Life Insurance Postponement

severnaya

Legal & General recently (June 2010) postponed offering me life cover for six months due to an ongoing medical consition which has now disappeared. I withdrew my application.

I would now like to apply for long term income protection insurance with another company, but I would like to know if they how they are likely to view my declaration that I have had life insurance postponed recently. Should I wait until the six months are up before applying?

I don't want to be rejected or postponed again because I suspect that the more poostponements or rejections I declare makes getting insurance more difficult.

Any Advice?

dunstonh

I would now like to apply for long term income protection insurance with another company, but I would like to know if they how they are likely to view my declaration that I have had life insurance postponed recently.

Only L&G will have access to the same information. However, assuming you mean full income protection (PHI) and not payment protection (PPI) then you will almost certainly have to declare that you have had an application for insurance postponed due to an ongoing medical condition. Although that shouldnt really be an issue as you are going to have to declare that health issue anyway.

Should I wait until the six months are up before applying?

I dont see why.

I don't want to be rejected or postponed again because I suspect that the more poostponements or rejections I declare makes getting insurance more difficult.

They can. You could get your IFA to check with the underwriting teams to see how they would handle your case. These don't count towards a refusal.

OshayAway

As Dunstonh states you will still need to disclose the postponement, regardless when you apply, on every future application. Although some (not many) do not have a question about previous decisions. Depending on what the condition was, it may still have an impact on future applications depending on what the condition was, when you had symptoms, how long for and the severity, even if you are fully recovered. Also bear in mind that PHI underwriting is far more stringent than life cover.
In view of the foregoing, you may well benefit from a whole of market adviser who is willing to do some researh for you pre-application.