Moneysworth wins Best Small Protection Advice Firm 2023!
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The British Heart Foundation says that 7.6 million people in the UK are living with some form of heart condition. Whilst there are still unfortunately a number of deaths from heart-related issues, deaths due to heart issues are falling.
So what does this mean for people with a heart condition who want to take out life insurance?
An insurer is likely to regard your heart condition as an additional risk factor when assessing an application. The good news, however, is that there are insurance companies who will consider people with heart issues. There are clear benefits though to arranging your life insurance with a specialist broker such as Moneysworth.
If you have been declined by one or more insurers because of your previous heart trouble, or you have been told by another broker that your health issues mean you cannot get life insurance, then contact Moneysworth today. We have often been successful in obtaining policies for clients who have been declined elsewhere.
Having a heart condition need not necessarily mean that you have experienced a heart attack in the past. We can also assist clients who have experienced:
Moneysworth’s highly skilled and experienced team are experts in assisting people with many different mental and physical health conditions to obtain the cover that they need.
Recent examples of where we have been able to obtain cover for clients with heart issues include:
58-year-old man who had experienced a heart attack
29-year-old woman with transposed arteries and stenosis
47-year-old man with Essential Thrombosytheria
33-year-old woman who had undergone a valve replacement
44-year-old man who had undergone surgery on two occasions
These cases illustrate that it can still be possible to obtain life insurance where:
If you would like to find out more, then contact Moneysworth today!
Moneysworth is delighted to announce that we have won the Feefo Platinum Trusted Service Award, an independent seal of excellence, which recognises businesses that consistently deliver a world-class customer experience.
Feefo presents Platinum Trusted Service Awards to businesses that have achieved Gold standard for three consecutive years. To receive a Gold Trusted Service Award, businesses must have collected at least 50 reviews with a Feefo service rating of between 4.5 and 4.9 during the year.
Here at Moneysworth, we have achieved an average score of 4.9 out of 5 from 686 highly satisfied customers since we signed up to the Feefo service. Specifically in 2023, our average score was 4.95 from 192 different customers.
As well as regularly receiving ‘five star’ reviews on Feefo, it is also heartening to see the comments our clients make here, illustrating how we were able to provide fantastic solutions to genuine problems.
Feefo established the Trusted Service Awards in 2014 to recognise brands that use the platform to collect verified reviews and receive exceptional feedback from their customers. The awards are unique because they truly reflect a business’s dedication to providing outstanding customer service by analysing feedback from real customers.
Working with over 6,500 brands, Feefo is the world’s largest provider of verified reviews, helping brands understand customers by analysing verified reviews and providing insight into trends, needs and habits.
Andrew Wilkinson, director and consumer duty champion at Moneysworth, commented:
“We are delighted to have been awarded Feefo’s coveted Platinum Partner Award for customer service once again this year. It is a fantastic achievement and deserved recognition for our dedicated team, who work incredibly hard to ensure our clients receive good outcomes, which of course is now a requirement under the new Consumer Duty which came into effect last year. Our customer Feefo comments reveal those aspects of our service that our customers find particularly helpful and of value.
“Key points that many Feefo customers mention in their feedback about their experience of dealing with Moneysworth include references to clear communication from polite, helpful and knowledgeable staff, without any pressure to commit to a sale being applied. Clients appreciate the effort Moneysworth puts in on their behalf to source good outcomes from across the whole market, even if they have had a poor outcome elsewhere before approaching us. Customers frequently mention our tenacity and thoroughness in pursuit in the cover they need in order for them to have the peace of mind of knowing that if the worst were to happen, they and their families are covered.”
Congratulating Moneysworth on winning this year’s award, Tony Wheble, CEO at Feefo, said:
“With customers continuing to build resilience in a time of economic uncertainty, we’re delighted to showcase thousands of our clients who are continuing to go above and beyond for each and every customer.
“The Trusted Service Awards have always been about recognising companies that go way beyond the norm in customer service and in turn receive great feedback from delighted customers.
“Particular congratulations to Moneysworth for winning a Platinum Trusted Service Award by providing great customer service consistently over a number of years. I look forward to seeing them continue to achieve next year and beyond.”
Recent customer feedback submitted via Feefo includes:
“Excellent service. Joanne was extremely helpful and went well above and beyond to help me and my partner find mortgage cover. Would definitely use Moneysworth again and highly recommend them.”
“The service was excellent from start to finish. Malcolm Crossley was very professional and patient with me and supported me in taking the life insurance policy that best suited my needs. Gemma Usher finalised my policy and now I have peace of mind with my life insurance cover. I would recommend Moneysworth Life Insurance and the process excellent.”
Other Feefo feedback that illustrates how we can assist applicants with health conditions and other complex circumstances includes:
“Fantastic service. First contacted Moneysworth in 2022 to arrange life insurance with an underlying heart condition, after I’d been declined by a major provider. They were really informative, and talked through all the options available to best suit my family. They were then incredibly patient and professional when an unexpected health issue changed my circumstance. When I got back in touch in late 2023, they worked through several providers and managed to secure cover for me. A huge weight off my and my partner’s mind. Thanks so much to Jo and the wider team for persevering and all the help and advice.”
