Life Insurance

I have a friend who is in his late 50's who recently suffered a heart attack and is now back at work but on medication, he is looking to take out life insurance and has been quoted for £37 a month for £5000 benefit.
Does anyone know if there are any companies out there that can do the same benefits without any medicals, only a bit cheaper.

Replies

  • dunstonhdunstonh Forumite
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    £37 for £5000 is pretty good.

    No mainstream insurance company will take him on without medical disclosure. If its only recently happened, its unlikely they would take him on full stop.

    This leaves smaller specialist companies such as the rather "crap" over 50s plans. However, in this case, they may be less crap than those that have a clean health history.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • saraT_3saraT_3 Forumite
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    would it be the same if someone was diagnosed with epilepsy
    Snootchie Bootchies!
  • dunstonhdunstonh Forumite
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    depends on the severity. An IFA could input the details into one of the online underwriting insurance companies which give an immediate decision. That would be the best way to find out.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • can anyone advise of an online underwriting insurance company
  • dunstonhdunstonh Forumite
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    There are quite a few. Some have different degrees of online underwriting before they fall back to back office underwriting.

    Usually, once the IFA knows the basics of your medical history and has put your details into the various quote comparison engines to see who comes out top, the decision would be made then as to which provider to use.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • is there anyone out there better than the rest. or do they all really provide the same service
  • rossbennrossbenn Forumite
    81 Posts
    arkwright wrote:
    I have a friend who is in his late 50's who recently suffered a heart attack and is now back at work but on medication, he is looking to take out life insurance and has been quoted for £37 a month for £5000 benefit.
    Does anyone know if there are any companies out there that can do the same benefits without any medicals, only a bit cheaper.[/QUOTE


    I dont mean to seem harsh but isnt there a message here? Take out the assurance when you are healthy.
    I am an Independent Financial Adviser with 26 years experience.
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