Medical History
People who have an existing medical condition or 'medical history' are considered a greater life insurance risk and are often subject to some exclusions and higher premiums. What’s more, the definitions can differ from one life insurance provider to another.
The most common areas of concern are:
Health issues, Family history, Weight, Bowel conditions, Depression/Stress/Anxiety, Diabetes, Cancer, High blood pressure, Male homosexuality, Smoking
Health Issues
If there are health issues, most life insurance providers will write to the applicant's GP for further details of a person's situation in order to properly assess the risk posed by any condition disclosed on an application form. This assessment of risk will allow the life insurance company to calculate the premiums that will be charged.
Family History
Underwriters will take family history into account when assessing a life insurance application, either in isolation or more particularly to qualify information about an applicant’s personal health.
The main issue is that the appearance of certain conditions in one’s immediate family (parents and siblings) can indicate a higher likelihood of suffering from the same condition.
Life insurance underwriters are most concerned about the appearance of inherited conditions, such as heart disease, diabetes, breast cancer or any other cancers at an early age.
As ever, the type of benefits being applied for will affect the decision.
Weight
The increasing prevalence of obesity and its direct effects on other medical conditions means life insurance providers are now more likely to consider overweight people a greater life insurance risk and prone to higher premiums. Underwriting calculations are made using a number of factors including gender, height, weight and type of life insurance requested.
Male Homosexuality
Different life insurance providers take differing views on the subject of male homosexuality.
LifeSearch advisers will always be happy to offer expert guidance and advice on the most appropriate life insurance policy and life insurance company to suit your actual circumstances.
Smoking
All life insurance providers now ask about the amount that applicants smoke, if they have indicated that they are a smoker on the application form. In short, the more you smoke, the higher your likely premium.
LifeSearch advisers will always be happy to offer expert guidance and advice on the most appropriate life insurance policy and life insurance company to suit your actual circumstances.