“Went above and beyond last year but I was eventually knocked back because of a health condition. They advised me to pursue my GP vigorously to push for further testing as I believed I didn’t have this condition. I took this advice and lo and behold after genetic testing this turned out to be the case. I came away with the required proof, came back to Moneysworth who argued my case further and now have a lovely big life insurance policy after years of being declined everywhere!”
“My case was difficult, complicated and unusual with hurdles at every stage. Andrew Wilkinson and his team guided me with sound, accurate, knowledgeable advice, promptly answered all my many questions in language I could understand, dealt professionally with all my concerns, and achieved the end result I wanted. They were unfailingly polite, efficient, friendly and kind and I would recommend their services without hesitation.”
“Highly recommended. The guys at Moneysworth made my first experience of buying life insurance a breeze even with some fairly complex circumstances.”
“Moneysworth did all the running around to get quotes for my life insurance as I have existing health issues that require specialist insurers.”
We also achieved average scores of 4.8, 4.6 and 4.95 to the three ratings questions we ask on our internal questionnaire. Respectively, these questions ask customers to rate:
Our regulator, the Financial Conduct Authority (FCA), recently introduced the Consumer Duty. The Duty places new obligations on the firms it supervises, to ensure that clients receive favourable outcomes at all times. This latest award from Feefo only reinforces our confidence in saying that our advisers and administrators provide exemplary customer service.
This latest award completes what has been a very exciting and successful period for Moneysworth. In the final weeks of 2023, we won two awards at different industry ceremonies, each naming us as the best small protection advice firm in the UK.
Both our clients and the industry experts have recognised that we offer the highest levels of advice and customer service, so if you are a consumer seeking life insurance, critical illness insurance or income protection insurance, get in touch with us today.
If you work for a financial services firm, then you can rest assured that your clients will be in safe hands if you introduce them to Moneysworth, so please contact us to find out more about what we can offer.
According to charity Mind, one in four of the UK population will be affected by some form of mental health condition in any one year.
Not only are mental health problems, unfortunately, very common in today’s society, there is also undoubtedly a stigma that surrounds this issue, and this inevitably has an impact when it comes to insurance applications made by people with a history of mental health issues.
The good news is that not every insurer thinks in the same way, and Moneysworth’s previous successes demonstrate that it is certainly possible to obtain affordable life insurance for clients who have experienced mental health difficulties. If you have been declined by one or more insurers because of your mental health history, then give Moneysworth a call today as we have frequently been successful in obtaining policies for clients who have been declined elsewhere.
Moneysworth’s highly skilled and experienced team are experts in assisting people with both mental and physical health conditions to obtain the cover that they need.
Recent examples of where we have been able to obtain cover for clients with mental health issues include:
31-year-old woman with a history of various mental health conditions:
26-year-old woman with a history of depression and other complications:
33-year-old woman who had experienced both OCD and depression:
50-year-old man with a history of depression and anxiety:
We can help you find the right insurance if you have experienced any of a number of mental health conditions, which include:
Moneysworth promise to be sensitive to your individual needs and we promise to treat you in a compassionate manner.
Standard exclusions restricting payouts for death by suicide in the first year are apparently not sufficient for many providers where there is evidence of what they see as significant mental health issues. Instead they often apply a heavy loading to the premium or refuse the application outright. This only increases the stigma that surrounds mental health in today’s society.
Also consider that, even when a mental health condition does exist, it is overwhelmingly likely that an individual’s death will be caused by a physical illness.
Although insurers are keen to point out that they offer about 80% of cases involving a mental health disclosure at standard premium rates , this provides little consolation to the other 20% that will be rated or declined.
Moneysworth are seeking to change the landscape for clients with mental health issues. In partnership with a well-known insurer, we have a new Life Cover option that has been specifically designed for people who have had a significant mental health event in the last five years. This new cover option is typically available at a more affordable price, and allows individuals to obtain life cover for death by natural causes, while the exclusion for death by suicide remains in force for longer than the usual 12 months.
It is important to note, however, that we don’t automatically send all mental health cases to this insurer. We have a whole-of-market offering and we always seek the best insurer for your individual circumstances.
Moneysworth’s highly skilled and experienced team are experts in assisting people with both mental and physical health conditions to obtain the cover that they need.
Moneysworth could help you to find protection insurance even if you’re deemed a higher risk, or have been refused elsewhere.
We have, on many occasions, been able to find insurance for people who reside abroad, or who have experienced health issues such as:
Some of our greatest successes include:
If you have been told by another broker that you cannot get life insurance because of a medical issue; or if you have approached insurers directly, without success, then contact Moneysworth today to see how we can help.
There’s no denying the fact that if you have a Body Mass Index (BMI) of more than, say 30, it gets harder to obtain life insurance. At this level, you are considered to be ‘medically obese’, and not only might you have to pay a higher premium, but some insurers might automatically reject your application should you apply to them directly.
