Life Insurance is something that is relatively high on most peoples list of priorities. Covering yourself in event of the worst to then be able to protect and cover costs for your nearest and dearest is important. But there are also other occasions when life insurance is a requirement. For example, if you are taking out some loans or mortgages the loan company will stipulate that you have life insurance cover in place in order that their loan is covered in the event of the worst case scenario.
Life Insurance is a financial insurance product that will pay out a lump sum to your dependents should you lose your life during the duration of the contract. Ensuring that your dependents are looked after in the event of your death is of course a high priority for many people but thinking about these delicate issues is not comfortable for many people and it tends to get pushed to one side, one of those to do things. Many people think that it is a complex process involving medical examinations, requesting health records etc. But this is certainly not the case in most instances. Simple questionnaires will ask the obvious questions, age, height and weight, lifestyle including drinking and smoking as well as medical history. A profile and risk assessment will then be made to quote for your life insurance policy.
Taking out a life insurance policy at a younger age is much cheaper than applying for life insurance at an older age for obvious reasons. Insurance companies would expect a younger person to be less likely to make a claim than an older person.
It is very important to be honest when answering all of the questions that are asked in a life insurance policy questionnaire, if it is found that someone has not been truthful and a claim is made then records will be checked to ensure that accuracy of the information given in the life insurance policy proposal.
We will advise and make a personal recommendation to you after we have assessed your insurance needs. As a company we have decided to advise on Life Insurance, Critical Illness from a single company called Vitality (Vitality Life / Vitality Health).
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