December 5th, 2016
Am I Insurable? This is a question I have heard from many clients over the last 10 years of working in the insurance industry. For many people obtaining insurance can be difficult, this could be due to past or present medical conditions or lifestyle choices. Insurers base your acceptance for cover on your ‘risk profile’, which for many insurers is a very black and white approach which does not always work well when dealing with such an emotive subject.
It is a regular occurrence that we speak to clients who have either been declined cover or been accepted on special terms (increased premiums or exclusions normally). Due to the wealth of experience in the protection team we have been able to help many clients obtain insurance options, who thought it was not possible.
This year some notable examples of ill health that we have been able to overcome include the following: Testicular cancer, Carcinoma in situ of the breast, Crones Disease, Diabetes, Ulcerative Colitis and BMI issues.
BMI issues is typically one of the most common health issues and a major factor in determining the cost of an insurance plan that the team come across. Unfortunately, Insurers are probably about a decade behind with what the average BMI is in the UK. They all have different stances on it and all price differently, this is something that we understand and the internet comparison websites don’t tell you.
Lifestyle choices can also have an impact on insurance options. This can include hobbies and dangerous activities also countries that you have visited for holiday purposes or work. During 2016 we have been able to successfully help clients who participate in Flying, Motor Sports, Rock Climbing, Diving, and Sailing. We also speak to many clients who work overseas for contracts in countries which insurers feel are uninsurable likes parts of Africa.
The value of using an insurance broker is self-explanatory really. At Contractor Mortgages Made Easy we offer a completely free of charge service and can tailor recommendations to your own personal situation whilst including your health position and any lifestyle choices you have made.
Article by: Simon James, Associate Director at Contractor Mortgages Made Easy
Media Contact: Sarah Middleton, Public Relations Manager
Tel: 01489 555 080