PHI with pre-existing condition

InsideInsurance

Looking to get PHI cover set up but have a congenital condition (always been stable, annual checkups only, never a day off work for it, basically the same medication since the age of 3 only changing due to height/weight) and so far everyone approached has flat declined. The IFA dealing with it is stumped and doesnt know who else to approach nor understands the reason for the declines.

Anyone got any suggestions for PHI providers who are less worried about pre-existings?

OshayAway

InsideInsurance wrote: »

Looking to get PHI cover set up but have a congenital condition (always been stable, annual checkups only, never a day off work for it, basically the same medication since the age of 3 only changing due to height/weight) and so far everyone approached has flat declined. The IFA dealing with it is stumped and doesnt know who else to approach nor understands the reason for the declines.

Anyone got any suggestions for PHI providers who are less worried about pre-existings?

It depends on what it is but insurers' view on certain risks vary and they do move the goal posts from time to time.

Can you list the providers that have declined? Did they write to your GP or didn't it get that far. Some insurers will put more weight on your GP / consultant's opinion than others. However, when they ask the question, sometimes the answer is not forthcoming - for example when they just send a copy of your notes - so it can be worth having a read of the completed report at your surgery. TBH, this is all stuff your IFA should be telling you, did they not research the underwriters prior to application?

Would you be happy if an insurer excluded anything relating to your condition?

InsideInsurance

Yes they did discuss with u/ws first.

"Most" said no straight off, it was Bright Grey and, from memory, Friends Provident (or whoever it is that owns BUPA these days) who said they'd look at it. Both asked for GP reports and medicals - medicals passed with flying colours according to the nurse who did it.

Irritatingly BUPA are our PHI providers and they do include cover for the pre-existing & the insurer have accepted to quote for Relevant Life Assurance too, just PHI they wont.

I would need to understand the exclusion, my condition is somewhat similar to diabetes in that a lot of things COULD be put down to it or the medication to treat it.

ACG

Is it like hypoglacemia?

I used to work for friends prov, i got made redundant after they merged with Bupa and part of Axa. To be honest ive found bright grey and the new friends life to be quite good.

LV have in the past been quite lenient with certain conditions as can L&G again under certain circumstances..

Its hard to say without knowing a little more. If you have an IFA, they should be emailing all of the relevant info over to the isurers for them to come back to you.

Are you looking for full cover with a rating or standard rates with an exclusion? There may be non standard insurers who would be willing to look at your application but again, without the relevant info its hard to say.

InsideInsurance

Hypoglacemia is really a symptom rather than a condition - but no, my condition doesnt result in hypoglacemia.

The IFA has sent the info over hence most of their regular book saying no straight off and 2 saying maybe subject to underwriting. The IFA says they will speak to their colleagues to see if there is any insurers they deal with less often that may be willing to look at it but was hoping to draw on the collective experience here.

Bright Grey original said they'd look at it on standard terms but then said no. Friends said it would be rated but then said no. IFA is trying to get the underlying reason from them as at the moment its just been an email from their development manager.

OshayAway

InsideInsurance wrote: »

Hypoglacemia is really a symptom rather than a condition - but no, my condition doesnt result in hypoglacemia.

The IFA has sent the info over hence most of their regular book saying no straight off and 2 saying maybe subject to underwriting. The IFA says they will speak to their colleagues to see if there is any insurers they deal with less often that may be willing to look at it but was hoping to draw on the collective experience here.

Bright Grey original said they'd look at it on standard terms but then said no. Friends said it would be rated but then said no. IFA is trying to get the underlying reason from them as at the moment its just been an email from their development manager.

It's unlikely that the insurer will discuss anything with the IFA about their decision due to confidentiality. You can request a 'reasons why' letter that will be provided to you or your GP depending on the content.

You can then give that information to your IFA who can go back to the pre-application indication of terms to discuss quoting the ref they were given at the time. They will then be able to explain why they were unable to adhere to the initial indication. In some cases this second look can prompt a re-appraisal of the case or additional information / evidence with a view of improving on the decision.

At worst, it will enable you to provide more detailed information to approach to other PHI providers.

As a last resort you could look at moratorium based cover that will have blanket exclusions for anything related to pre-existing conditions.

OshayAway

I should have added, I would want a list of the insurers already approached and find a whole of market broker to approach those who haven't been already.

It would be useful to have a bit more information but I understand any reluctance to post such on a public forum. Is there an element of control as with diabetes?