Refused Life Assurance- where next?

teamscottbarnes

Hi, need a little help. We moved in August and extended our mortgage. We had life assurance to cover the mortgage on our old house but have tried to get a new policy to cover the extra money we now have. I applied through More Than which use L&G as there underwriters i think. We don't smoke, are still in our twenties, are healthy, don't partake in any dangerous sports- basically we're very boring. However my husbands father died from a cardiac problem at the age of 55 and as such we have been refused joint cover. They have offered me a single policy which is fine but what do i do about my husbands cover. Are there any companies which would insure us- please help, we have 3 young children and don't want to leave them unprotected.

Here's hoping i get some good advice
FB

Debt_Free_Chick

Have they given a reason for refusal?

Have you asked your existing insurer if they will extend the current policy?

the-chauffeur_2

The simple answer is probably, although you may find that the insurer(s) who offer terms apply special rates or exclusions to the policy.

As with DFC's reply, it might be worth approaching your existing insurer and asking if you can extend/alter your existing policy. Best bet is to talk to an independent financial advisor with knowledge of the insurance market - don't rely on internet applications or high street banks. Look in your yellow pages for local folks, or ask the Citizens Advice Bureau if they can recommend someone to you.

Hope that helps.

medders2604

Its def worth asking the insurance company the reason but don't be surprised if they refuse to tell you and will only send a letter to your hubbies GP, it's nothing to panic about its simply that if they got a report from the GP and its to do with anything on there they can only send it to the Dr who will then be able to explain it to you.
If they didn't get a GP report then it may be worth an appeal depending on what the cardiac condition was.

medders2604

Also once its confirmed it is related to the cardiac family history its worth riniging companies before you apply and exlaining, their underwriters should be able to give you an idea of whtrher they would offer or if it would be another straight refusal.

teamscottbarnes

Hi, thanks for your replies. When we had our letter of refusal it said they wouldn't give us life assurance due to my husbands medical history. I definately know that they wrote to our GP as we had a letter from our GP saying that he had been asked to give them information and also suggested that my husband should go to the docs with his dads death certificate so they could discuss if any exploratory tests should be done. As far as we know my husband is in good health and certainly hasn't had any episodes that should worry us.

Regarding my current life assurance for our old mortgage- that too is with L&G so have been holding off talking to them incase they invalidate our existing assurance. We took the policy out prior to my husbands father dying.

Would you still recommend talking with L&G?

Thankyou
FB

turkolina

Ok... Firstly it seems strange that they noted it was your husbands medical history.. It makes me wonder if there is actually nothing wrong with him has a mistake been made by his doctor as they would state family history if it was to do with his father.

I would persue this and find out clear and concise information which they are obliged to give you or your husband's GP.

Secondly if the above fails and is correct is your other policy a joint policy? When was it taken out and was it taken out at normal rates? Look if the reason they refused this new policy would have any implications on the current live policy.. If so, your old policy will be void. If not, and the policy was taken out at original rates, its possible you can increase the cover under the Guaranteed Insurability Option. To find out if you are eligible contact L & G.

If you have anymore questions just let me know.

turksx

dunstonh

Get your adviser involved. I cannot count the number of times I have had to intervene in the underwriting process to get things corrected or moved forward to a more acceptable outcome. Whilst advisers are not told the specifics in the case, enough info is made available to know what the reasons are. Once you know the exact reasons you can then move forward. Refusal on the basis of what has happened to a parent is very unusual and as turkolina says it indicates a possible mistake.

Or perhaps there is information that you are not aware of. That also, i'm afraid, is fairly common as well.

teamscottbarnes

I have just rung Legal and General. They have said that they have actually postponed making a decision for 12 months. They couldn't give me exact details but confirmed that if my husband had some tests (based on his fathers cardiac problems) and all came back normal then they wouldn't have a problem in offering the life assurance. Is this normal behaviour?

Would you recommend i look at other companies anyway?
FB

teamscottbarnes

Oh and also they confirmed that the other policy i have with them is still fine as it was taken out prior to his death. However i couldn't change it in order to increase the amount it would pay out.