Why these advisers avoid medical underwriting

Medical underwriting for annuities is set to become ever more complicated and important as retirees search for better rates based on their health. However, some IFAs are attempting to shift the responsibility for the paperwork to their clients to avoid liability for non-disclosure. The risks Peter Chadborn, principal of Plan Money, said he stopped helping clients with protection questionnaires four years ago and is considering a similar move with annuities. He said it is dangerous for IFAs to help clients with the forms because “the IFA then becomes involved in the decision about...