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  • FIRST POST
    • doodlez1612
    • By doodlez1612 5th Aug 18, 5:02 PM
    • 43Posts
    • 1Thanks
    doodlez1612
    Decreasing term insurance - with pre-existing medical
    • #1
    • 5th Aug 18, 5:02 PM
    Decreasing term insurance - with pre-existing medical 5th Aug 18 at 5:02 PM
    Hi.
    My husband and I are in the process of buying our first house and have been advised to take out decreasing term life insurance. Trouble is, I had leukaemia as a child and as a result have various health complications since such as diabetes, high cholesterol etc now. Its all fairly typical and well managed as I've been routinely monitored for years.....but it doesn't bode well for insurance forms.

    I've tried the recommended discount brokers on the guide and gone through the whole tedious application form for a couple of companies and they have all got to the end and said they won't insure me.

    SO, my question is does anyone know which insurance companies are good for people with a medical history?

    Thanks.

    (Also why is this not mentioned on the guide like it is on the holiday insurance guide??)
Page 1
    • ACG
    • By ACG 5th Aug 18, 6:09 PM
    • 17,307 Posts
    • 9,167 Thanks
    ACG
    • #2
    • 5th Aug 18, 6:09 PM
    • #2
    • 5th Aug 18, 6:09 PM
    Health Conditions vary massively from holiday insurance to life insurance. I have asthma for example and a life insurer would not bat an eye lid with my type of asthma, holiday insurance however is a little different.

    I would speak to a broker, I realise this could come across as biased, but I do not think any form of protection insurance should be done on your own without an advisor for the majority of people. You will not be around to argue it with the insurance company should there be a problem. It is also a long term product, not a 12 month one like general insurance products, but that is besides the point.

    Where you have medical conditions, you are not going to get a cheap and cheerful insurer to cover the risk to the same extent as a more expensive insurer. Like anything, where companies are competing on price, they are not competing on criteria/underwriting.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • C.M.
    • By C.M. 5th Aug 18, 9:49 PM
    • 58 Posts
    • 105 Thanks
    C.M.
    • #3
    • 5th Aug 18, 9:49 PM
    • #3
    • 5th Aug 18, 9:49 PM
    I have been refused life insurance a number of times due to a long term condition, which was not being controlled successfully by treatment / medication. This culminated in emergency surgery and a life changing adaption last year - less than 12 months later I was able to get life insurance for the first time.

    I used a broker called the Insurance Surgery - who specialis in preexisting conditions (recommended by a diabetic friend with additional health issues)

    They placed me with Legal & Ge earl - who had outright refused me 8yrs ago. So I would strongly recommend using a broker with experience / specialist knowledge of pre-existing conditions.

    However, from my experience - not being able to get life insurance didnít impact my ability to get a mortgage - it just caused me 8 years of anxiety as an uninsured home owner!
    • dimbo61
    • By dimbo61 6th Aug 18, 9:50 AM
    • 9,958 Posts
    • 5,373 Thanks
    dimbo61
    • #4
    • 6th Aug 18, 9:50 AM
    • #4
    • 6th Aug 18, 9:50 AM
    Please take LEVEL term life assurance when you do find an insurance company to take you on.
    This will provide a Good lump sum later in life when you have hopefully paid off most of the mortgage should the worst happen ( Joint cover ?)

    PS the difference in premiums is small and try to get a policy where the monthly payment stays the same for the whole term.
    Last edited by dimbo61; 06-08-2018 at 9:52 AM.
    • doodlez1612
    • By doodlez1612 12th Aug 18, 3:22 PM
    • 43 Posts
    • 1 Thanks
    doodlez1612
    • #5
    • 12th Aug 18, 3:22 PM
    • #5
    • 12th Aug 18, 3:22 PM
    I'll definitely speak to the Insurance Surgery. They sound exactly like what I am after.

    Thanks, everyone.
    • Lungboy
    • By Lungboy 12th Aug 18, 4:54 PM
    • 1,448 Posts
    • 1,421 Thanks
    Lungboy
    • #6
    • 12th Aug 18, 4:54 PM
    • #6
    • 12th Aug 18, 4:54 PM
    I get my life insurance from ESMI, worth trying if you haven't.
    • jennhg88
    • By jennhg88 12th Aug 18, 5:08 PM
    • 108 Posts
    • 71 Thanks
    jennhg88
    • #7
    • 12th Aug 18, 5:08 PM
    • #7
    • 12th Aug 18, 5:08 PM
    Just sorted out mine with lifesearch, couldn!!!8217;t fault them at all and we both have complex histories and current issues.
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