When applying for life insurance, you will be asked a number of simple questions about your health and lifestyle. This will include whether you or your immediate family have suffered from any medical conditions. This is to help the insurance provider gain a better picture of your health, which can help to determine how much of a risk you might pose.
Depending on your current health condition(s), the insurance provider may ask you further questions, require a report from your GP, ask you to undertake a medical examination or you may be offered cover straight away. If you are offered cover without the need for further medical checks, this may be referred to as non-medical life insurance.
When answering medical questions during the application process, it is important to be honest. This is because insurance providers need to build an accurate picture of your health and the risk you present to them. This helps the provider to understand how much to charge you for your insurance policy. If the information provided is not accurate, it could lead to a claim being rejected or not paid in full.
Even if you have or have had previous medical conditions, it is important to remember that it does not necessarily mean you will be refused cover.
There may be some instances where the insurer requires additional information before being able to offer cover. This might include a physical medical examination or obtaining a report from your GP. The insurer will use this information to help them determine your risk and how much to charge you.
However, if you are in good health, it is unlikely that you will be asked to undergo further medical questions or be required to undergo a physical examination. The insurance provider will likely offer the terms of cover straight away, and they will not ask you to undergo any further examinations or checks following the initial health and lifestyle application. This may be referred to as non-medical life insurance.
It is possible to obtain life insurance without answering any medical questions. This is known as a non-medically underwritten policy. You might opt for a non-medically underwritten policy if you would not otherwise qualify for a medically underwritten policy, due to previous health issues.
It is important to note that you may not receive the same amount of cover, as insurers will not be able to determine the risk. Non-medically underwritten policies are only available to customers aged between 50 and 80; referred to as over 50s life insurance.
Your health and lifestyle factors have a big impact on your life insurance policy. If an insurer considers you to be at low risk of developing health problems, they are usually happy to provide cover, without needing any more details other than the initial questions you answered during the application process. It is therefore important that you provide as much relevant information as possible concerning any health concerns.
If you have or have had previous health problems, it does not mean you will be refused life insurance. It simply means the insurer might require more information to further understand your current health and make sure they offer you the right cover.
At Caspian Insurance, we can work with you to understand your needs and help you through the application process, no matter what your health background consists of. We are here to make sure you get suitable cover for the right price, giving you peace of mind that you and your family are protected.
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