The type and severity of a pre-existing medical condition will determine if you are able to obtain life insurance.
An insurer may offer life cover with a higher premium which is called a rating or loading. The higher premiums cover the additional risk that your medical condition poses to your life. This may mean that they will have to pay out an early claim.
With a pre-existing condition, part of our process is to pick up the phone and call insurers to ask for their opinion before you apply.
We work with a range of well-known protection insurers, as well as specialist insurers that do not deal directly with the general public. Based on this outcome, we then help you apply to the most sympathetic and get you cover at an affordable price.
Insurers may request a medical report from your doctor or a private medical examination (which they will pay for). This will help them evaluate your health and pre-existing conditions.
Smoking does impact the price of life insurance. Smokers statistically die younger*. Insurers charge them more to reflect the greater risk of an early claim being made on their policy.
Non-smokers, or people who have given up smoking, have a reduced risk of claiming. This is therefore reflected by lower premiums being charged by insurers when compared to a smoker’s premium. e
The rules are different for different insurers. If you have either
- Stopped smoking for longer than 12 months
- Do not use any tobacco products such as e-cigarettes or nicotine replacement substitutes
We can help you to reduce your premium by switching you to non-smoking rates.
The rules are constantly changing however. Some Insurance Providers could still charge more if an applicant has smoked within the last 5 years. We are happy to investigate which provider will offer you the most competitive premium.
*NHS.co.uk Oct 2021