I am adopted- life insurance?

jackyann

Mojisola wrote: »

Could rhubaan do that now that the information has been given to one insurance company? Do companies share information like this with other companies?

I really don't know. But as a nurse who has taken family medical histories over all my working life, I know that mistakes and misunderstandings are legion. In some families certain diseases were shameful, and so they would say they had something else.

If OP thinks that the information passed to them was unclear, I think they could honestly say "that was my understanding, I have since found out that no-one really knows" but I would would not want them to do that without seeking further advice.
I think I posted more for the information of other adopted children - unless you have been given clear, unequivocal information by someone who was in a position to know for certain, say "unknown".

OshayAway

rhubaan wrote: »

Hi thanks for responses_ Today went in with the limited knowledge I have to talk to repand will pay the price- average£28 per month for only 66K cover. My mum tod me that she had been advised by medic no genetic link/risk to me from cancer however advised today that premium is be 10 times what it should be if I didnt know my dads medical history.|Iam 18 years old and feel that if detailed medical queries were undertaken I woulnt be penalised. Ten times increase because my birth dad died young from cancer without any genetic causes or seems unfair. Concerned about when later on in my life if I need a lot of cover for mortgage and dependants. Is there any company who will look more detail at medical history.

Something's not right here.

The family medical questions are 'to the best of your knowledge' so it would need to be disclosed. However, it's rare to get a significant loading based on 1 family member with a history of cancer, even if diagnosed young. Some other conditions like MS or Polycystic Kidney Disease is a different story. Even if a loading was to be applied, 10 times does not tally. Premiums loadings / ratings are based on a percentage increase of the risk part of the premium. For example, a +100% loading is approx double. Most insurers' maximum loading before decline is somewhere between 250% - 400% - i.e. 3 1/2 - 5 times.

If you've been told to expect a loading like that I'd be very suspicious and would guess this figure has been plucked out the air. I'd ask to see a copy of the research in writing.

Regarding genetic tests, you don't need to disclose that unless you are applying for a benefit in excess of £500,000. Of course, where a genetic test result is in your favour, you can volunteer it.

annah1212

I think, like many things, this will depend on which companies you approach. My dad is adopted and he has been turned down by some companies for life insurance on that basis, but was told by another company that it made little difference as they consider there will be some people who give information in good faith that's of no relevance because they don't know they're adopted! Similarly when I last looked for life cover, one company turned me down because I had no medical details for my grandparents on my dad's side, but I am now with Friends Provident who quite happily took me on knowing that I can't tell them much about one side of my family at all.

OshayAway

annah1212 wrote: »

I think, like many things, this will depend on which companies you approach. My dad is adopted and he has been turned down by some companies for life insurance on that basis, but was told by another company that it made little difference as they consider there will be some people who give information in good faith that's of no relevance because they don't know they're adopted! Similarly when I last looked for life cover, one company turned me down because I had no medical details for my grandparents on my dad's side, but I am now with Friends Provident who quite happily took me on knowing that I can't tell them much about one side of my family at all.

I have never, ever heard of any life office asking about grandparents' health.

weighty1_2

OshayAway wrote: »

I have never, ever heard of any life office asking about grandparents' health.

Me neither.

Nor have I heard of anyone ever being declined on the basis that they did not know their parents details due to being adopted.

kingstreet

I suggest the OP consults an Independent Financial Adviser about the best way to approach this issue. Not only will the best cover be found, it should also be found at the best possible price for the applicant's circumstances.

On this occasion, dealing directly with an insurer or tied agent would appear anti-productive and likely to result in higher costs.

annah1212

OshayAway wrote: »

I have never, ever heard of any life office asking about grandparents' health.

You have now I believe it's because my parents are relatively young. I was asked whether they had developed certain conditions before the age of 50 and having explained that neither of them was yet 50, I was then asked about my grandparents.

dunstonh

Please do not PM spammers and those attempting to obtain business in breach of board rules and in breach of FSA's financial promotion rules.

OshayAway

annah1212 wrote: »

You have now I believe it's because my parents are relatively young. I was asked whether they had developed certain conditions before the age of 50 and having explained that neither of them was yet 50, I was then asked about my grandparents.

None of the major insurers standard primary or supplementary application questions ask about anyone other than first degree blood relatives' health prior to age 60 or 65. Most state "to the best of you knowledge..." - in which case you are not required to specify that you are adopted - a couple of others provide an option to select "don't know - adopted". In the latter case, there is no adverse effect on underwriting.

Due to the above, my guess would be that any suggestion to the contrary would be from incorrect 'research'.