No doubt you have found this page as you have just discovered that your life insurance application for Legal and General has been declined. If you consider yourself to be in reasonable health then this will undoubtedly come as a shock to you. But don’t worry we can help. In fact this business started by exclusively dealing with clients who had been turned down by Legal and General.
If you want help then just click any of the ‘Get Help’ buttons on this page or just click here.
If you are interested in understanding a little more about why Legal and General may have declined you then read on. Obviously in this article we cannot give specific reasons why your particular application may have been declined, we don’t yet know you, but there are some general issues regarding this insurer which makes them more likely to decline.
Like many people you may have visited a price comparison website and after putting your requirements into the webform the results indicated that Legal and General came top. For top read cheapest premium. Given that all Life Insurance contracts are basically the same, i.e if you die during the term the policy will pay out, then the clear deciding factor for the vast majority of people is the premium.
The initial premiums quoted by all insurance companies are known as ‘standard premiums’. A standard premium is what a customer who is in excellent health with no lifestyle or other issues that could cause an insurer concerns would expect to pay. As quotes are always produced first and before any application form or underwriting takes place, the first quote you receive will be at standard rates. This means a customer who has just suffered a major heart attack, will be quoted ‘Standard Premium’ even though in reality they will have to pay much more for the cover, that is assuming they are not declined outright.
But you may not have had a major heart attack, and as said previously you may consider yourself in reasonable health. To understand Legal and Generals position, it is important to understand the next part of the process – underwriting.
Having got to the point where you have decided to make an application to Legal and General the next stage is to complete an application form. This will include a number of health and lifestyle questions. If your answers to those questions indicate that you have not suffered any illnesses, or there is nothing unusual in your family history or that you don’t jump out of aeroplanes freefalling every other weekend, then your application is likely to be instantly accepted and you could have your insurance cover in place on the same day.
However if your answers flag up some concern it gets passed to an underwriter for further consideration. This is where insurers start to incur large costs, without necessarily being certain they will sell a policy at the end of it. For example they may want to write to your doctor to get further information from your medical records. Your doctor doesn’t do this for free and insurers have to pay quite a large fee to obtain this material.
This is where we come to L&G’s place in the market. As you have discovered they are a very competitively priced insurer. This does mean however that they don’t necessarily want to offer cover to people with a higher risk of claiming. Increased claims will put up rates and therefore threaten their place in the market. They therefore tend to focus on offering cover to standard lives and are more likely to decline people with pre-exiting conditions or who are overweight.
None of this is a criticism of L&G, but rather a reasoned view of their place in the market. We should also point that they don’t decline everybody who is not in perfect health and they will underwrite cases and offer cover possible with an increased premium. They are a good insurer who offer cover to a wide range of people, unfortunately in this case, perhaps not you.
So what should you do if your life insurance application has been turned down by Legal and General and you still need cover ? Well don’t panic. Simply contact the Life Insurance Help team on 020 33 55 4831 our using our online webform. We deal with cases like this every day of the week. If it is possible for you to get insured in the UK we can obtain it for you, even in many cases a ‘standard premiums’. We do not apply you for any cover until we have evidence that there is a reasonable chance you will be offered cover, and only then after discussing all aspects of your case with you.
Our staff receive outstanding feedback from our customers with well over 80% of them scoring us 1 out if 10 for offering a good old fashioned personal service via the internet.