Scottish Widow's philosophy is to not offer Critical Illness Cover for clients who have been diagnosed with diabetes. However, female clients who have previously suffered from gestational diabetes and fully recovered can apply for Critical Illness Cover.
Dependent on the site of the cancer, the prognosis and the number of years passed since last treated, we could consider Critical Illness Cover with a cancer exclusion. You can contact the Scottish Widows Protect Team on 0345 030 6240 to discuss individual circumstances.
No. We will request a General Practitioners Report when required as part of our routine medical evidence. If there are any medical disclosures we are increasingly making use of Targeted General Practitioners Reports that only ask for information about the disclosed condition.
We try to provide 'Own Occupation' definition of TPD to as many of our customers as possible, so where some occupations would normally not be allowed this, we have charged a small extra premium to provide them with this cover. This equates to roughly 5% loading for Life with Critical Illness Cover or 7.5% for standalone Critical Illness Cover.
At point of sale you will be advised on screen. Following manual underwriting your client will receive an explanation of the reason for any declined or postponed outcomes. You can contact the Scottish Widows Protect Team on 0345 030 6240to discuss individual circumstances if necessary.
We only ask for financial information once your client’s total cover in the market place, including their current application, exceeds more than £1,000,000 Life Cover and/or £500,000 Critical Illness Cover.
If you apply online for more than one policy at the same time to cover commercial loans and the total cover, including any existing business cover to remain in force, is over £1million Life Cover or £500K Critical Illness Cover then you should add the loan amounts together and use the longest of the loan terms when answering the online underwriting questions.
We expect the majority of applications to fall within these guidelines, but we appreciate that each case is individual. If the application doesn’t fit within our criteria, it will be referred for manual assessment. One of our senior underwriters will then call you to discuss the case.
If a case doesn’t fit into the above criteria or for larger sums assured, the application will be referred for manual assessment. One of our senior underwriters will call you to discuss the case and we may ask your client to give additional information to validate the sum assured.
The total remuneration figure should include basic salary, regular bonuses and/or dividends and any other regular taxable income. For clients with a variable income or who are self-employed you should use an average over the last 2-3 years.
Not at all. Paper applications have to cover all possible questions to make sure any one piece of relevant data is recorded. In the same way that we have developed our underwriting system to ask appropriate responses to medical disclosures, so we do the same for financial assessment, removing all redundant questions.
No. For business loan cover we’ll assess directly against the liability amount and term. Applications for Relevant Life Cover just require the customer’s remuneration. For all other covers we’ll keep the process simple and use the same thresholds. The maximum number of additional questions asked is four.
We’ll allow full cover for up to 3 directors, owners or key persons for business loan cover. This will give small businesses peace of mind that liabilities are paid off in full on a successful claim. For 4 or more directors, cover should be split to protect the share of the liability each person covered is responsible for.
If you apply online for more than one policy at the same time to cover commercial loans and the total cover (including any existing business cover to remain in force) is over £1,000,000 Life Cover or £500,000 Critical Illness Cover, then you should add the loan amounts together and use the longest of the loan terms when answering the online underwriting questions.
Cover for Key Person will be set at a maximum level based directly on either their remuneration or loss of profits attributable to the person covered. You can discuss covering death in service or pension contribution payments if this suits the business needs. However such amounts should form part of the total available and should not be offered in addition to the level of cover calculated.