We recognised that for some customers the need to have a life insurance policy that offered them immediate cover would be an invaluable benefit. They wouldn't have to wait several months while their life insurance application was assessed by an underwriter.
Having identified this unique gap in the market we worked with Lloyds of London brokerages and syndicates to develop the UK’s first short term life insurance policy. This means that the customer could buy the cover without the need to attend a medical or wait for a GP report to be completed.
It was with great pride that we introduced this unique insurance product to the UK market. We are a leader in developing innovative and exciting offerings for customers.
Why the Need for Emergency Life Cover
As a company that specialies in helping people who are having difficulty in obtaining life insurance, normally due to some form of Pre-Existing Medical Condition, we recognised that the underwriting process could typically take 2 – 3 months before cover was offered. This was due to the fact that a customer’s doctor was asked to provide a medical report (and sometimes subsequent reports are also required). Occasionally the customer may also have to undergo a medical. Our records demonstrate that a 10 week wait is not unusual, sometimes much longer. As the customer has a Pre-Existing Medical Condition, should they die while the policy is being underwritten, then they would not receive a pay out.
We wanted to ensure that our customers had the peace of mind of knowing that while their case was being considered by the mainstream insurers, we can protect them, their families and their business by offering immediate insurance, which also covered their pre-existing medical condition.
There are of course other reasons why an interim life insurance product is an invaluable tool.
For Life Insurance policies with very large sums assured, even if the customer is in good health, the insurer will go through the same process above. Should the person die during the underwriting process then the consequences for their family and / or business could be dire.
Likewise for a very short period, an additional amount of Life Cover could be essential. A business who needs to send an employee abroad or to an Hazardous Location at short notice will find our product invaluable.
Key Features of Emergency Life Insurance
No Medical
No GP report
Lloyd's Short Proposal Form
30 - 90 days cover
100% Lloyds of London security
Cover can be extended (not guaranteed)
Up to £2 million cover per individual
Overseas cover available (subject to Lloyd's approval)
Natural causes only cover available in 'Hazardous Territories'
Flexible underwriting approach
Standard suicide and hazardous pursuits exclusion
Available to FSA Regulated IFA’s and Insurance Brokers
Please Note : This is not a guaranteed acceptance plan. Cover will be available for those whom evidence would suggest are eligible for a long term insurance policy after the completion of a fully underwritten application process. This includes many Pre-Existing Medical Conditions. For a comprehensive list of Medical Conditions where cover has been offered in the past please see opposite.
Cover is not available to people who been diagnosed with a terminal illness, or where the underwriter considers that the customer is now medically uninsurable.
Disclosure : As with all insurance policies it is the responsibility of the person insured on the policy and / or the policy holder to ensure that all material information is disclosed at the point of application. If you are at all uncertain about whether any information or condition is material then you must disclose it. Failing to disclose material information could result in your policy being cancelled and claims not paid.
Please use these forms to provide details of your insurance requirements.
Completed form can be faxed to 0871 277 1422 or via email to quotes@platinumifa.co.uk
In all cases please complete the General Life Insurance Questionnaire and send it to us with the appropriate
supplemental questionnaire(s)
Download
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General Life Insurance Questionnaire
Supplemental Questionnaires
Pre Existing Medical Conditions
Please complete one form for each condition you have
Hazardous Occupation
Hazardous Location / Country
The following are just a few reasons why a short term interim life insurance policy may be an ideal solution :
You are waiting for a standard life insurance application to be accepted
You are going to work in a high risk country
To secure a mortgage or loan where immediate cover is a requirement
To stay covered while you change or renew policies
A sudden change to personal circumstances, e.g having a family or divorce
To support an immediate bridging loan
Medical Conditions
If you suffer or have suffered from any medical condition such as these, it will typically take 6 - 12 weeks before you get an offer of life insurance, as the insurer will want to write to your GP to get the full details of your medical history.
In the vast majority of cases we can have cover in place within days, even if you have one of the conditions below.
Diabetes
Epilepsy
Heart Disease
Angina
Stroke
Depression
Mental Illness
Cancer
Multiple Sclerosis
Hypertension (High Blood Pressure)
High Cholestoerol
Crohns Disease
Ulcerative Colitis
Overweight
Unusual Body Mass Index
Heart Attack
Please call us on 08450 55 95 65 for a no obligation quote.
IFA's and Insurance Brokers who are looking for cover for their clients please call 01621 786082
