Moneysworth could help you to find protection insurance even if you’re deemed a higher risk, or have been refused elsewhere.
We have, on many occasions, been able to find insurance for people who reside abroad, or who have experienced health issues such as:
Some of our greatest successes include:
If you have been told by another broker that you cannot get life insurance because of a medical issue; or if you have approached insurers directly, without success, then contact Moneysworth today to see how we can help.
You may be aware of the Consumer Duty, which was introduced by our regulator, the Financial Conduct Authority (FCA), on 31st July 2023.
The Consumer Duty places new obligations on financial services firms to take positive actions to ensure they deliver good outcomes for their clients.
One of the main things the FCA wants to see from firms is known as the ‘price and value outcome’. This relates to whether retail customers are receiving ‘fair value’ for a product or service.
The ‘price’ part of this is easy to address, as when you approach Moneysworth for advice on your life insurance, critical illness insurance or income protection insurance needs, you won’t need to pay a fee at any point.
When it comes to delivering ‘value’ to our clients, we promise to:
Our commitment to providing value for our clients also means that we will do our very best to find insurance for you, regardless of your circumstances. We can never guarantee that we will be successful in finding an insurer to accept you, but there are many occasions in the past when we have been successful in securing cover for clients with all manner of different medical conditions.
If you have a medical condition, then it might be the case that the choice of insurers is limited, and you may also need to pay an increased premium. We promise, however, to find the most competitive premium available in the marketplace.
We also have extensive experience of finding cover for people who reside outside of the UK. Once again, these cases can be more complex, but we undertake to provide the very best service and find the best policy available.
If you have been told by another broker that you won’t be able to get life insurance, critical illness insurance or income protection insurance due to your health condition, or due to any other reason, then contact Moneysworth today to see how we can help.
You don’t have to have complex circumstances, such as a health condition or being an overseas resident, to be a Moneysworth client either. To get the very best advice on your life insurance, critical illness insurance or income protection insurance needs, contact us today and one of our experienced and knowledgeable advisers will be in touch.
On taking out a mortgage, or increasing their mortgage amount, many people are prompted to take out life insurance to cover the mortgage balance.
If you don’t have a mortgage, then you should still think about this area. Life events that should prompt you to review your life insurance requirements include:
Depending on your individual circumstances, it can be a good idea to have life insurance for:
Moneysworth’s highly experienced advisers are available to discuss your life cover needs and to carry out a full assessment of how much insurance you might need. Contact us today to find out what we can offer.
The central idea of the Financial Conduct Authority’s new Consumer Duty initiative is that clients should receive “good outcomes”.
When it comes to life and health insurance protection, this is likely to mean that firms will need to take a ‘holistic’ approach, meaning that they will need to consider all of a client’s potential protection needs, rather than perhaps thinking just about life protection in one or two areas.
Similar sentiments have been expressed in several recent trade press articles.
This means considering not only life insurance for the mortgage balance, but also critical illness insurance, as well as some form of income protection or payment protection insurance, as there is a much greater risk of becoming ill during your mortgage term as there is of passing away.
It also means considering all potential protection needs, rather than perhaps just concentrating on life cover.
If an authorised firm decides it doesn’t want to get involved in protection advice, then it has the opportunity to establish an arrangement with a partner firm, whereby insurance leads are passed on to this other firm.
In the new Consumer Duty world, Moneysworth is able to give advice in all areas of protection, including:
One of our particular specialisms is arranging suitable cover for individuals who may otherwise have found it difficult to obtain protection elsewhere.
We have helped large numbers of clients whose circumstances may be a little unusual. For example, they might:
If you wish to find out more about arranging suitable insurance for yourself, then contact Moneysworth today to find out how we can help you.
Moneysworth is well placed to become your protection specialist partner firm in the brave new world of the Consumer Duty.
We invite you to place your trust in Moneysworth’s highly experienced team, who have many years’ experience of the protection market and of helping clients just like yours to achieve fantastic outcomes.
If you want to discuss the opportunities offered by introducing business to Moneysworth, get in touch with us today.
Moneysworth specialises in finding life insurance and other forms of protection for people who might be considered higher risk or who may have been declined when they made applications via other brokers.
This includes arranging cover for people who have tested positive for HIV.
It’s also not that unusual for us to be able to help clients with a history of HIV, as we succeeded here on nine separate occasions in the three-month period from March to May 2023. It should be noted that as many as four different insurers offered terms to our clients in these cases. If you try hard enough, it’s often possible to obtain cover, and you don’t always need to confine your search to one or two specialist providers either.
It’s not just life insurance we can help with either, as we have also been successful in obtaining income protection insurance – policies that pay a replacement income if you can’t work due to accident or sickness – for people with HIV.
Medical advances in this area have been remarkable, and now many people living with HIV can enjoy long, healthy lives. Insurance companies are therefore much more willing to offer cover to people with HIV than was previously the case.
When you apply, the insurer is likely to want to know when you were diagnosed with HIV, and some additional medical details, such as your viral load, CD4 count and any medication you have been prescribed.
Moneysworth boasts a highly skilled and experienced team who know the best approaches to take when dealing with clients who have a history of HIV and other medical conditions.
We are whole-of-market brokers and can consider all insurers in the marketplace. This means that there is a better chance of obtaining competitive life cover than is the case were you to approach a broker who uses a limited panel of providers.
Contact us today and see how we can help you.
For too many of us right now, the cost of living crisis is part of our daily lives. Many of us are looking to make savings in any way we can.
You might be tempted to think about making savings by cancelling your direct debit to your life insurance company. You really need to think carefully, however, before taking this step.
Typically, your insurance policy will end once you have missed three consecutive premiums. This means that you will lose valuable insurance cover, and possibly deprive your loved ones of the peace of mind you were so keen to provide when you took out the policy.
You might be tempted to think that you will simply take out a new life insurance policy once the cost of living crisis eases and your personal financial situation improves. If you think this way, however, not only are you losing valuable cover in the meantime, but it might not be as easy as you think to obtain replacement insurance cover in the future. Being a few years older inevitably means higher premiums, and by the time you apply for the replacement policy, your health or personal situation may have deteriorated, meaning that the insurance companies will only offer you cover at a much higher premium, or may not wish to insure you at all.
If you have decided, however, that you really can’t afford your life insurance premium, before you cancel your direct debit, please speak to your insurer to see how they might be able to help.
For example, your insurer might be prepared to offer: