#Insurance Review

(Client names and details have been changed for privacy).

John considered himself a long-term client. For seven years, he had paid his Critical Illness premiums on time, every month, without question. The policy, taken out when his mortgage was first secured, was a cornerstone of his financial safety net. As far as he was concerned, he was protected, and the job was done.

Then came the email from Richard Hadley at Goodniss, reminding him it was time for his Annual Financial MOT.

The Need for a Market Check

When John sat down with Richard via video call, he was relaxed. "Just confirm everything is still in order, Richard," he said with a smile. "I'm sure we don't need to change anything."

Richard, however, explained the critical role of the review. "John, your protection is solid, but your policy is seven years old. The market for insurance is constantly evolving. As new providers enter, competition drives prices down, and policies are consistently upgraded with better features."

Richard clarified that without regular checks, clients can simply miss out on the enhanced value the current market offers.

John was paying a comfortable, but unnecessary, £85 per month for his Critical Illness Cover.

Richard, the Financial Detective

Richard performed a detailed review—comparing John's seven-year-old policy against the best available cover in today's market. What he found was excellent news:

1. Lower Premium: A highly-rated competitor offered identical cover for only £52 per month.

2. Wider Definitions: John’s old policy covered 40 serious illnesses. The new policy covered over 55 conditions, including more comprehensive definitions for illnesses like cancer and stroke, which are now standard in the modern market.

3. No New Medicals: Since John's health had remained stable, he was eligible to switch without any new, invasive medical checks.

It is important to understand that the ability to switch policies and secure a lower premium is always dependent on the client's current health status, age at application, and the insurer's full medical underwriting at the time of the review. Savings are not guaranteed for every individual. The difference in policy features and definitions is due to the natural evolution of the insurance market over time, and the original policy was appropriate when it was taken out.

"We need to ensure you're benefiting from today's competitive landscape," Richard concluded. "That means getting you better cover for less money."

The Outcome: Protection Upgraded and Wallet Fuller

The change was seamless. Richard handled all the paperwork, transferring John to the new, superior policy with minimal fuss.

• Annual Saving: £33 x 12 months = £396 saved per year.

• Protection Status: Upgraded to include 15 more covered conditions.

• Peace of Mind: Richard ensured the new policy was set up identically to the old one—and, crucially, written into the correct Trust to ensure a swift, tax-free payout should the worst happen. (The tax treatment of benefits paid via a trust is dependent on individual circumstances and prevailing legislation.)

John’s initial reluctance turned to genuine relief. "That £400 goes straight back into the family holiday fund," he said. "I didn't realise how much the market had changed."

Richard Hadley: The Value of the Annual MOT

"The market is highly competitive, and your policy needs to be too. My job is to act as your independent financial lookout—to check if your long-term commitment is still giving you the best possible value and the most robust protection available today. If better value exists, we'll find it for you."

Ready to Stop Overpaying and Start Saving? Don't miss out on savings or superior protection.

Call Richard Hadley and the Goodniss team on 01625 682 538 or enquire through the contact page to ensure your financial future is protected, whatever life brings.

Goodniss is a trading style of Mortgage Connect (NI) Ltd. Richard Hadley is authorised solely for protection and general insurance advice. We do not offer direct regulated advice on tax, investments, or pensions. All services are offered either directly or on a referral basis to appropriately authorised professionals.