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Frequently Asked General Questions
Questions about Prices & Premiums
- Why are the insurance prices on the Internet so low?
Hot Topics
- What decisions will you have to make before you can get a quotation?
- You will have to make four decisions:
- How will a critical illness claim be paid?
- If you have a claim a Critical illness policy pays you a tax-free lump sum normally by cheque. Then, as soon as you receive the payment. the policy will terminate.
- Are You Allowed To Continue Working After A Critical Illness Claim?
- Once an Insurance company has paid your claim it has no interest how you live your life or what you go on to do.
- What happens if your condition improves after making a claim on your Critical Illness policy?
- Once the insurance company has paid you the money is yours to spend how you like. The policy is terminated and your insurer has no interest on how you live your life or indeed whether your condition improves or is healed.
- What happens if your condition deteriorates after making a claim on your Critical Illness policy?
- As far as your insurance is concerned, it makes no difference. Your policy has already paid out and your ex- insurer has no further interest in your health.
- How much will the premium be?
- Is the price you’re quoted, the price you pay?
- Will your premiums increase?
- Is it better to have Guaranteed or Reviewable premiums?
- If you’re asked to supply more information or go for a medical, will the premium increase?
- Could you end up paying more for insurance than someone else the same age?
- Will your medical history affect your premium?
- Why is insurance more expensive for smokers?
- If your premium is “Rated”, what does that mean?
- If your insurer asks for a higher premium because you are Rated, is it worth applying to another insurance company?
- Are there any extras to pay?
- Do you have to pay the Life Insurance Broker a fee?
- Will your Mortgage Lender charge a fee if you buy your Life Insurance from someone else?
- Why is Mortgage Life Insurance cheaper than normal Life Insurance?
Your Age & Health
The Application Process
- Can you get a quotation now online?
- Can life insurance be arranged quickly?
- What causes delay and can delays be reduced?
- What correspondence can you expect to receive after your Application has been submitted?
- What happens if you urgently need Life Insurance in order to complete your house purchase?
- Once you’ve got your quote, what’s the next step?
- When does your cover start?
- What happens if you stop paying your premiums?
Making a Claim
- How do you go about making a claim under your policy?
- Can a claim still be made if the policy is lost?
- Under what situations would a claim be refused?
Questions about legal, complaints & regulatory aspects Life Insurance and the Law
- What does a Life Insurance broker do?
- Information about The Financial Services Authority
- Complaining about a Life Insurance Company
- Complaining about a Life Insurance Broker
- Complaining about misleading advertising