Your BMI number – your weight in kilograms divided by the square of your height in metres – is an important consideration for life insurers when deciding whether to offer cover and at what price. They will, however, also consider other factors, such as your age, your personal medical history and the medical history of your close relatives.
The solution here might be to approach a specialist broker such as Moneysworth. We specialise in finding life insurance for clients whose circumstances are a little different – perhaps because they reside overseas, have a riskier occupation or have a mental or physical health concern. We have an extensive knowledge of the criteria used by different insurers and can identify the provider who will offer you the most suitable cover. For example, not all insurers have the same ‘maximum BMI’, so if one provider tells you your BMI is too high, we can approach another insurer on your behalf.
On 2nd August 2023, we were endorsed in the national press (the Daily Mail) as an example of a specialist broker who can assist in situations such as this. Alan Lakey, director at Highclere Financial Services, and a respected name in the life insurance sector, listed us as one of three specialist companies who can assist clients with high BMI and with other health issues.
When we look at 15 life insurance companies used by Moneysworth, we see that:
It’s also important to consider the BMI level that would prompt an insurer to increase your premium. Again, the precise threshold varies between different providers, but most will require you to pay more if your BMI is 32 or above, and some will ‘load’ your premium for a BMI as low as 29.
It’s very difficult for the average consumer to gain a detailed understanding of individual insurers’ criteria. If you have a high BMI, your best option is to make use of a specialist broker such as Moneysworth. We can use our detailed knowledge of insurers’ criteria to find you the very best price available, by approaching the insurers who are likely to consider your application favourably.
Here, it was immediately apparent that a number of insurers were prepared to offer cover to both clients. Where Moneysworth’s specialist knowledge benefitted the clients was that we knew exactly by how much each insurer would increase the premium. Had the clients simply searched a price comparison website and applied to what appeared to be the cheapest provider, this provider may no longer have been the cheapest option once their final offer of terms had been made.
In this case, both partners took out £113,000 of cover over 40 years. The female client’s premium was £12.58 per month, while the male client needs to pay just £9.04.
Then, as a more extreme example of how we can help:
After researching their situation, we told them that while most insurance companies would still say no, we believed we had found a company who might say yes. The insurance company wrote to the client’s GP for a report and the client also attended a brief medical screening. The insurance company was happy with the results and made a definite offer of cover, which the client was happy to accept, of £56,075 decreasing life cover over 20 years for £50 per month.
If you have approached insurers directly and been declined, or have been told by another broker that you can’t get life insurance due to your BMI or any other health issue, then contact Moneysworth today to see how we can help.
Moneysworth director Tim Boddy (centre) receives the Best Small Intermediary award from Jon Brazier, Editor of COVER, and Lucy Porter, the comedian who hosted the event
Moneysworth is thrilled to have scooped two prestigious industry awards in the space of a month.
COVER Magazine’s Excellence Awards ceremony in early November saw us named as the winner in the Small Intermediary of the Year category, an award which is open to smaller companies that arrange life and health protection insurance.
At the same ceremony, we were also shortlisted for two more awards: Outstanding Client Engagement and Outstanding Specialist Intermediary.
This awards success is recognition of our fantastic advice offering and the first-class administrative support we provide all the way from initial enquiry to the point of completion. The judges have also acknowledged the quality of our specialist service where we assist applicants with medical conditions, as well as applicants who are non-UK residents, to obtain life insurance and other protection.
The success at the COVER awards comes just weeks after we landed the Health & Protection Award for Best Small Protection Advice Firm for the second year in succession. Although we have been successful at both of these ceremonies in the past, 2023 marks the first year when we have won an award from both of these organisations.
The COVER judges chose Moneysworth because of our “dedication to securing results for vulnerable clients and those that have struggled to secure cover elsewhere.”
When presenting the Health & Protection award, the judges praised Moneysworth for our commitment to handling “more complex cases” and remarked that we had received “powerful testimonials” from satisfied clients.
We were also shortlisted in the Best Individual Advice Firm category at the Health & Protection ceremony. This award category was open to insurance brokers of all sizes.
Moneysworth director Tim Boddy commented:
“We are delighted to have won this year’s Cover Excellence Award for Small Protection Intermediary of the Year. It is a fantastic achievement and deserved recognition for our dedicated team, who work incredibly hard to ensure our clients receive good outcomes from insurers. This year we also won the same accolade at the Health & Protection Awards, so for the industry to honour us twice in this way really reinforces the feeling that we are getting things right!”
No client circumstances are too complex for Moneysworth and we regularly assist clients with serious medical conditions to obtain the insurance they require. We can also source appropriate life cover for clients who reside outside of the UK.
The industry experts at both awards have recognised that we offer the highest levels of advice and customer service, so if you are a consumer seeking life insurance, critical illness insurance or income protection insurance, get in touch with us today.
If you work for a financial services firm, then you can rest assured that your clients will be in safe hands if you introduce them to Moneysworth, so again, please contact us to find out more about what we can offer.
