Refused life insurance?

The most important thing when arranging life insurance is to ensure that you're open and honest about all aspects of your life, regardless of how unfavourable they may seem.

Altering information or failing to supply certain details is known as non-disclosure.

This can lead to your policy being invalidated and a pay out being denied, resulting in your premium payments going to waste.

If all life insurance avenues have been exhausted and you're unable to secure cover due to being declined or unrealistically high premiums, there's still another option.

A prepaid funeral plan.

Funeral plans guarantee acceptance to UK applicants (min and max age ranges will apply) and allow you to pay for your funeral in advance, protecting loved ones from this expense in the future.

Please note, Reassured are unable to sell funeral plans. If you are looking for a funeral plan we suggest you check the FCA register to find a regulated provider.

While this won't provide your loved ones with the luxury of choosing what to spend the proceeds on, it'll provide some future financial protection against one of the largest costs associated with dying.

One of the most likely reasons for being declined life insurance is due to your medical history.

Each medical ailment is considered differently, with many pre-existing conditions not affecting your chances of getting cover or the cost of premiums.

In many instances, if your medical condition is well managed and not life-threatening, you're likely to be able to secure standard terms of cover, although premiums may be inflated to mitigate the insurers' risk.

In the instance of a newly diagnosed medical condition, it's likely your application will be deferred to allow the insurer to determine how the illness will progress over time.

This is also the case for recent major operations, as the life insurance provider will want clarification on your recovery before accepting your application.

As discussed, if you have previously been declined life insurance on medical grounds, you may wish to consider an over 50s plan which doesn’t take into account any information regarding your medical wellbeing

Although it's worth noting, most over 50s plans implement a waiting period at the beginning of a policy, for which you must outlive for cover to be valid (usually 12-24 months).

To understand how your particular medical condition will affect your likelihood of being accepted contact our team today to discuss your individual case.

In some cases, you could be declined life insurance due to suffering depression.

During the application, the severity of your depression will be taken into account, including any self-harming, suicide attempts or time spent in hospital due to your illness.

If you've recently been diagnosed with depression, it's possible that your application will be deferred to allow time for the progression of your illness to be assessed.

Some insurers are better than others for those with depression, so if you've been declined previously due to your condition, there may be other options available.

The award-winning team at Reassured are trained to put you in touch with the providers most likely to accept your application.

Get in touch today to discuss your individual circumstances and find out the best options we can offer.