It is fairly simple to apply for a life insurance policy and once you know what you need you can use our online application facility to benefit from the exceptionally competitive prices for life insurance that are available via this site.
However, life insurance companies are in the business of assessing risk and as such the assessments that can be involved at the underwriting process before a life insurance company decides to offer you cover can be long winded.
Insurance companies use what they call mortality tables to determine the premium for a particular individual. These tables assess the chances of a person dying within the term of a policy, based on factors such as their age, sex, occupation, smoker/non-smoker status and so on.
Mortality tables will be used to assess the premium for a person in normal health. To these premiums the insurance company may then add a 'loading', after taking into account many factors relating to medical history and lifestyle.
If you're asked to provide any personal information it's crucial you disclose the truth about your health and any conditions you may suffer from to the insurer. If you don't do this, your life insurance policy could be rendered null and void upon your death - your family wouldn't have any of the protection you believed you'd been paying for.
To get the application process started, you can review your own life insurance needs specifically according to your circumstances by using our online personal financial planning research tool, the Finance Navigator.
Establishing your own life insurance needs
Next: What is underwriting?
