Guide to Life Insurance

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Apply for Life Insurance

So once you have decided which type of life cover is suitable to you and your family, and you have found the right policy, you need to make the application. Depending on the company you may do this over the phone, on-line, face to face, or by post. Whichever way you apply for your insurance it is of utmost importance that the information you give is accurate and complete.

Amongst other questions, you will be asked to provide some detailed personal information.

You may be required to undergo a medical examination before the insurance policy commences.

Required Information	Comments
Name of insured	This is the name of the life to be insured, this maybe two names if the policy is to be a joint policy. A joint policy will cover the two lives but only pays out on the first death.
Age	Obviously the younger you are the lower the premiums.
Amount of benefit	The more benefit you want to insure the higher the premiums will be.
Health	Your medical history will be required and certain questions regarding the health of parents will usually be asked to obtain information regarding any hereditary illnesses.
Weight	Your weight will also contribute to how healthy you are generally and also highlights any possible health issues you may have in the future.
Smoker	Smokers are generally considered to have higher premiums as they are at higher risk of certain life threatening illnesses. Some companies will charge 3-4 times as much on the premiums to that of a non-smoker.

It may also be worth talking to your chosen insurance company about the possibility of placing the insurance policy in trust.

Placing the policy in trust means that the beneficiary will receive the money much quicker and the benefit will not be classed as being part of your estate, in which case the benefit may become affected by inheritance tax.

Download the Life Insurance PDF Guide here - see our other free PDF guides here

Guide Contents

What is life insurance?
The different types of life insurance cover
Term insurance
Whole life insurance
Shopping around for life insurance UK
Apply for life insurance
Make a claim
Life insurance FAQ
Where to get more life insurance help

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