Why do I need life assurance?
There are many reasons why you might want to take out life assurance. It might simply be to ensure your family is provided for when you die, especially if you are the main breadwinner. If you have a large debt, or for example, a significant interest in a business, life cover will usually be compulsory. It is also compulsory with many mortgages and large companies may require key man cover for their directors.
How can Partnership offer cover to people who have been declined elsewhere?
Most standard insurance providers have a maximum ‘loading’ they are willing to accept after they carry out their assessments of the applicant’s health. If the applicant doesn’t meet these criteria they will be declined. Partnership specialises in taking on people with health conditions that will reduce their life expectancy. Given the nature of our business we are able to accept loadings that far exceed those available through standard providers.
How do you work out the costs of the premiums?
In simple terms, we charge you a premium that reflects the degree of risk your policy would present to us. In other words, the more likely we are to have to pay out, the higher the premium, therefore the more severe your health condition, the higher your premium will be.
What medical information will I have to provide?
In the first instance you must complete an application form on which you should provide as much information as possible about your medical history. Depending on your age, health, gender, the sum assured you require and the information you provide on your application form, we may seek additional medical information from your GP to support your application. In certain circumstances we may require you to attend a medical examination or undergo further tests.
How long does the whole process take?
If we require a General Practitioner’s report, this usually takes around three to four weeks from application to quote.
Why does it take so long to process a non-standard case?
Partnership can usually provide an illustration within 48 hours. However, given that we are often reliant on external parties, such as General Practitioners, this can delay the issue of a quotation.
How do I apply?
If you have been declined protection by a standard provider you should speak to your Financial Adviser in the first instance. You can get guidance from us on how to
Find an adviser, or find a local independent financial adviser at
www.unbiased.com.