Life Insurance Pre-Assessment Service

A pre-assessment is basically a phone conversation our qualified insurance consultants have with the underwriters of an insurance company. They ring up with as much information as possible from you, to determine what company will offer you cover.

Some companies may offer you cover at standard rates, whilst others will offer you revised terms. Some may add a loading or exclusion onto your policy. Others still may decline your policy.

A pre-assessment will determine which insurance company will offer you the most comprehensive cover.

What are revised terms?

Revised terms are offered when the insurance company is unable to offer you standard rates according to their guidelines.

They instead offer you:

• Loading: you will be covered for everything, but you will pay a higher premium in order to be covered
• Exclusion: your premium will remain the same, but you will have something excluded from your policy. Depending on what you disclose you may not be covered for a knee injury, if you’ve had serious surgery on your knee, or you might have a mental health exclusion if you have suffered an extensive amount of mental illness.
• Defer: sometimes an insurance company will defer an application for a set period of time. This might be due to a pregnancy or some abnormal blood test results. They may make you wait before they will fully assess your application, to see if your circumstances have altered.
• Decline: this is offered when an insurance company is unable to offer you any cover at all under their guidelines.

Why are pre-assessments performed?

Although most of us wish we had perfect health, the facts are that a lot of us don’t. Whether we struggle with weight issues, a genetic disorder or some type of serious injury that occurred to us at one stage or another in life, we have things that are ‘not quite right’ with our bodies.

Insurance companies want to be able to offer cover to as many people as possible, but with some of us suffering such serious conditions they are unable to. The guidelines of what an insurer will cover you for vary from company to company. Each company have their own rules they must adhere to.

Pre-assessments are used when you disclose to our insurance consultant that you have a certain injury or illness. It can also be used if you perform any hazardous activities or sports, such as motor cross riding or scuba diving, or if you are in a high risk occupation.

How does a pre-assessment work?

Once you have disclosed certain bits of information that our insurance consultant thinks will be of interest to the insurers, they will then ring around to all the leading insurers to find out who will offer you the most comprehensive cover. We won't just compare one other product - Lifebroker goes out of our way to ensure we will find you the best cover on offer to you.