Help on Mortgage Life Assurance Cost

sangupt

Hi

I'm thinking of buying a house and wanted some advice on getting a MDLA. I'm not very fit physically . I'm a smoker and have diabetes and high BP.

I was not sure whether I'd qualify for MDLA or not and if I did, would the premium run in hundreds? Are there professionals that I can consult to get some good advice from? What would their charges be?

Thanks for your help.

SG

stephenni1971

As a smoker its simple enough - your rates will be higher than non smoker but usually not an issue.

High BP - insurer will want to know current and past two readings and any medication you are under.

Likely your premium will be loaded for this.

By not very fit do you mean you have a high BMI??? If so expect another loading.

Diabetes - again they will need to know what medication you are on if any and also your last few H1Ab results - could be looking at another loading again!

That said depending on your age and amount of cover you need if accepted with loadings premium may be reasonable.

I had a client recently where she was loaded 250% however as original premium was only £10 it came in £35 overall...

OshayAway

Smoker status isn't a problem normally if you are not asthematic or have copd. The diabetes is not a good combination though.


How well controlled is your blood pressure and how many medications are you on the control it? Are you on any statins for cholesterol?

Do you know your last Hba1c? Are you T1 or T2? When was your metformin or insulin dosage last changed? How old are you now and how old were you at diagnosis? What's your BMI?

The good news is that a couple of insurers have recently improved their approach to diabetic risks but you will need a good broker to research as many as possible pre-application.

sangupt

thanks guys for the feedback. Now I know what the insurers will be looking for and the ballpark range of the premmium.

OshayAway - can you please suggest a good broker?

Regards

OshayAway

sangupt wrote: »

thanks guys for the feedback. Now I know what the insurers will be looking for and the ballpark range of the premmium.

OshayAway - can you please suggest a good broker?

Regards

Can't publicly endorse anyone I'm afraid. But ask around friends and family, avoid banks! Find one that is whole of market and ask to see their research. They should be asking the questions in my post and more.