https://www.aiglife.co.uk/intermediaries/about-us/medical-underwriting Individual Protection from AIG

ACCESS TO INSURANCE

Did you know that someone with diabetes can apply for income protection? Did you know that someone who is HIV positive can get life insurance? Did you know that more than 80% of people with raised blood pressure are accepted at standard rates? AIG are making it easier than ever before for more people to get access to insurance.

#DIDYOUKNOW

The top 5 medical conditions people tell us about on applications for insurance are asthma, raised blood pressure, mental health  conditions, back pain and indigestion.

Over 90% of people who apply for insurance get accepted.

#DIDYOUKNOW

 

Cancer

• 1 in 2 people are expected to be diagnosed with cancer in their lifetime. Developments in research and treatment are now seeing more people beat cancer than ever before - survival rates have doubled in the last 40 years and 50% of those diagnosed with cancer are surviving for 10 years or more.* This shows that there are a growing pool of people who’ve survived and are living normal, healthy lives. Why shouldn’t they be able to get protection?

• For life cover applications can be considered as soon as 1 year post treatment for some early stage cancer, after 10 years some cancers can be accepts with immediate terms through our expert online underwriting system.

• After 10 years post treatment most cancers can be accepted for critical illness and income protection insurance.

• Income Protection could be standard rates, Critical Illness will usually have a full or partial cancer exclusion.

HIV

Despite the severity associated with the condition, the medical advancements in treatment mean that most people with HIV can now live near normal lives. HIV is slowly declining, with a 22% decrease in new cases recorded from 2015 to 2016, however there are still a recorded 89,400 people living with HIV in the UK.

Life cover can be considered with a premium increase for people living with HIV where the condition is well controlled on treatment. The usual criteria would be:

• CD4 count > 350

• Viral load undetectable

• Normal liver and kidney function

• No other significant associated disorders

Blood pressure

Hypertension is one of the most prevalent medical conditions in the UK with 1 in 3 people affected. People with raised blood pressure may think they can’t get insurance but in reality our underwriters assess applications for people with raised blood pressure every day and more than 80% are accepted at standard rates for life and critical illness cover.

Clinically, raised blood pressure is considered to be anything over 140/90 however we recognise that it’s hard for people to remember their exact readings. We’ve therefore developed a set of easy to answer questions in our expert online underwriting system to allow your clients to get the cover they need in place quickly and easily with over 90% of applications getting an immediate decision.

Diabetes

Diabetes is one of the most common medical conditions in the UK. There’s currently estimated to be over 4 million diabetics in the UK. Historically people with diabetes have struggled to obtain income protection insurance which meant they were unprotected should they be unable to work for a prolonged period. There are a number of complications that can arise with diabetes that could lead to someone being unable to work such as eye problems or foot problems, in fact diabetes is the leading cause of blindness in working age people, so the need for income protection is real for diabetics.

AIG can offer Income Protection for diabetics.

Our expert underwriting system has rules to underwrite diabetic customers, diabetics who have a good control of their condition can get an immediate decision on Your Life Plan for up to £750,000 cover without evidence. This means they can get their cover in place with no delays.

Asthma

There are 5.4 million people with asthma in the UK, which means asthma affects one in every 11 people and one in five households, it is currently our most commonly disclosed condition for protection products. Our expert online underwriting engine can accept almost everyone immediately (94%) and mostly at standard rates (90%).Ratings usually only being applied for people who smoke or who have other respiratory conditions.

Mental health

Approximately 1 in 4 people will have a mental health problem each year, there is an increasing awareness of mental health problems in society and medicine. Women are now more likely to be affected than men but men are more likely to take their own lives, with suicide remaining the most common cause of death in men under 49*****

Most people who tell us about mental health problems have mild and controlled depression, stress or anxiety, with 90% of applicants getting an immediate decision for life cover and nearly 60% being accepted at standard rates. Increases in premium tend to be applied where there are long periods of time off work, recent onset or recent changes to treatment or where the history suggests a more serious mental health history such as inpatient treatment or suicide attempts. health conditions are the most common thing people tell us on income protection applications?

We recognise the impact of mental illness is just as significant as physical health problems and that’s why we’ve added severe mental illness to our new Critical Illness proposition.

Back conditions

Back pain is very common and will affect most people at some point. Back pain is the leading cause of disability in the UK. Nearly 7,000 applicants in 2017 told us about their back pain. Unless it is very severe back pain will be accepted standard rates for life and Critical Illness cover. For Income Protection, back pain symptoms within the last 2 years will usually have an exclusion applied, if no symptoms for over 5 years then IP would be standard rates. If symptoms were between 2-5 years ago terms would depend on severity with mild one off episodes being standard rates and recurrent or severe symptoms requiring an exclusion.

BMI

Obesity is an epidemic in the UK, with levels of obesity ever increasing and official figures showing over 25% of the adult population to now be classed as obese***Being overweight increases the risk of many health problems including diabetes, heart disease and certain cancers. Although less than 20% of applications have an increase in premium applied, the most common reason for this is due to an applicant being overweight or obese with nearly half (49.3%) of the rating applied for life cover are because of BMI.

For applicants over 50 we wouldn’t start rating for life insurance until the BMI was 35 or above. In reality, this means someone who is 5 ft 11 and 17 stone can get life insurance at standard rates.


* www.diabetes.org.uk
** www.england.nhs.uk
*** digital.nhs.uk/data-and-information
**** www.mind.org.uk
*****www.bbc.co.uk
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