Have you recently been declined insurance or decided against applying for fear of rejection? Specifically, I am referring to personal insurance like life cover, critical illness or income protection.
I was told recently by one of the country’s biggest insurance providers that nowadays, there is rarely a case of getting clean insurance anymore. What I mean is it’s rare that when you apply for insurance and provide your medical data, there won’t be some form of an increase in premium.
This is because there are a lot more identified conditions these days. According to Scottish Widows, mental illness, for example, is now the number one health disclosure on applications.
Insurance companies also have more data than ever on health conditions and potential payouts and therefore can make quotes very specific.
But don’t be deterred. Most people can still get insurance regardless of your medical records. You just need to apply in the right way.… Continue Reading