Accelerated Serious Illness cover with loading-worth it??

[march_hare]

Husband and I were quoted a premium 43% more than the standard rates (aged 30 & 29, n/s, healthy etc. ) for an accelerated serious illness cover of 100k. Some non-hereditary health issues with parents (type 2 diabetes on one side and breast cancer at <50 years on the other - all living) is the reason according to the financial advisor. Nothing ourselves.
My question is with an annual indexation of 8% on the premium and 5% on the insured amount, is this money well spent?
Is it wiser to put into pension or other life product?? We have no dependents (yet).
Only other cover is mortgage protection decreasing cover.
Any advice is appreciated

 

[mula]

Husband and I were quoted a premium 43% more than the standard rates (aged 30 & 29, n/s, healthy etc. ) for an accelerated serious illness cover of 100k. Some non-hereditary health issues with parents (type 2 diabetes on one side and breast cancer at <50 years on the other - all living) is the reason according to the financial advisor. Nothing ourselves.
My question is with an annual indexation of 8% on the premium and 5% on the insured amount, is this money well spent?
Is it wiser to put into pension or other life product?? We have no dependents (yet).
Only other cover is mortgage protection decreasing cover.
Any advice is appreciated

hi march

i would apply for income protection over ACI as this will cover up to 75% of your income rather then paying out a once off lump sum plus you get tax relief on income protection unlike ACI

 

[march_hare]

I think my employer already provides me with PHI up to 66.6% of basic salary up to retirement if incapacitated for a certain number of weeks, so maybe the additional serious illness cover really isn't worth it.....at least while in this job