and there are stacks of get-out clauses. If I get a fatal illness, my wife will get the mortgage paid when I pop my clogs but not before!

 

Those employment protection schemes are even worse - most don't pay out until you'll probably have another job anyway.

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Aye, I thought the whole cartoon character 'V' chinning the cartoon character 'C' was a bit off as well. Let's treat the whole thing as a big joke eh? My mam's been in remission for 3 months now and I can't say me or any of my siblings found it funny when we first saw it.

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Having lost my Mam to cancer and had to go through all the shit that's accompanied with it, I think it's actually a disgrace that insurance companies will play on people's insecurities...

 

Anyone who takes a mortgage will take out life insurance for death and critical illness cover (if they've any sense) and as cancer is considered a 'critical illness', why the need to take out an additional policy.

 

Even non-home owners tend to take out life insurance policies to cover all that shit anyway...

82128[/snapback]

 

:lol: Got our mortgage without critical illness insurance tbh!

 

The difference in price between that and just life cover was pretty big as i recall, and we were already getting a huge mortgage so something had to give.

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Having lost my Mam to cancer and had to go through all the shit that's accompanied with it, I think it's actually a disgrace that insurance companies will play on people's insecurities...

 

Anyone who takes a mortgage will take out life insurance for death and critical illness cover (if they've any sense) and as cancer is considered a 'critical illness', why the need to take out an additional policy.

 

Even non-home owners tend to take out life insurance policies to cover all that shit anyway...

82128[/snapback]

 

:lol: Got our mortgage without critical illness insurance tbh!

 

The difference in price between that and just life cover was pretty big as i recall, and we were already getting a huge mortgage so something had to give.

82200[/snapback]

 

If you're young and healthy you're wasting your money on it imo, so I think you did the right thing - it might cost you over 20K over 25 years. Forget about it if you're a smoker too.

 

Anyway, I think you can tell it's a rip off when the advisor gives you the hard sell.

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the missus got a call from someone last night offering the same thing. They've actually called her every night this week but shes been out. They started off with "this isnt the nicest conversation to have but have you thought about cancer". American Lifestyle(?) they were called. Fucking parasites.

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