I’m a 27-year-old woman and have a family history of cancer. I’m hoping to be able to get Income Protection, will any of the insurance companies let me apply?
Each insurer has their own way of measuring risk when it comes to insuring your income; therefore each insurer will view things differently. There are a few variants that the insurers will consider when it comes to covering a family history of cancer.
The insurers will only consider your natural parents and siblings, if you are unsure of your family history or don’t know your parents, the insurers will not take family history into consideration.
Some of the factors they consider will include the following:
Once this information has been assessed, there can be a couple of outcomes. The insurers may exclude the condition from any future claims, but you will be covered for everything else. Or they could increase the premium to reflect the higher risk – this is known as a “loading”.
The research on finding which Income Protection provider would provide the most favourable outcome can be done by one of our advisers on your behalf at no extra cost.
Good interaction between client and advisor. Drew knew his brief; articulated and explained the issues clearly and answered questions fully. This all helped me clarify what I wanted and so we agreed on our action swiftly. I am a very satisfied client. Thank you.