NI&P Podcast #14: A broker’s perspective on the underwriting challenges for high-value life cover with JLHO’s Ken Maxwell

In the latest episode of our New Insurance and Protection Podcast, we dive into one of the most complex areas in the protection space – arranging high-value life cover for clients with significant sums assured and in some cases intricate medical histories too.

Our hosts, Sue and Meg, are joined by Ken Maxwell, Chartered Wealth Manager and Director at specialist protection assurance adviser, John Lamb Hill Oldridge (JLHO). Ken shares his expert insight on the practical underwriting hurdles brokers face and what really happens behind the scenes with insurers and reinsurers.

What to expect in this episode

We explore what high-value life cover really means

Ken kicks off by defining what constitutes “high-value” cover and the types of client scenarios that often lead to underwriting complications.

We dig into the impact of clients’ medical histories

Even small historical medical issues can affect underwriting outcomes. Ken explains how advisers can help manage expectations and streamline the process.

We examine insurer and reinsurer delays

What happens when a case gets referred to a pricing team? Ken sheds light on the behind-the-scenes work that can slow down – or speed up – a decision.

We look at underwriting inconsistency across providers

Why can one insurer say yes, another apply a loading and another say no? Ken discusses the challenges advisers face when dealing with such varied underwriting stances across the market.

Top tips for brokers working on high-value protection cases

Before we wrap up, Ken shares three must-know tips for financial advisers to improve outcomes when dealing with complex protection needs.