“For these people, intermediaries need to look for a product like British Friendly’s Breathing Space which provides cover up to £13,000 per annum without financial underwriting,” adds Telfer.  

“All that the claimant needs to be able to evidence is that they were working immediately before they claim, irrespective of how much they were earning.”

If at first you don’t succeed…

Clearly there are options out there for many high-risk individuals. But there are still plenty of situations in which advisers struggle to place cover for clients. In such instances, it’s worth approaching, or even partnering, with an adviser that specialises in sourcing the right cover, even if the circumstances seem all but hopeless.

Many of the larger protection advice firms operate such relationships with other brokers and intermediaries. As do some of the smaller ones too. 

“We work with a lot of advisers who struggle to place cover for clients,” says Alan Knowles, managing director at Cura Financial Services. “We act as sort of a last port of call, before telling the customer that nothing can be done.  

“Sometimes it's something pretty straightforward and we just chat to the adviser and give them a nudge in the right direction, but more often that not we are referred the client and will advise/propose accordingly.”

So, is cover available for anyone? Pretty much so in the case of life cover at least, according to Knowles. There are specialist policies that cover most people at a price. Other options, such as non-underwritten plans, are also available. And there are always options if you’re willing to put the work in, including Lloyd’s Syndicates. 

“The issue is that for some of the non-underwritten routes cover levels become problematic, offering £50,000 cover won't go very far against a £300,000 mortgage,” he adds

Income protection is strictly underwritten “but there are some excellent underwriting departments,” says Mr Knowles. “By speaking to the right people it’s surprising how often cover can be sourced, as long as you don’t mind exclusions.”

Critical illness is the most restrictive as there is very little available in the non-underwritten market, he comments. 

Kevin Carr is managing director and Suzanne Clarkson is associate consultant of Carr Consulting and Communications