Our client's situation
Our client had been diagnosed with Multiple Sclerosis (MS) and already had life insurance in place. When the policy was originally arranged, their medical history resulted in a significant premium loading being applied by the insurer.
As part of a routine review, the client wanted to understand whether their existing cover remained the most suitable option for their circumstances and whether there were any alternatives available in the market.
Our solution
Rather than assuming the existing policy remained the most appropriate solution, our protection adviser carried out a full review of the client's arrangements and approached a number of insurers to understand how they would assess the client's health and circumstances today.
Medical underwriting can vary considerably between insurers and is often influenced by factors such as an individual's diagnosis, symptoms, treatment and overall health. What may result in one outcome with one insurer can lead to a very different decision elsewhere.
Following a series of pre-sales enquiries and a formal application, in this client's circumstances, an alternative insurer was identified that was willing to offer the same level of life insurance cover on more favourable terms than the client's existing policy.
The client was delighted with the outcome, securing the same level of protection at a lower premium than their existing cover.
This case highlights the importance of reviewing protection arrangements regularly. What may have been the most suitable option when cover was first arranged may not necessarily remain the most appropriate solution years later.
It also demonstrates the value of seeking expert advice. Navigating the different underwriting approaches used by insurers can be complex, particularly where health conditions are involved. An experienced protection adviser can help identify which insurers may be best suited to your circumstances and navigate the complexities of different underwriting approaches, potentially saving time and helping you make more informed decisions about your protection options.
If you'd like to understand what protection might look like for you and your family, booking an appointment to speak to a protection adviser can help. If you'd prefer to speak to someone directly, you can call us on 08000 38 37 36.
This is for information only. Cover, premiums and eligibility depend on your personal circumstances and insurer terms. Policies are subject to underwriting and exclusions. We'll explain these before you decide to proceed.
