Which specialist insurer covers those with a high BMI?
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 and 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 and avoids wasting time applying to companies who may be too expensive or worse, decline an application. By completing our research thoroughly, we are able to shorten our research process and obtain the best possible terms for our clients.
Mr A contacted us as he required life insurance should he or his spouse pass away to repay their mortgage.
The mortgage has a loan outstanding of £56,000 over a remaining term of 25 years. The most cost effective way of covering this debt is with a Joint Decreasing Term Policy.
Mr A, a 33 year old and Mrs A 30 years old both have very high BMI’s (48 and 45 respectively). Family histories of Type 2 diabetes and heart conditions. Due to these medical disclosures, no major insurer would offer cover at all. After extensive research and speaking with various Underwriters, one specialist company that we found would offer cover. This insurer has a special life policy for people with very high BMI’s and they reward you by reducing your premiums if you lose weight.
Both Mr and Mrs were pleased to obtain individual cover for decreasing term life or earlier terminal illness policy (the specialist insurer in question did not sell joint policies). The minimum premium payable for clients with their BMI was £15 each per month. By paying the minimum premium, it meant that the sum that would be paid out in event of death for each would be £72,600 £191,600 respectively.
Even better, with their special life policies, the premiums would reduce, if they continue to lose weight and eventually could cost them a total of £22 per month. It really does pay to speak with an expert with knowledge of the industry, who can do all the leg work so you don’t have to.
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.
Interested in related stories?
- The benefits of an index-linked life insurance policy
- Watch our short video about why life insurance trust is so important.
- Record £5.3bn in claims paid out by insurers in 2018
- Jon’s moving real-life claim story
- What questions will I be asked by an adviser?
- Why you can trust Future Proof
Whilst you are welcome to get a quote online we would recommend you talk to one of our advisers.
Any quote we provide 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.
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 no: 132383618