A gentleman contacted us having very recently arranged Life Insurance elsewhere. He explained how he’d provided his broker with very detailed and sensitive medical information, but, when he read through his application form, there was no mention of the medical information provided.
Had the medical information been recorded properly, the application would have been delayed as a doctor’s report would have been necessary. The nature of medical information meant it was likely the insurer would significantly increase the premium, or decline the application.
As the insurer wasn’t provided the information, they issued a policy at their standard premium in good faith. However, it is unlikely a claim would have been paid.
Following research, we submitted full details to another insurer whom agreed to provide cover – albeit at an increased premium the customer considered fair.