| You will be asked for a great
deal of information and many different details when you apply for a life insurance
policy. You must be entirely honest when you are applying for a quote. If you
misinform an insurance company then the quote you receive will not be valid. If
you proceed to take out a life insurance policy with an invalid quote then your
policy will be invalid also. Also note that if your situation changes throughout
the term of your policy, say, you take up smoking, then you are legally obliged
to inform your life insurance company. Your original life insurance policy quote
will have been based on the information you provided at that time only.
Below is a list of information that you might be required to provide your UK
insurance company. Based on this information a professional known as an actuary
will come to a decision about the level of risk that you pose and offer you a
life insurance policy quote, or your information will be processed through an
automated system and your quote will be arrived at that way.
- What is your name and what are your contact details?
- How old are you?
- Are you male or female?
- What is your marital status?
- Are you a smoker? Or, have you used tobacco products within the last 12 months?
- What level of cover do you require, or for what sum would you like your life
to be insured?
- What insurance product is it that interests you and for what period of time?
- Do you have any special requirements or require any additional cover?
- Do you require advice with this policy?
- Do you have any medical conditions or health problems?
A quick note on genetic tests
The Code of Practice adhered to by members of the Association of British Insurers
states that insurers cannot insist that someone take a genetic test before considering
them for life insurance. If, however, you have previously had a genetic test for
one reason or another then you are obliged to make the insurer aware of both it
and its results, unless the insurer specifically states that they do not require
such information. The only way in which such a test could affect your life insurance
application is if the test shows that you have a clear increased risk of genetic
disease. If in doubt, speak to the insurance company you are dealing with and
ask them their position on this issue.
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