If you’re asked to supply more information or go for a medical, will the premium increase?

No, not necessarily. If you’re asked for more information or to have a medical it does not automatically follow that your premium will increase. To put this in context, in our experience 88% of people who apply for life insurance qualify for the price first quoted.

STEP 1 of 2
Type of cover
Life Insurance       Mortgage Life Insurance
 
Cover Level (£)

Number of years
Do you want:  
Critical illness cover
Family income benefit
 

Hot Topics

Is it better to have a Guaranteed or a Reviewable premium?
In the medium to longer term we believe that a Reviewable policy will cost you more than a Guaranteed policy. On the other hand Reviewable policies do have the advantage of a lower premium at the outset and this appeals to many people, especially if budgets are tight.
If my premium is “Rated”, what does that mean?
If your premium is “Rated” it means that the insurance company will only agree to insure you if you pay a higher premium than the one they originally quoted. This happens because, following receipt of your Application and any follow-up information they required, the insurance company believes you to represent an above average risk. (In extreme situations they will simply decline to insure you.)
Does your age affect your premium?
Yes, your age is one of the most important aspects that determines your premium. (Other important aspects include the level of cover you want, whether you are male or female, whether you are a smoker, your occupation and health record.)
Once you've got your quote, what's the next step?
If you decide to go ahead you’ll need to fill in an Application form.
When Does My Cover Start?
Once your insurer has accepted your Application, your insurance cover can start straight away.
The insurance company assumes that you’re in good health for your age, your occupation does not represent a risk to your health, your blood-line relatives do not have a history of hereditary ill-health, you do not follow dangerous hobbies or regularly visit countries with known health problems and you have a generally healthy lifestyle.

If any of these assumptions are wrong, then they will want more information from you. They may also ask for more information if you are applying for a large amount of insurance. We think that this reasonable as you insurer needs to know what level of risk you represent in order to decide whether their original quotation can stand.

If the insurance company asks for more details, or for you to have a medical, it doesn’t necessarily mean that they will want to charge you more. It is quite common for the insurance company to ask for more detail but, in our experience, 88% of people who apply for life insurance still qualify for the initial price quoted.

Frequently Asked Questions related to the above topic.
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