Risk Clinic - PMI moratorium underwriting

clock • 4 min read

I do few PMI sales and want to cover my back with a business client. They are a wealthy couple in their 50s and both have had heart attacks. Obviously their PMI cost is high but they are looking at moratorium underwriting to alleviate this. Am I right to be concerned, even though I've explained it to them?

Susie Colley, West Country healthcare Great care must be taken in considering a private policy for these clients. They will undoubtedly be on medication and therefore their cardio vascular systems will not be covered and he must emphasise this in the ‘reasons why' section. It is laudable that this broker wishes to help his client but with complex medical issues like this, only those brokers who have considerable medical experience should advise such clients. The moratorium plan cost will be no different to a fully medically underwritten (FMU) one. However, the main difference will ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

Protection sales down 102,000 in 2023; adviser focus labelled 'crucial'

'Income protection products are more important than ever'

Cameron Roberts
clock 26 February 2024 • 1 min read
'What if': Why business protection advice is so important

'What if': Why business protection advice is so important

'Advisers need to support their business owner clients'

Naomi Greatorex
clock 08 February 2024 • 4 min read
Market evolution: The protection portal paradox

Market evolution: The protection portal paradox

Advisers can't live without them. But can the market evolve with them?

Kevin Carr
clock 03 January 2024 • 6 min read