Cavendish / Legal & General

MACDONALDO67

OK thought I would update my life insurance policies, make sure we are covered and I applied for cover via this website through the link on Cavendish.

Legal and General came up with the best offer, 23 years, £133,000 cover.

I applied for this for which I had to pay £35 to Cavendish.


After all the weeks waiting the insurance has come back declined for my wife and an increased premium for me.

Originally the quote was £19.94 for my wife and I.

The new quote is for £19.70 for me only. My wife failed apparently due to her medical details ?????? Yes it stumped us as well.

Now this I am not happy with because cover for one person defeats the object and I don't really wish to pursue the application now. However, I have paid this £35 fee to Cavendish which now doesn't seem to be refundable.

Just a word of warning for anyone using the links and paying that one off £35 fee. You might not get the insurance you want. :mad:

So now I'm in a dilema to call it a bad day and put it down to experience or go ahead with the policy being the main bread winner.

Certainly won't be doing it this way again.

OshayAway

MACDONALDO67 wrote: »

OK thought I would update my life insurance policies, make sure we are covered and I applied for cover via this website through the link on Cavendish.

Legal and General came up with the best offer, 23 years, £133,000 cover.

I applied for this for which I had to pay £35 to Cavendish.


After all the weeks waiting the insurance has come back declined for my wife and an increased premium for me.

Originally the quote was £19.94 for my wife and I.

The new quote is for £19.70 for me only. My wife failed apparently due to her medical details ?????? Yes it stumped us as well.

Now this I am not happy with because cover for one person defeats the object and I don't really wish to pursue the application now. However, I have paid this £35 fee to Cavendish which now doesn't seem to be refundable.

Just a word of warning for anyone using the links and paying that one off £35 fee. You might not get the insurance you want. :mad:

So now I'm in a dilema to call it a bad day and put it down to experience or go ahead with the policy being the main bread winner.

Certainly won't be doing it this way again.

Two things to bear in mind. One, you chose the DIY route, had you used an adviser, you could find out the reason for the decline for your wife's part of the policy and rated premium for yours.
Also, because you chose a fee based service, the £35 is designed to cover the costs of processing your application. If that £35 was refunded, Cavendish would be out of pocket due to your health (or whatever the reasons are for the decision). Obviously this would be better for you but would you consider that to be fairer?

MACDONALDO67

OshayAway wrote: »

Two things to bear in mind. One, you chose the DIY route, had you used an adviser, you could find out the reason for the decline for your wife's part of the policy and rated premium for yours.
Also, because you chose a fee based service, the £35 is designed to cover the costs of processing your application. If that £35 was refunded, Cavendish would be out of pocket due to your health (or whatever the reasons are for the decision). Obviously this would be better for you but would you consider that to be fairer?

Thanks for the reply. I'm actually kicking myself.

I had the option of not fee based and had I taken that then it would not have mattered.

It's just the thought that I have paid £35 for not what I wanted.

Live and learn eh?

OshayAway

MACDONALDO67 wrote: »

Thanks for the reply. I'm actually kicking myself.

I had the option of not fee based and had I taken that then it would not have mattered.

It's just the thought that I have paid £35 for not what I wanted.

Live and learn eh?

Very true.

I'm sure the commission option was a higher premium so it was a bit of a gamble which could have saved you much more than £35 I suspect.

Personally I am not a fan of this route simply because in all bar a tiny number of instances, much better value can be found via a competent broker.

Non-standard cases like this is a prime example. Insurers do vary considerably as to how they assess risk and the resulting decision. A broker / adviser worth their salt could do the research before putting an application in thus saving you money. Or, in the case of your wife, may be able to find cover where she has been declined elsewhere, depending on the reasons.

yelf

If you used an IFA they could find out why she was declined and go to a specialist life insurer to see if cover was obtainable.

ChrisYoung

That is one of the downsides of using a site like that. If you have health conditions it's not normally a good idea to go it alone. A broker could have called the underwriters at various insurers to check their initial stance before the application stage. Also, never go by online quotes if you've got health conditions, they are completely meaningless. Some insurers may impose a rating, others a higher rating and others no rating at all! Some insurers are better than others with ratings/exclusions.

OshayAway

yelf wrote: »

If you used an IFA they could find out why she was declined and go to a specialist life insurer to see if cover was obtainable.

ChrisYoung wrote: »

That is one of the downsides of using a site like that. If you have health conditions it's not normally a good idea to go it alone. A broker could have called the underwriters at various insurers to check their initial stance before the application stage. Also, never go by online quotes if you've got health conditions, they are completely meaningless. Some insurers may impose a rating, others a higher rating and others no rating at all! Some insurers are better than others with ratings/exclusions.

Isn't that what I said?

Wutang_2

OshayAway wrote: »

Isn't that what I said?

Another option would be to use an IFA who could do all the work for you...

marc1

After all the weeks waiting the insurance has come back

this is sightly OT but can someone tell me is this typical with life ins. or with Cavendish? I will be taknig out life ins. soon and would prefer not to wait ages.

thanks


marc1

dunstonh

this is sightly OT but can someone tell me is this typical with life ins. or with Cavendish? I will be taknig out life ins. soon and would prefer not to wait ages.

Depends on your health. If you are of clean health (i.e. none of the health questions are answered with issues) then you usually get an immediate decision. If you have health issues then the providers will decide how to view it. Each has its own systems and opinions on what they will accept and how they price it.

OshayAway

Wutang wrote: »

Another option would be to use an IFA who could do all the work for you...

lol, don't you start!