Turned down for life and early critical illness insurance!

Precious_Thing

Hi, I'm new to all this!
I am considering trying to buy my council flat and have a mortgage approved. I applied for life assurance and early critical illness insurance through an IFA via AXA, and have been completely turned down for everything on health grounds.

My question, is it worth applying to another company, or does being turned down by AXA mean I won't get cover anywhere else either?

I have long term health issues, greatly improved, but still affecting me. I manage to work full time and thought I would at least get some life cover. I am married but it would only be my name on the mortgage as my husband is not an EU citizen. I'm concerned if I die, he'll not get the flat.

Thanks a lot.

Precious.

BenL

Have you tried the bank/BS for life cover that yo uare getting the mortgage with??

My girlfriend was turned down to Norwich Union for life cover on our policy but Nationwide (our mortgage company) would cover her.

Maybe worth a try.

Ben

dunstonh

You have used an IFA. Get them to place the business.

A decent IFA/whole of market protection advisor can phone round the insurance companies first and see if they will accept the business and if so, what terms/premium they would place on it.

I wouldnt agree with BenL at this stage as the cost of a bank product would be much higher than open market and a positive underwriting decision is more likely from the open market/IFA because of the choice available.

Get the IFA (or protection advisor as not many IFAs will do life protection sales with an IFA hat on) to do the search for you. If not, get another one to do it. Are you sure it was an IFA (with IFA hat on)? AXA have only come out best twice for me in the last 12 months.

for reference, life assurance does not come under IFA rules. It comes under General Insurance/Protection rules. This means an IFA can be independent on investment business but can choose to be tied or offer a limited range of products on life assurance. It could be that they only offer AXA, in which case, that advisor wont be much use to you.