'Waiver of premium benefit' offered to hubby but not me..

watersign76

Hello

We are in the middle of moving. We have taken the opp to revisit life assurance and critical illness cover.

Having had the medical etc, we have their decision back. Husband is covered as agreed. My premium is a little more (than IFA's quote was), but I have smoked in the past and weigh more than I should, so I understand that.

However, they have agreed to offer 'waiver of premium benefit' (which I understand is their agreement to pay the premium for a short & defined period if you cannot due to due to sickness accident or disability)to my husband, but not me.

I know it is their business who and what cover they offer, but I do wonder on what basis they have made this decision...

In the scheme of things it is a small point (if I was dying/seriously ill not sure I'll be worrying about the £30 a month x 6 or whatever) but it does feel like discrimination....?

Watersign76

starrystarry

Have you asked the insurance company why they've declined this benefit? Have they not said in their paperwork why they declined it? It might be to do with your height/weight ratio. Or the smoking situation. You said the premium went up because you've smoked in the past. You've smoked int he last year? Was your original quote done on smoker rates?

Easiest thing to do would be to ring the insurance company and ask them to explain.

dunstonh

I know it is their business who and what cover they offer, but I do wonder on what basis they have made this decision...

We can only guess based on the information you have given. The life assurer will know. The IFA may know a little although data protection means they do not get access to the medical information behind the decision.

Waiver is a form of income protection and is influenced more by medical information that is likely to see you suffer an inability to work. Weight is something that would influence it.

but it does feel like discrimination....?

It is discrimination. However, its legal discrimination and its the only way it can work. They price and offer terms based on your details. So, if there is something wrong with you and you are a higher risk then you will either pay more for it or they will not offer cover where they feel the risks are too great.

I know it seems personal, but how much overweight are you? Smoking and being overweight won't help either. These could easily influence a decision not to offer waiver.

OshayAway

High BMI can be a reason for WOP decline, other common reasons are anxiety, stress etc, problems with joints or anything in recent that has or may result in you being signed off work. The adviser won't know any more than you do about why the wop was not offered. However, you can request a letter detailing the specific reasons why which will be sent directly to you or your GP depending on the insurer and reasons.