Applied for Life Insurance - They are doing Home Medical

riverboat2001

OshayAway wrote: »

I take it this was a non-advised broker then or one who has not done the research or has a limited panel of providers they have access to.

Aviva are not know for being especially preferable for BMI or financial limits. If your BMI is confirmed as accurate, your premium will more than double with Aviva. That's on the assumption that nothing else crops up as a result of the medical like high cholesterol, blood pressure, sugar in urine etc. A couple of pounds more and you can expect a rating which will take your premium to approx three times the one quoted.

A whole of market broker who took the time to research underwriting would not be putting in an application to Aviva. That is unless there are other issues not mentioned here.

Well the mortgage broker quoted me for insurance that was £127pm for both my partner and I. He's 52, smoker (well stopped for 5 months now) and about 14stone and 5ft8.
They were also getting a commission of over £2600, which i thought was excessive. The quote they gave us was from Aviva.

I thought that was quite high so i decided to shop around to see whether i could get the same cover cheaper.

Working on the assumption that life cover is just what it says on the tin, you're either going to die within the term or not! I decided to go with an execution broker only. But Aviva still came back as the cheapest.

OshayAway

riverboat2001 wrote: »

Well the mortgage broker quoted me for insurance that was £127pm for both my partner and I. He's 52, smoker (well stopped for 5 months now) and about 14stone and 5ft8.
They were also getting a commission of over £2600, which i thought was excessive. The quote they gave us was from Aviva.

I thought that was quite high so i decided to shop around to see whether i could get the same cover cheaper.

Working on the assumption that life cover is just what it says on the tin, you're either going to die within the term or not! I decided to go with an execution broker only. But Aviva still came back as the cheapest.

Totally understandable and I'm sure a situation which frequently occurs.

The point here, as with any case which will attract non-standard terms on underwriting, is that the cheapest quote does not necessarily result in the cheapest cover. Insurance plans vary as do the views / results of their underwriting.

So in this case, applying for the cheapest quote (which assumes you do not pose what the insurer considers to be a higher risk) may not end up as cheap as applying to a more expensive quote where the loading is less. That is where the research pays off.

Can you find out this information on your own? No. Will a broker do this without earning some money out of it? No, it can be... in fact it should be, if done correctly, quite time consuming.

The advantage to you is a cheaper premium (and/or better terms in the case of critical illness cover) once the policy has been underwritten.
Given that your husband is still classed as a smoker, as he only gave up 5 months ago, almost all insurers would require you to re apply once he was 12months clear of tobacco use and NRPs. A good broker who knows his/her stuff could direct you to a provider that could simply apply non-smoker rates from a signed declaration. This can be preferable as it protects against the event that something else develops in the mean time that would then effect the terms offered on re-application.

Annisele

riverboat2001 wrote: »

no idea of bmi - but not going to be good with the numbers below!
About 18stone, 5ft6 45 yo female, non smoker, gave up about 7 years ago.

I make your BMI around 40 with those figures (as does Aviva; it has a calculator here).

Unfortunately I think that that figure means that all insurers are likely to apply some sort of medical loading. The prices the comparison sites give assume no medical loading - because they can't guess how an underwriter will view you - so those sites won't help.

As OshayAway says, yours is a case where you could benefit from involving a broker.

riverboat2001

Well, the Nurse doing the medical sent me a text about 3 hours before she was due to arrive to say she was too ill to make it!
So i will have to wait for her to re-arrange the meetin and report back.

Might be helpful to others to know the difference between quoted price and medically loaded price....especially given how many people in our society are overweight!