February 10, 2020
Familial Hypercholesterolaemia and life insurance

Familial Hypercholesterolaemia and life insurance

Our Client

Mr W, a 37-year-old non-smoker, contacted us as he required life insurance. He wanted to ensure that funds would be available to repay his mortgage, should he pass away before the end of his mortgage term.

His mortgage had an outstanding balance of £146,000, over a remaining term of 33 years. The most cost-effective way of protecting it would be via a Decreasing Term Policy.

Familial Hypercholesterolaemia

Familial hypercholesterolaemia is the medical term for high cholesterol which runs within families. It’s caused by a gene alteration which is inherited from one or both parents, rather than by having an unhealthy diet/lifestyle.

Our client

Mr W had experienced problems arranging life insurance on his own in the past as he suffers from a combination of health conditions including Familial Hypercholesterolaemia and non-alchoholic fatty liver. He also has a high BMI (25.9) and is a Type 2 Diabetic.

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.

We try to find out the best possible outcome for our clients, to 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 his application? We want to avoid wasting time by making applications which may be declined.

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The outcome

Many of the providers we contacted said that they would increase their standard premium by a minimum of 200% and some said that they would decline cover altogether. However, we found one company which was willing to offer cover with a premium increase of just 75%.

Mr W was pleased that we were able to arrange Decreasing Term Life or earlier Terminal Illness policy for him, with an initial sum assured of £146,000, over a term of 33 years for a monthly premium of £18.91.

Client Ref 147796365

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.

An additional case study

Mr M, a 45-year-old non-smoker, contacted us as he required life insurance to ensure funds are available to repay his mortgage should he pass away.

His mortgage has a loan outstanding of £150,000 over a remaining term of 30 years. The most cost-effective way of covering this is with a Decreasing Term Policy. However, Mr M has experienced problems in arranging life insurance because he suffers from Familial Hypercholesterolemia. 

During our research, we discovered that underwriters wanted to add an increase of 75% to his premium. We found one insurer which would consider not increasing his premium if they could see a doctors report from his GP and their GPs found the risk acceptable.

The outcome

Mr M was pleased that we were able to save him money and we arranged a decreasing term life or earlier terminal illness policy with an initial sum assured of £150,000, over a term of 30 years for a monthly premium of only £15.68. (March 2020)

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 on-line but we recommend you speak to one of our advisers.

Any quote your adviser provides you with will take into account to 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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Why you can trust 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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