LifeNow

How your health impacts Life insurance

Insuring a persons life or more accurately insuring against them dying within a defined period is all about assessing risk.

Life companies rate a person's chances of dying within a certain period against statistics they have and set a premium price accordingly. This is fairly easy to do for experienced companies who have insured millions of people over the years. Their calculations factor in the need to pay out in a small number of cases and ensure their profits remain healthly. In the case of critical illness policies then risk of a payout is obviously higher but payouts are usually smaller. Nevertheless premiums on these products can be high and some high risk applicants may be turned down.

Personal factors that are considered by life insurance companies include age, sex, weight, your job, wether you smoke and of course your health record. Some people will be asked to attend a medical examination, particularly if they are viewed as high risk or need a high level of cover.

So get an understanding of the costs and get yourself an accurate life insurance quote by completing the short form on our quote page.

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