Underwriting

When you get your quote it will be subject to underwriting. This means that the quote is given on the assumption that you are in perfect health, and that there is nothing hazardous involved in your occupation or your hobbies. If, on the application you disclose something to the contrary of this assumption, then the insurance companies underwriting department will need to review your application, and some additional information will most likely be required.

Once they have collected all of the neccessary information they will make a decision, and an “offer of terms” will be made by them to yourself. It is at this stage you can decide whether or not you wish to proceed with the cover at the price they are offering. If you are unhappy with the premiums that are offered to you, remember that you are under no obligation to take up the policy and that you can cancel the application or the policy at any time.

A couple of points to consider when faced with a rated premium are that, all of the insurance companies use similar statistics on which to base there decisions though they may not always give the same increase/rating to the premium. If you have the time and are worried about the potential of an increase it may be worth calling the underwriting departments at the various companies to see who will be likely to give you the most suitable offer. Telephone numbers for these departments are listed at the bottom of the page. The next point is that as an insurance broker we have no influence over the increases/ratings applied. Because we do not accept any commission from the insurance companies, we guarantee that we offer you the cheapest possible prices that we can.

Occupational reasons for increases/ratings of premiums.

Depending on the nature of your occupation you may find that your premiums are increased, or in some rare cases, that your application for cover is actually declined. Below, as an example, are a list of the questions most commonly found on application forms under the heading of “Hazardous occupations”. If you answer “yes” to any of these questions then it is quite likely that your premiums will increase. To get an idea of what a potential increase/rating for your premium may be you can call the underwriters numbers listed at the bottom of the page.

Do you…

• Work externally at heights of over 40 feet.
• Work with explosives.
• Work in the offshore oil or gas industry.
• Work in the offshore fishing industry.
• Work underground in the mining industry.
• Work in the armed forces.

If you participate in dangerous sports or hobbies such as flying or motor racing you may also find that a rating/increase will be applied.

Medical reasons for increases/ratings of premiums.

To begin with, if you are a smoker you will find that your that premiums could be higher. To be considered as a non-smoker you have to not have smoked or used any nicotene products within the last 12 months. If you have requested a quote as a non-smoker and it is later discovered that you are still classified as a smoker it may invalidate your policy.

Examples of three of the more common conditions that will cause the premiums to increase are listed below. An increase is a little more certain especially if they are in conjunction with one another.

• High Blood Pressure
• Raised Cholesterol
• Diabetes

Your BMI (Body Mass Index) will also be taken into consideration.

For some of the more serious conditions such as Cancers, Strokes and Heart attacks, the severity of the condition, the treatment you received, as well as the amount of time which has elapsed since you started your recovery, will all play a part in determining the amount by which your premiums may increase. These points will also determine whether or not the insurance company are actually able to offer you cover.

If you wish to find out how much your premium may increase by you can always call the insurance companies underwriting teams. The telephone numbers are listed below. They will be able to provide you with what is known as a pre-underwriting decision. It will only be an estimation of what a potential loading may be for you. You will not be given a conclusive offer until all of the neccessary medical evidence has been gathered. The evidence required may be gathered by either a report from from your doctor, a telephone interview by a trained nurse with yourself, or in some cases a medical, which will also be carried out by a trained nurse at a time and place that is convenient for you.

Insurance companies underwriting numbers:

Aviva	0800 5335192
Friendslife	0845 3001076
Bright Grey	0845 6094505
Ageas	0845 6006812
Legal & General	0370 3333699
LV	0845 640 5890
Pru Protect	0845 6010072
Aegon/Scottish Equitable	0845 7835473