October 22, 2020

Life insurance after weight loss surgery – Future Proof

Our client

We were recently approached by a 35-year-old female who required life insurance to cover her new mortgage.

Our client was in good health but had had a gastric sleeve operation in the summer of 2013 in order to help her lose weight.  The operation was a success and her BMI (body mass index) is now within recommended guidelines.

Our process and advice

At Future Proof, we have access to specialist insurance companies who don’t deal directly with the public. These companies offer more specialised policies, designed to provide cover where other major providers can’t.

Our research process involves us contacting many insurers to find out the best possible outcome for our clients. Which avoids any nasty shocks later on during the underwriting process.

Would the insurer add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk). Or, exclude a condition?

Might they decline the application? We want to avoid wasting time by making applications which may be declined.

How do insurers view weight loss surgery?

Insurance Companies are unlikely to offer life insurance within 6 months of bariatric surgery (weight loss surgery). They will often add a ‘loading’ to the monthly premium of anything between an additional 50% and 100%.

The loading may last for the entire term of the policy, although some providers will remove it after 3 years.

The Outcome

After completing extensive research on behalf of our client, we were able to recommend an insurer.   The client’s application was submitted and the provider obtained a report from her GP.  Once they had assessed her medical information, they offered her cover on ‘standard rates’ (no increase on top of their standard quoted premium).

Every situation is unique and finding the right provider could save you thousands of pounds

Finding the right provider could save you thousands of pounds over the term of a policy. The cheapest insurer at quotation stage may not actually be the most cost-effective option once the underwriting has been completed.  The terms on which one Insurance company offers cover may not be the same as another, and you could end up paying thousands of pounds more than you need to cover the whole term of the policy.

We have up to date knowledge of the ever-changing landscape of underwriting for all providers in the UK and are committed to thorough research so that you don’t have to.  What’s more, our advice comes at no obligation and with no hidden costs.  You don’t pay us directly but we do get paid by the insurer if you decide to start a policy with them.

Next steps

Whilst you are welcome to get a quote online but we would recommend you talk to one of our advisers.

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

An online 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 from 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.

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