December 3, 2020

Life insurance image

Securing Life Insurance with raised Cholesterol and Haematospermia

Our client

Our client was referred to us by his pension adviser with a view to providing him with advice on Life Insurance.  This particular client did not have any existing cover in place and wanted to protect his home and family.

Mr A wanted a Life Insurance policy to pay off his interest-only mortgage in the event that he passes away, or was diagnosed with a terminal illness.  He had nine years left to run on his mortgage, so any remaining sum after the mortgage is repaid would be gifted to his wife or family.

We advised him to apply for a Level Term Assurance policy over a 9-year term, but he said that he would prefer to have cover until his 80th birthday.  However, we expected his premium to increase once underwritten due to his medical disclosures, so we needed to ensure that the policy met his budget.

Our client suffers from raised cholesterol levels and haematospermia, and before contacting us, he had applied for cover directly with an Insurance Provider.  Unfortunately, this particular insurer had postponed his application until he was no longer experiencing symptoms of haematospermia.

What is Haematospermia?

Haematospermia is defined as having blood in the semen, and whilst often perceived as a symptom of little significance, it can cause great concern to the men who experience it.  The condition is common, and many episodes go unnoticed, therefore, the prevalence of haematospermia remains unknown. In most patients with haematospermia, the condition is self-limited and no further diagnostic workup is needed. However, in some patients, it may be the first indicator of other urological diseases. NHS March 2019

Find out more about Haematospermia on the NHS Website.

Find out more about Raised Cholesterol Level on the NHS Website.

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.

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

The Outcome

We contacted underwriters at a range of Insurers for an initial assessment, and their views ranged from postponement to requiring a GP report from our client’s doctor.  Eventually, we found an insurer who was willing to provide cover on standard terms without the need for his medical information.  This means that they were prepared to offer him the cover on standard rates, charging him their basic quoted premium with no increase. Our client was very happy with the decision and because standard terms were offered, he wanted the cover to be extended to his 80th birthday.

Client Ref: 109570151

All our case studies are based on actual client scenarios, many of which pre-date 2020.  We are confident that the acceptance decision made by the insurers would still be offered. Although it is likely that the rates will have changed, your own circumstances will determine whether what amount will be payable by you and would be fully discussed with you before any plan is implemented.

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.

Next steps

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

Any quote that your adviser provides you with will take into account your circumstances and 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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The existence of a link to another website does not imply or express
endorsement of its provider, products or services by us or St. James’s Place.