Just because someone has life insurance declined it does not necessarily mean they will be turned down by every insurer.
It is even possible to have a negative decision overturned by providing additional information. An insurance adviser can help with this by being the ‘middle-man’ and speaking to the insurer on your behalf.
Have you been turned down?
If you have, there are a few things you can do.
1/ Find out why.
If you don’t know why cover has been declined you can request a letter from the insurance company to explain the reason. This letter will be sent to your GP. Insurance companies do this in case the information is sensitive or is about a medical condition that might need treating.
You will need to make an appointment with your GP to go over the letter.
People can be turned down for many reasons such as:
Existing medical conditions
Family medical history
Drug / Alcohol Abuse
High Risk Occupations
In some cases it might just be vague or incomplete information that leads to an application being declined.
Medical conditions can be complex and insurers like to know the full picture before making a decision. If they receive information that is incomplete they will sometimes just say ‘no’ and not many people know they can contest the decision.
Even if an insurer receives a report from an applicants GP the information can be vague.
Applications can be submitted online these days which makes it possible for people to ‘click’ the wrong response to an important question.
If you’ve been turned down it may help to check the answers you gave to make sure there have not been any mistakes.
2/ Contact the insurer.
If you’ve made a mistake on the application you can call the insurance company and tell them. You may need to submit the application again with the correct information.
If you’ve been turned down for medical reasons you can contact the insurance company and ask them if cover could be reconsidered if your circumstances change or if they had more information to go on.
One example could be a recent diagnosis of high blood pressure. If a persons blood pressure is erratic their cover could be declined until medication has brought the condition under control. Once it is controlled the GP can send up-to-date readings to the the insurer.
Insurers will not always ask for more information but it can be supplied to them and it can make a difference. They will accept information that is sent directly from a medical professional.
3/ Get a copy of your GP Report
When an application is submitted the insurer will decide if they need a report from the GP.
If an application has been turned down and a GP report has been supplied it is possible for the applicant to ask their surgery for a copy. This detailed information can then be used by a specialist adviser to discuss the possibility of cover with other insurers.
Speaking with a specialist adviser who has access to the whole of the market and the ability to discuss a specific case with insurance underwriters, to establish how the case will be viewed, can increase the chances of being accepted for life insurance.
If another application is submitted to another insurer and a report is requested the applicant will be given the option to see it before the GP releases it to the insurer and this gives them the opportunity to encourage the GP to provide as much information as possible which, can increase the chances of being accepted.
If an application has been declined it does not mean it will be turned down by every insurer and it is perfectly OK to apply to other insurance companies.