Practical Protection Podcast: Organ donation

We are onto the second episode of season 6, and this time round I am joined by regular guest Matt Rann. With September having organ donation week, we are talking about all things organ donation. We do focus more upon kidney donations as this is the one that you are most likely to come across, but we also give you some insights into heart transplants and protection insurance after a bone marrow transplant.

Donating an organ doesn’t necessarily mean your access to protection insurance will change, but receiving a transplant can affect your insurance options. Personal life insurance, critical illness cover and income protection can become tricky to arrange, though not impossible.

There are certain things an underwriter will look out for, and Matt and I spoke about some of the medical terms that are useful to know if you’re wanting to be able to thoroughly research the market for your client. I always suggest that if you’re unsure about what you need to know, speak with your account manager or call the underwriters at an insurer to ask them what they need to know to assess the application.

After the underwriting process, it’s time for potential terms. When it comes to deciding a price, insurers might use per mille ratings for a number of years after the transplant. To make things even easier insurers all calculate per mille ratings slightly differently, so even if you have figured it out for one, don’t assume that it will work for the others. Plus, if you get an insurer that looks way better than all the rest triple check if they are applying the per mille to the annual or monthly premium!

Listen to the episode here: https://practical-protection.co.uk/episode-2-organ-donation/.

We are joined by Sue Clarkson for the next episode. We will be talking about SMEs and employee benefits, and our thoughts about group insurance being a key asset for UK firms.

Don’t forget to claim your CPD certificate once you have listened to this episode at https://practical-protection.co.uk/claim-your-cpd/.

Our certificates are accredited by CPD UK, through our sponsor Octo Members.

Please don’t worry if your work systems are not keen on the CPD form (it’s a Google form). Contact me on social media or through the website and I will be able to issue the certificate directly to you.