Income Protection underwriting questions

mswannabe_2

Hi

Around 6 weeks ago I made the decision to replace my Accident and Sickness policy with Income Protection Insurance instead. I contacted an IFA who asked many questions over the telephone and then submitted my application online. However, when the insurance provider sent forms for me to sign, I noticed that my previous episodes of anxiety and depression hadn't been disclosed. I contacted my G.P to establish dates of when I was suffering from these conditions and duly notified my new insurance provider of this additional information. A few weeks later, I received a phone call from a nurse acting on their behalf who asked more in depth questions which I answered honestly. I received a letter to say that my application had been sent to their underwriting department but I have heard nothing since.
My question is this. How long does it usually take for underwriters to make a decision? Are my premiums likely to go up substantially as a result of my disclosures? Has anyone ever been refused this type of insurance because of anxiety and depression?
May be worth mentioning that this condition was brought on in 1998 due to post natal depression. I have been diagnosed with anxiety/depression on 5 occasions from 2001-2007 but have been fully recovered since Oct 2007. Any help or advice greatly appreciated:D

GUW

It's likely that in addition to the TeleInterview (the call from the nurse), the insurance co has requested reports from your GP.

If so, this can hold things up, you're really at the mercy of how busy your GP practice is.

Along with back related claims, anxiety/depression is one of the biggest causes of claims on Income Protection so I'd expect that at best you will have an exclusion applied, meaning that no claim would be considered in the event of you being unable to work due to anything related to mental health.

Hope this helps.

judy_1

If They Can Get Out Of Paying You They Will Believe Me I Currently Hav E A Claim In On A Crittical Illness Policy That I Have Been Paying For 6 Years I Then Suffered A Stroke The Insurance Comapany Are Really Trying To Get Out O Fpaying Out On My Policy

dunstonh

judy_1 wrote: »

If They Can Get Out Of Paying You They Will Believe Me I Currently Hav E A Claim In On A Crittical Illness Policy That I Have Been Paying For 6 Years I Then Suffered A Stroke The Insurance Comapany Are Really Trying To Get Out O Fpaying Out On My Policy

There is absolutely no evidence of that based on your other posts. It seems that there is some doubts to what you actually suffered and are still in the process of getting that clarified.

Like any insurance, if an event happens you are not covered for then you should not expect to be paid out.

mswannabe_2

judy_1 wrote: »

If They Can Get Out Of Paying You They Will Believe Me I Currently Hav E A Claim In On A Crittical Illness Policy That I Have Been Paying For 6 Years I Then Suffered A Stroke The Insurance Comapany Are Really Trying To Get Out O Fpaying Out On My Policy

Sorry to hear of your problems and hope it gets sorted for you soon;) . The policy I'm looking at is guaranteed and underwritten at the start hence so many questions and disclosures regarding previous health problems. I don't know whether you have a similar policy or perhaps bought it from an online source?

dunstonh

Judy has only recently made the claim and the specialist that needs to answer the questions as away until March. She is blaming the insurance company at this time but they are basically stuck until the specialist confirms the medical diagnosis to them.

She really needs an IFA to help her out as she is jumping to all sorts of conclusions when she really needs the process explained and someone chasing and keeping her up-to-date.