I submitted an application to an insurance company and this client have a chronic medical condition. The insurer asked my client to go for a medical check up & despite all the test, the application was rejected.
I told my client,” Let’s try another insurer. This plan is slightly lower in benefits compared to the initial given the same amount of premiums paid but I told my client that lower payout is better than NO payout & not necessarily will accept the case. We put in the application and see what’s the response than you decide to go ahead or not.”
And so the application with the same medical declaration was submitted.
Insurer didn’t asked for test of any kind and sent my client a letter ” Application approved”. No extra loading, No exclusion…etc
This is one of the many situation as an independent financial advisors can do more for our clients where we can fight for a better deal because we can work with different partners.
If I was tied to that particular company that decided to reject my client’s application then there will be nothing else I can do.
My IFA@Sg 