Life insurance application postponed

busy_dad

Morning,

I have applied for life insurance cover and at the end of the application it stated cover could not be provided right now and I could reapply in 6 months. I think this must be down to the fact I have an open hospital referral.

Is the 6 months a hard and fast rule? The hospital referral is next month (and it's a minor condition) so after that my application would likely be accepted. The application wouldn't let me provide any detail about the referral.

If I had known it would have caused a problem I would have waited another month. Is there any mileage contacting the insurer or am I going to have to look elsewhere if want cover within the next 6 months?

Thanks

dunstonh

I think this must be down to the fact I have an open hospital referral.

Where a condition is ongoing further tests etc then it is normal for the application to be postponed until resolved.

Is the 6 months a hard and fast rule?

No. If the issue is cleared in under 6 months then it changes. If it is still ongoing after 6 months, then the postponement continues.

If I had known it would have caused a problem I would have waited another month.

Your adviser/ intermediary could have saved you a lot of time by telling you this before you even started.

Weighty1

Hi

The 6-month postponement period isn't a hard and fast rule, however, they would want to see that you've had the hospital appointment and any required investigations have been completed. If, in fact, you are discharged straight after the appointment next month then there'd be no problem in reapplying at this point, even if it's to the same insurer.

HTH

busy_dad

Thanks both for your helpful replies. Will wait until after the appointment and try again.

Weighty1

busy_dad wrote: »

Thanks both for your helpful replies. Will wait until after the appointment and try again.

It's probably only worth trying again straight after the appointment if no investigations are required.

It would actually be dependent on the diagnosed. Some conditions DO have set postponement periods with some insurers. For example, if a client had a ulcerative colitis flare up some insurers may want to wait 6-months after it's settled down before offering cover since they want to ensure the situation has reverted back to normal.

busy_dad

Thanks that makes sense.

The frustrating thing is the application did not allow any detail to be included about what the referral was for.

It's pretty benign, not something I would have been worried about if the detail was on the form. Nevermind, will see if they will accept it next month.