Old Mutual Wealth, part of Quilter, will now consider life insurance cover for customers who have both heart disease, or cerebrovascular disease (e.g. stroke), and diabetes, a combination the industry typically declines.
Previously, any customer who had a combination of heart disease and diabetes or cerebrovascular disease and diabetes would have been denied cover at the application stage.
Peace of mind
Paul Roberts, head of protection at Old Mutual Wealth, said: “Making sure your loved ones are looked after when you pass away is high on everyone’s wish list, which is why more should be done to help people who face restrictions to securing that peace of mind.
“We are delighted that we are now able to offer life cover to people who have both diabetes and heart disease who previously may have struggled to get it. These two problems often come hand in hand and will ordinarily immediately preclude you from getting life cover.”
A customer with a heart condition and diabetes can now enter into Old Mutual Wealth’s underwriting process and may be able to obtain life cover on either its guaranteed whole of life, rolling-term or fixed-term plans.
Old Mutual Wealth suggested that advisers looking to cover clients with one of these combinations of illnesses should contact its pre-sales underwriting service, where they can email or phone an underwriter directly to discuss a case ahead of making an application.