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The good news is even if you've been declined life insurance in the past you still have options available.
At Reassured, we have secured cover for 45% of customers who have previously been declined life insurance.
Our award-winning service will provide you with the various options available and put you in touch with the top providers most likely to accept your application.
We work with a number of mainstream insurers and specialist providers to ensure everyone can get some form of future financial protection for their loved ones.
So, get in touch today for a free quote.
Keep reading to discover more about your available policy options…
There are a wide number of reasons why you may be refused life insurance.
The good news is, we work with a number of specialist life insurance providers who insure those at higher risk.
We also provide a multitude of policy types, including funeral plans, to ensure everyone can secure some form of financial protection for their loved ones should the worst happen.
The first step is always to understand exactly why you were declined, to allow us to place your application with the most suitable option.
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 selfless investment going to waste.
There are also a number of other steps you can take to improve your chances of being accepted when applying for life insurance:
Yes, as discussed, it's possible to be refused life insurance – albeit rare that there's no other option.
When taking on your application, providers will assess the level of risk you pose, and therefore the likelihood of a claim.
It's when this level of risk is considered too high to offset by inflated premiums, that your application may be declined.
In many instances, if a high-risk factor is identified, such as a pre-existing condition or recent major operation, your application will be referred while more information is gathered to determine the exact level of risk you pose.
In most cases, some form of cover will be able to be arranged, even if with a specialist insurer – although the cost of premiums will be inflated.
If you're worried about being refused life insurance, get in touch with our team who'll discuss your situation with you and the options available.
If you've previously been refused life insurance, all is not lost.
In this instance, the best thing to do is to get in touch with a life insurance broker who can provide you with more options and insurers most likely to accept your application.
Whilst each is better suited to protecting certain aspects within your life, they're also better suited to different types of applicants.
For example, an over 50s plan only takes into account your age, cover amount and smoking status.
Therefore, if you suffer severely from your health or substance misuse but are within the age range 50-85, this may be a better-suited type of policy for you as none of the high-risk factors will be taken into account.
Equally, if you're younger but suffering from a pre-existing condition, term life insurance may be more suitable than whole of life, as the latter premiums would be significantly more expensive due to a guaranteed pay out.
Discussing your options with a broker, such as Reassured, will provide you with all of the information you need to make an informed decision on the best solution.
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 and allow you to pay for your funeral in advance, locking in the cost at today’s rates.
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.
At Reassured, we can arrange funeral plans from £24.49* a month, so get in touch and we can discuss whether this is the best option for you.
As discussed, an over 50s plan has very little criteria to pass in order for your application to be accepted.
The only requisite is that you're a UK citizen, aged between 50-85 years old.
Therefore, if you're looking for life insurance that won’t turn you down, this may be the way to go.
Although, it’s worth noting that the older you are the higher your monthly premiums and the overall sum assured available is significantly lower than other forms of life insurance.
If looking to secure a significant sum assured (above £20,000), it may be best to compare other types of life insurance, even if it means going with a specialist provider.
Get in touch with our team, who can discuss your needs and provide you with all the information required to determine the right option for you.
Unfortunately, if you're refused cover, it means that your application has ended and no protection has been offered.
The question ‘have you ever previously been declined life insurance?’, is also one likely to be asked at future applications, meaning that the refusal will go on your record and may affect future chances of securing cover.
Therefore, when arranging cover, especially if you're concerned about being declined, it's preferable to discuss your options with a broker to understand the best available options and to increase your likelihood of being accepted.
Whilst a previous refusal is unlikely to be the only factor to prevent you from securing cover in the future, it may result in inflated premiums to mitigate any perceived risk.
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.
For the most part, your life insurance application won't be declined 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're a recent suffer of depression, it's likely your application will be deferred to allow time for the progression of your illness to be assessed.
It's only likely that your application would be declined due to depression if it has previously caused a severe threat to your life.
Our award-winning team are trained to put you in touch with the providers most likely to accept your application, whether this be mainstream or specialist.
Get in touch today to discuss your individual circumstances.
The excessive use of drugs and alcohol is likely to lead to a refusal of life insurance due to the associated risks of this behaviour.
While each case and intake will be assessed on an individual level, it's likely that extreme use will result in a decline of application.
However, it's worth noting, that the thresholds considered by most insurers are higher than those considered a recommended intake by the medical industry.
If you've previously been refused life insurance due to your substance misuse, it's likely your application won't be reconsidered unless your habits change significantly over a sustained period of time.
To understand how your substance use will affect your likelihood of securing cover, contact our team today.
Whether you've previously been refused cover or are worried about having your life insurance application declined, we can help.
We can discuss your individual needs and put you in touch with the insurers most likely to accept your application and at the best price.
Our team is trained to deal with all matters sensitively and provide you with all the information you need to make the right decision for you.
And our award-winning and FCA regulated service is completely free of charge.
Simply get in touch today to see how we could help you secure cover.
*£24.49 per month pricing includes a £125 discount only available to Co-operative members and is based on a 50-year-old purchasing a Co-operative Silver Funeral Plan at £3,870 over the maximum term available of 25 years (total amount repayable £7,347.90) as of 1st March 2021
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Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry