Your Raised Cholesterol Life Insurance
It is thought that as many as 6 in 10 adults in the UK have raised or abnormal levels of cholesterol. For this reason, cholesterol life insurance enquiries make up a large part of individuals we deal with on a daily basis at Trustsured. Whether it is life insurance or cholesterol critical illness cover you are interested in enquiring about, the matter of cholesterol will be included in the health and lifestyle questionnaires of each and every insurer you approach. It is important therefore to make sure the details of any disclosures are accurate but equally important is to understand how each insurer will react to these disclosures. That is why it is vitally important to deal with a broker who not only understands the subject matter but is well informed and knowledgeable in the options available with the UK’s leading insurers so that the terms and price of any offer of insurance are the best available to an applicants specific circumstances.
Can I get Life Insurance/critical illness cover with raised cholesterol?
In many circumstances, the short answer to that question is a definite yes. However, there will be circumstances where unfortunately the outcome won’t be positive. For example, if an applicant’s cholesterol reading is extremely high or if there are other medical disclosures within the application that are complicated by higher cholesterol levels.
So, what details will insurers take into consideration as part of a raised cholesterol life insurance application and that you should try and have to hand for us to give you an accurate idea of eligibility and costs?
Firstly, as with all medical disclosures, any insurer will ask how long ago the initial diagnosis was made. If this was within the last 6 months, then be prepared for any application to be ‘postponed’. This is when an insurer is essentially saying, “not now, but come back in 3/6/9 months”. Insurers do this because they want to have a better picture of how well an applicant is managing the condition within matters such as how well the mediation prescribed is working and whether or not the dosage needs to be increased. In most cases, both an applicants GP and an insurer will want to see the blood test readings improving over time with the application of medication. Hence why asking for a bit more time before they make a decision makes sense for all.
Any changes to the dosage of medication may also have implications to an application. If the dosage has increased recently, then this can be a sign that the condition is not as well controlled as an applicant’s GP would like it to be. Similarly, if an applicants GP has introduced further medications on top off those already prescribed then this can be a similar sign that the exact formula for best controlling the condition is yet to be established. Again, in these circumstances, the outcome of an application will often be a postponement.
In contrast, if the dosage or number of medications has been reduced recently, then there are often no implications as far as a life insurance or cholesterol critical illness cover application is concerned.
In some cases, patients may have been referred by their GP to a specialist lipid clinic to help maintain the control of their cholesterol. This can very often be because the condition is considered more severe or that there are other health issues to be taken into consideration which lead to the control of a patient’s cholesterol readings to be of a higher priority. In cases such as this, insurers will often take the decision to write to an applicant GP to find out detailed information from the medical professionals who are charged with looking after the patient’s condition. This allows the insurer to have as much accurate information as they require to make an informed decision about what cover they can offer to an applicant and indeed what the cost will be. This process can take more time to complete than a standard application as there are several stages to completion including initially gaining the applicants written or electronic consent, a written request to the GP, payment for the report (which is the responsibility of the insurer and so no cost to the applicant), and then the time it takes for the report to be compiled. On average, this process can take 4/6 weeks.
What are the essential pieces of information I need to get a quote for raised cholesterol life insurance?
You may have already guessed from the above, but they include;
- Date of diagnosis
- Most recent reading (as well as HDL reading if possible)
- The number and type of medications
- Dates of any recent (last 12 mths), changes to medications
- Your height and weight
If it was been some time since you have visited your GP or cholesterol clinic to have a reading, then it is well worth arranging that prior to attempting to get life or critical illness cover insurance. Without a reading taken within the last 12 months, it is very often the case that insurers will automatically increase the cost of the cover (known as a rating), or postpone offering insurance until the reading is available.
It’s worth pointing out that not all insurers take the same view on applications for cholesterol life insurance and this is why it is so vitally important to work with a broker who understands how a set of personal circumstances will be interpreted by each insurer option. Here are Trustsured, each enquiry from our customers are assigned a personal point of contact. When you complete your details via one of the ‘get a quote’ tabs, your point of contact will call you at the time you requested to find out exactly what your requirements are from a personal protection plan. They will then ask for details such as those described above so that they can accurately feed back to you all the options that are available as well as the costs of each. We always encourage our customers to go away and take some time to consider these options before they make a choice so your point of contact will email out your quotes along with all the supporting information and documents for you to look through in your own time. If and when you come to a decision, your point of contact will complete the health and lifestyle questionnaire with you on behalf of the insurer over the phone. If there is the need for any further reports or medicals, your point of contact will explain everything you need to know and/or do and will liaise with you along the way to ensure everything is concluded as swiftly as possible.
Get in touch with Trustsured today
If you are considering your options for life insurance and/or critical illness cover and want to discuss your options and the implications that a disclosure for raised cholesterol may have to an application, get in touch with us today. Likewise, if you have an existing policy that you think you may be paying more than you need to for because you made a disclosure for raised cholesterol at the time of application and would like us to compare the price against our options, we offer a free comparison service also.
In short, don’t leave you life insurance to chance in the hope you get the best deal for your cover. Talk to us and allow us to give you the benefit of our expert knowledge and experience and walk away feeling assured that you found the best deal at the best price for your circumstances!