Declined Income Protection

Have you been declined income protection?

Income protection has previously been seen as a very strict policy, in that it used to only be available for the fittest of the fit. This meant that people were declined income protection for having a pre-existing medical condition, extensive travel, hazardous hobbies or a high risk job.

Many people have also found that they have been declined income protection when going through their bank, broker or direct with an insurer, often because they are only able to look at a limited set of insurers for the cover. Here at the Special Risks Bureau we use a fair analysis of insurers available in the whole of the market, to give you access to the a range of insurers who may be able to consider your cover where others could not.

Will my medical condition be covered?

This often depends on the condition, the nature of it and the frequency of symptoms. We have successfully placed cover for people with histories of cancer, diabetes, back trouble, stress/depression, crohn’s disease and many others. We’ve also been able to provide cover where people do hazardous sports and work in high risk jobs such as offshore workers, people working at heights and pilots.

If you have a condition that is musculoskeletal (muscles or skeleton) there is a high chance of exclusions if you have had symptoms or treatment within the last year or two. If however you have had no trouble for a number of years, conditions can often be covered again. Where you have had history of conditions like diabetes or cancer then there may be the chance of a premium increase instead of an exclusion, but this depends on individual circumstances.

I have been declined income protection what should I do?

Call us. Our insurance advisers can help identify which insurer you should place your income protection application to, to improve your chances of being given terms of cover. We have been able to source clients income protection at standard terms, with policy exclusions and/or price increases who have previously been declined cover, just by knowing which insurer is right for you.

Are there any other options?

Some short term income protection providers offer cover on a moratorium basis. This means that they will offer cover with an exclusion on pre-existing conditions you have had with in the last 1-3 years. We normally suggest that a fully underwritten plan is more favourable as you know exactly what you are and are not covered for, however there certainly is a place for these plans as they can often be cheaper and are generally available to those who cannot have full income protection.

How much does the service cost?

We do not normally charge fees for our services and are instead paid by the insurer for directing you to them, once the policy is in place. We do not inflate premiums because you use our services and the premiums you pay by using us will be the same or less than if you went straight to the insurer. By using the Special Risks Bureau you know that the policy you get has been chosen and tailored specifically for your circumstances by one of our industry trained insurance advisers.
If you would like to talk to one of our advisers feel free to call us on 0800 567 7450 or you can request a call back and we will contact you.