How to determine if it is worth to pay for premium loading? I have PCOS and my BMI is above 30 so I am considered high risk. Does not make sense to me to reduce SA. Any thoughts?

Hi anon,

Sorry to hear about your situation. I can say however, that if you are offered loading with no exclusions, it will probably be the best outcome (other than standard case). Between an insurer offering loading or exclusion, unless the loading is extremely severe, I would rather get loading and have the right to claim on anything rather than go through life knowing that there is one (or more) conditions that I can never claim on, and praying that I am not struck with those.

Depending on finances, I would say that I would still be willing to stretch my budget a little bit to pay for a policy with loading, even if it meant I had to cross the 10% guideline. In future, I can always increase my income, but there may be no guarantee of my insurability by then. As Hariz has put it, this may be the last policy you can buy.

If your BMI comes down in future, you can try to contest the loading. Loading factors are down to a myraid of reasons, and BMI may be only one of them. Exclusions may be contested as well, if you have medical evidence to prove that a certain condition is no longer an issue, but it's very likely harder.

Hi Anon, without knowing your financial position it may be difficult to advise, but let me offer my thoughts.

Loading just means you have a higher chance to claim than your peers.

If you can, buy as much as they're willing to give you because this may be your last ever policy you can buy.

It'll be difficult to waive exclusions as insurers don't earn more by allowing them. So take it and focus on staying healthy.