Securing shareholder and key person cover through evidence led medical underwriting
What was the situation?
Cover was successfully arranged for two of the partners. For the third partner, the level of cover required combined with the medical history disclosed meant an insurer would require more detailed and up to date clinical evidence before they could assess the risk fully. At that point, there was insufficient recent information available to support underwriting.
Rather than progressing an application prematurely, the case was paused and a longer term plan was agreed, focused on building the medical evidence required to achieve a successful underwriting outcome.
Eighteen months later, the client returned with the same objective: to secure cover, align their position with the other partners and complete the wider arrangement.
What was the issue?
The challenge was not the client’s condition itself, but the lack of current, consistent evidence available for underwriting.
Given the level of cover required, an insurer would expect both a GP report and medical screening. However, the condition had not been actively monitored for a number of years. There were no regular readings, limited recent clinical engagement and no clear record of ongoing management.
Without a documented history of control, the insurer had no reliable basis on which to assess the risk with confidence. The priority therefore became rebuilding an underwriting profile that could be supported by clear, credible clinical evidence.
What was the process?
Given the underwriting requirements and the limited recent clinical evidence available at the outset, Robert Fox, Protection Director, set a structured strategy focused on strengthening the client’s insurability over time.
The approach was agreed with the client and centred on building the clinical evidence required for underwriting. Over the following year, the client re engaged with their GP, attended regular check ups and maintained consistent readings over a sustained period. Alongside this, they implemented sustainable lifestyle changes and demonstrated a clear commitment to managing the condition effectively.
As the evidence built, Robert monitored progress closely and advised on the right point to proceed. Once there was sufficient clinical documentation to support underwriting, the application was structured and submitted with full supporting evidence, including the GP report and medical screening results.
The case was presented with complete transparency, ensuring the insurer had everything required to assess the risk properly and reach a well informed decision.
What was the solution?
The client secured shareholder protection and key person insurance, aligning their position with the other partners and completing the wider business continuity plan.
With cover now in place across all three partners, the business had a consistent protection structure designed to support resilience, stability and long term continuity.
The outcome was particularly significant given the original position. What could not be progressed initially was achieved through structured planning, evidence and consistent adviser support. The client was delighted to have the cover in place and reassured that the wider business protection arrangement was now fully in place.
This case demonstrates LDN Finance’s expertise in complex protection underwriting and the value of a strategic, long term approach, where the right outcome is achieved through evidence, preparation and persistence, underpinned by expert case structuring and insurer presentation.
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My fiancée and I were recommended to LDN Finance when we started our mortgage journey, and the service we have received, and continue to receive, has been outstanding throughout. Phil Levesley initially looked after us and made what can be a very daunting process feel straightforward and easy to understand. He took the time to explain everything clearly, never rushed us, and was always happy to answer any questions we had. Nothing ever felt like too much trouble. As part of the process, we also wanted to explore a number of protection policies, and Phil introduced us to his colleague,
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