March 5, 2018

xray heart

Can I arrange Life Insurance with a family history of heart disease?

Why do life insurance companies want to know about your family’s medical history?

As you may imagine, life insurers are interested in factors which they think will increase their overall risk.

In the case of a family history of heart disease, you will be asked if your parents, or brothers and sisters have suffered from conditions such as a heart attack / heart disease / angina before they reached the age of 60 or 65 (depending upon the insurer).

In general the younger the age when the heart disease was diagnosed, or the more family members who have had heart disease, the more likely they will assess the risk as higher.

The higher the risk, the more likely they are to either ‘load’ the premium you are offered (after your application has been assessed). They may even decide to decline an application, or exclude a condition.

What is a ‘loading’?

A loading may be applied to an offer an insurer issues after completing their underwriting (this may include them writing to the GP for a detailed medical report). The purpose of a loading is to reflect the additional risk the insurer assesses they may be taking on (compared to someone who makes no medical declarations).

Case Study

If, once you’ve read this case study, you’d like to talk through your situation, please call 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

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We recently arranged life insurance cover for a 32 year old lady. She said she wanted to arrange protection if she was to die, or be diagnosed with a terminal illness while her children are still dependent upon her.

Before she contacted us she had applied for cover with an insurer who increased the monthly premium from from £13.61 to £20.41.

She has no health issues whatsoever but this increase was because she had disclosed that her mother had a stroke aged 57 and her father had a heart attack aged 52. Part of all insurers application processes will ask about your family history. Some focus on medical conditions before the age of 60, while others ask about an applicant’s family history before the age of 65.

Our process

When a client has a pre-existing condition, or has suffered a serious illness in the past, the first thing we do is pick up the phone. We speak to Underwriters at many of the UK’s leading Insurance companies. Discussing all of our client’s medical history helps us to identify the best company to apply to. This also means we avoid applying to companies who will end up being too expensive or worse, decline an application. By completing our research thoroughly, we are able to avoid wasting time and obtain the best terms possible for our clients.

An excellent outcome

After finding out what we needed to know about our client’s family history, we researched the market and found that pretty much all insurers would add a similar increase.

However, we found one insurer who advised that they would not increase (or load) the premium based on her family’s medical history.

This meant that we were able to help her secure the cover she wanted, without any increases or exclusions, for a final premium of £13.20 per month.

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

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Next steps

Whilst you are welcome to get a quote on-line we would recommend you talk to one of our advisers.

Any quote that your adviser provides you with will take into account to your circumstances, your medical history, as well as your budget!

An on-line quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof.

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Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer with a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

For support and advice on Heart disease contact British Heart Foundation here

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