Income protection insurance and 'live' health issue

[nc321152]

I've been thinking of taking out income protection insurance (or similar) as I've just moved jobs and would not get any long term sick pay from my new employer.

Last week I went to the GP about a dodgy mole and have been urgently referred. I assume I'd have to declare this if applying for IP insurance. Does anyone know if it means insurers would refuse to take me on, or what sort of impact it would have on premiums?

I'm 41. I have a lot of moles, this is not my first urgent referral and it probably won't be my last. The previous one (about a year ago) was benign.

Yes disclose it. Talk to your broker and they will establish with the underwriters if it is something that affects the policy decision / pricing.

When I took mine out I was awaiting some blood results and the underwriters waited for the results before providing the policy. Turned out that my results were in the band that they considered was fine, so no additional loading on the premium, no exclusions.

Talk with your broker. I used Cura Insurance (if you like podcasts and like to learn about insurance, they have a podcast: The Practical Protection Podcast. It is aimed at advisers but it's fairly easy to understand.

You might get it with all cover for melanoma excluded, they might then take that off if the mole is benign. You must disclose it or your policy is invalid and you won't get you premiums back.