Mortgage Protection Insurance Medical

updated June 2016

Do I need to do a mortgage protection insurance medical?

The answer is the dreaded “it depends”.

Your insurer will try to avoid requesting a mortgage protection insurance medical

Why?

Because it slows down the whole process…

… and they have to pay for it!

If you’re in good health, the insurer will offer you cover based on the information in your application form.

But if the insurer needs more information they will ask for a questionnaire and/or a medical report

If they’re still not happy then you will need to do a mortgage protection insurance medical exam.

If you have a medical issue or history that worries you, please contact me immediately. I will speak to the insurers on your behalf so you’ll have a good idea of your chances of avoiding a medical

Mortgage Protection Insurance Medical –  FAQ

• What is a questionnaire?↓

• What is a medical report (PMA/PMAR)?↓

• What are special terms?↓

What is a mortgage protection insurance questionnaire?

Your mortgage protection application form consists of a series of health questions to which you answer either yes or no.

Any yes answers (indicating an illness) will need more detail from you.

You will give more detail in the form of a life insurance questionnaire.

The more detail you can give, the better.

Your insight and knowledge about your medical condition is a good indicator of your control over the illness.

And how you will control your condition in the future.

If the insurer is still not satisfied, they will write to your GP seeking a Private Medical Attendant’s Report (PMAR)

What is a mortgage protection insurance medical report (PMA/PMAR)?

Your Private Medical Attendant’s Report (PMAR) will outline the history of your medical condition.

It’s completed by your GP (not your specialist)

A PMAR can significantly slow down your life insurance application.

On average it takes 3 weeks for the GP to return the medical report.

Our advice is to call your GP as soon as the insurer posts the PMAR  to

1. make sure it has reached the surgery as many PMARs “disappear” as soon as they leave the insurer
2. ask the GP to send it back straight away.

What are mortgage protection insurance special terms?

When you apply for mortgage protection insurance, there can be four different outcomes.

1. Accepted at standard rates – i.e normal price
2. Accepted on special terms – i.e higher price
3. Postponement 
4. Decline

An acceptance on special terms means the insurer has rated you as a higher risk than normal based on your medical history.
(e.g. as a result of height and weight issues or other pre-existing medical conditions such as diabetes)

The insurer will ask you to pay a higher premium than somebody in perfect health because of the higher risk of a claim.

The prices shown on our quote system assume no health issues. You can get an indicative quote but remember if you have a serious health condition, your final premium may be much higher.

Over to you…

If you’re worried about a medical condition and would like some advice before you make an application, call me in confidence on 05793 20836 or complete the short form below.

I’ll speak with my insurers on a no-name/anonymous basis and find out which would be best to apply to.

Nick McGowan
lion.ie | making life insurance easier.