Can an insurer refuse to provide outstanding balance insurance?

Yes. People with a chronic or serious illness sometimes have trouble obtaining outstanding balance insurance. Insurers consider them to be a bigger risk and require an additional premium or refuse to provide coverage. The amount of the additional premium varies according to the strategy of the insurer, although some legal restrictions have been provided for.

Your insurance broker will answer all of your questions regarding outstanding balance insurance. Find out more about outstanding balance insurance at NN here.