Torquil Clark director Jason King claims that life companies are not treating customers fairly by having standard rates that almost half of applicants cannot qualify for.
He said the number of critical-illness applications that are rated has doubled in the past five years and believes insurers who advertise a standard rate are misleading consumers.
He said: “Over 40 per cent of the applications we put through are now rated. Are insurance companies treating customers fairly if they are only giving standard rates to half the people that apply?”
King added that clean lives are being processed quicker and receiving better service than they were in previous years but he has found that for people not in perfect health the process is taking far longer and clients and advisers are frustrated.
He said: “The number of clean lives is getting smaller with preferred life models. This means that the experience of the minority has improved but the experience of the majority has deteriorated.”