Although the client has a family history of breast cancer, we would be happy to offer her critical i...
Although the client has a family history of breast cancer, we would be happy to offer her critical illness cover. However, due to her family history, the likelihood of her suffering from the condition is increased. Breast cancer is a condition which can be inherited and so will need to be taken into account when underwriting the application.
Another factor that will affect an underwriter's decision is the age at which the breast cancer occurred. A client is statistically more likely to get this type of cancer if her mother's condition is diagnosed before age 50 than after that age. Therefore, as the client's mother contracted breast cancer before she was 50, the underwriting terms offered would also take this into account.
To help with the underwriting process, a company would typically ask for a GP's report too. And if this showed she had no other significant medical history, then we would offer her cover.
The terms Skandia could offer would be to either rate her premiums or offer her cover which excluded breast cancer. Whenever possible, we prefer to offer clients full cover for all the critical illnesses and conditions, rather than endorsing the policy to remove cover for a specific illness. This way, the client has the widest possible cover, even if it means paying extra. In the client's case, her premium would probably be loaded by around 75%. For example, the premiums for £150,000 cover that pay on the earlier of death or critical illness would be £68.76 for a 25-year fixed term, compared to £39.39 for standard terms or £52.07 for a 10-year rolling term, compared to £27.75 for standard terms.
However, given this client has an above-average potential for developing a particular condition due to her family's medical history, the premiums will still offer tremendous value for money.
