Advisers should not assume their client cannot access income protection (IP) cover if they have pre-existing medical conditions, AIG Life has said.
Helen Croft, head of underwriting strategy at AIG Life explained there can be a perception that people with pre-existing medical conditions are excluded from getting IP.
But she highlighted examples of people with blood pressure concerns or asthma who in 83% and 86% of cases respectively were offered a standard rates decision.
And while the process can be more onerous for mental health conditions as underwriters try to assess the severity of the condition or where exclusions are applied for recent symptoms, Croft added most people will be accepted when they disclose such a condition.
Speaking on the fourth day of the Income Protection Taskforce’s Income Protection Awareness Week, Croft said: “When we’re talking about medical conditions and pre-existing medical conditions, I think it’s really important not to assume that people won’t be able to get income protection.
“There are lots of tools available from different insurers such as helplines, pre-sales tools, and email functionalities and I’d really encourage the use of those, particularly if it’s a complex pre-existing medical condition, to understand what the likely outcome is going to be.
“Utilise those tools so you can manage your customer’s expectations, but I think you might be surprised how often people with pre-existing medical conditions can actually get income protection.”
