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A refusal often offends
If you have been previously rejected for life insurance, you will probably be aware that the life insurance industry is structured to offer competitive terms to the vast majority of the public. Most clients have unremarkable medical histories and are not involved in occupations or activities that might be considered dangerous and hazardous and would thererfore be unlikely to be declined for life insurance as a result. For this group finding competitively priced life assurance is relatively easy. People who do not fall into this group and who may have had their requests for life insurance cover previously refused or declined, require specialised help and appraisal. Ultimately they may find it difficult to obtain competitively priced life cover.
"I had been refused life insurance cover before and was wary of approaching other insurers for a life insurance quote. As it turned out, everything was fine and cover was issued quickly and easily."
Many people can find themselves in difficulties with mortgage or other loan repayments, which can result in a bad credit rating and problems borrowing money in the future. Similarly, having being previously rejected or declined for life insurance cover by an insurer for a wide variety of reasons can affect your options for the future. When you apply for life insurance, a new mortgage or re-mortgage this might be refused, even though the problems are in the past. Once this has happened and you have been 'previously rejected' by the insurance industry, this record in itself becomes something that you need to consider when applying to other insurance companies or brokers.
However life cover can often be obtained for those with past or present credit problems, even County Court Judgements’s (CCJs), as long as you own your home and it is of sufficient value. If you are having difficulties, it is always a good idea to approach a specialist mortgage provider in order to give you professional advice and avoid damaging a credit rating even further.
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"I had been previously rejected due to health issues but these were in the past. I have a clean bill of health and didn't feel the life insurance company had any reason to reject my request for cover."