How does a family history of Lynch Syndrome affect life insurance?
What is Lynch Syndrome?
Lynch syndrome (LS) is a rare condition that can run in families. It used to be called Hereditary non-polyposis colorectal cancer (HNPCC).
People diagnosed with LS have a higher risk of developing certain types of cancers, including:
- womb (endometrial cancer)
- small bowel
- ureter and renal pelvis
**MacMillan Cancer Support Sept 2018
We were contacted by Mrs L, who was recently divorced, and a mother of two young children. She was in the process of buying her own home, and wanted to ensure that her mortgage would be repaid if she were to pass away, or suffer a critical illness such as cancer.
Mrs L is a 45 year old non-smoker and in general good health. However, a few members of her extended family have suffered from cancer in the past, and a genetic test had confirmed that she has Lynch Syndrome.
Following advice from her doctor, Mrs L had an elective hysterectomy as a preventative measure. She also has a colonoscopy every two years to check for any changes in the bowel, and to date, she remains in good health.
Unfortunately, has struggled to get any life or critical illness cover directly due to her medical history.
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. Future Proof is 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.
Underwriting research on Lynch Syndrome
We called 11 different insurance providers to discuss Mrs L’s medical history, most of which advised that they would not offer cover on any terms. However, two companies did say that they would be willing to review her application, subject to receiving a report from her GP.
This being the case, we recommended that Mrs L apply to both companies to see who would offer her the best terms. Thankfully this caused her little inconvenience, as in addition to the medical report, she was only required to answer two sets of medical/lifestyle questions to support her application. We provided her with all of the administrative support necessary to ensure that the insurers got the information they needed.
The first company were happy to provide life insurance on standard terms, to cover her mortgage. The policy offered decreasing life insurance of £150,000, over a term of 25 years for a monthly premium of £17.35. Yet, they would not provide critical illness cover.
The second company agreed to offer both life and critical illness cover but would increase their monthly premium by an additional 50%.
We recommended that she took life only mortgage cover from the first provider at £17.35 a month, plus a level term life or earlier critical illness policy with a sum assured of £50,000, over a term of 25 years from the second.
The additional premium being £83.00.
Mrs L was pleased to have obtained the insurance she wanted, for a premium which was within her monthly budget of £100. She now has peace of mind knowing that she has a financial cushion in place should the worse happen.
Client ref: (159002498)
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.Call me back
Interested in related stories?
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.
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