Rheumatoid arthritis and a life insurance application

Rheumatoid arthritis and a life insurance application

Our client

Mr M, a 52-year-old non-smoker, approached us looking for life insurance which would offer financial security and a legacy to his son. Unfortunately,  he had been diagnosed with Rheumatoid Arthritis 7 years previously, and his condition was active. He had previously been prescribed Methotrexate but suffered severe side effects and therefore stopped taking it.  He currently attends monthly appointments at his local hospital, where he is given Tocilizumab ( a type of biologic therapy) via an intravenous infusion.

Mr M had initially tried to arrange his own life insurance by applying to Insurance providers online. However, he was surprised to find out that his premiums would be likely to increase by an additional 150% on top of their standard quoted premiums, due to his medical history.  Unfortunately, this had not been fully explained to him.

Our process and advice

At Future Proof, we have access to specialist insurance companies who do not deal directly with the public. They offer more specialised policies which are 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 helps avoid 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)

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

The outcome

Once we had completed our research, we were able to advise Mr M that unfortunately, all insurers would increase his premium.  However, we managed to find a provider who would offer a much lower increase than the norm which was typically 100%.

Mr M now has a level term life or earlier terminal illness policy, with a sum assured of £125,000, over a term which runs until he reaches the age of 70 for a monthly premium of £57.75.

Rheumatoid arthritis and a life insurance application

We keep up with the ever-changing landscape of underwriting criteria amongst all providers in the UK and are constantly researching the market so you don’t have to.  What’s more our advice comes with no obligation and 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.

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 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


Interested in related stories?

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What questions will I be asked by an adviser?

Why you can trust Future Proof.

The benefits of an index-linked insurance policy

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.

Links to third-party websites exist for information only and we accept no responsibility or liability for the information contained on any such sites.
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.

Client ref: 97708751

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