Insurance Guides and Resources

Applying for life insurance, many people are nervous when it comes to some of the questions they believe they will be asked. Knowing what those questions may be beforehand can help you relax and move forward with getting the right policy put in place.

What questions will I get asked when applying for life insurance?

1 – Do you smoke?

Probably the single biggest factor in determining the cost of life insurance is whether or not you smoke. Each insurance company has their own definition on what ‘smoking’ means, and some of them will include vaping while others will not – our advisors will be able to help you find the best quote in that situation.

To an insurance company, you are classed as a smoker if you have had a tobacco product at all in the past 12 months – which means that one cigarette you had in the pub with your friends almost a year ago counts and classes you as a smoker.

It is hugely worthwhile stopping smoking in order to lower your life insurance premiums – it can save thousands of pounds over the years of your term. Once you have been a year without taking a puff, give us a call to revisit your policy under non-smoker rates and relish in the savings.

However tempting to omit the occasional weekend cigarette - don't lie. Lying on your application could result in rescinded payout 

2 – What is your height and weight?

Fit and healthy is what life insurance companies want to see – and so should you! We all know that keeping our weight at healthy levels will impact our lifespan, and the amount we enjoy life – do yourself and your wallet a favour and keep yourself in shape.

If your BMI is high because you are more rugby player than rotund, make sure you explain that during the application process.

3 – Do you have any pre-existing medical conditions?

It doesn’t matter what your personal circumstance is, our advisors can help you find a life insurance product to suit – just be honest and let them do the hard work!

There’s a wide range of medical conditions, and the impact of them varies, but it is important at all times to be open and honest. Just relax and explain the situation – you will likely be pleasantly surprised at the positive outcome.

4 – Do you use drugs?

Irrelevant of anyone’s personal or political opinions on drugs, the reality is that their use will negatively impact your premium when you buy life insurance.

Never worry that your information will be passed on – our advisors are there to assess, not to judge, and will work impartially with your details to get the best quote.

5 – Do you participate in any dangerous sport or activity?

It shouldn’t come as a shock to learn that people who jump off tall buildings for fun are a higher risk to insurance companies than the rest of us! Make sure you declare any dangerous activities that you like to do – it usually won’t affect your premium too much but may add an ‘exemption’ clause in your life insurance, meaning you are covered at all times except when you are undertaking the specified activity. This takes the risk of your extreme sport addiction out of the insurer’s hands and right back where it belongs!

Tell the truth

The most important piece of advice is to always tell the truth. You will not be judged by your personal situation or choices, but a failure to disclose something which may affect your policy at the time could result in a dispute should a claim be made.

Over 97% of life insurance claims are paid out without any problems, but those which are contested are almost always due to misrepresentation on the application.

Guaranteed premiums

Most life insurance policies have a locked premium amount determined at the time of application – this means your monthly cost will not change if your situation does. Become a smoker or gain weight later in life and your life insurance is still valid and nothing changes.

Should you improve your lifestyle and lower your level of risk for an insurer, however, it’s worth calling us to see if your policy can be updated or replaced with something cheaper.

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