If aspects of our health and lifestyle could lead to an early death, insurers deem us high risk.
Perhaps you have a dangerous job, or you smoke. Certain choices you make in your life are assessed when you apply for Life Insurance. This information determines how much of a risk you are to insure, and your premium is set accordingly.
Generally speaking: the higher the risk, the more you’ll pay for insurance.
It always pays to be honest when applying for insurance. The last thing you want to happen is for your claim to be declined at the worst possible time.
Okay, so some things are out of your control (like a career change). And some health issues aren’t easily avoidable. In some cases, if you are considered too much of a risk, your application may be declined outright.
But there are things within your control that can reduce your level of risk.
Do you smoke? If you quit and maintain a smoke-free lifestyle for more than 12 months, you have a good shot at a cheaper premium. The same goes for obesity. Getting you back in the ‘healthy’ weight range has serious cost savings. In fact, certain insurers may reward those who make significant efforts to become healthy!
Comparing a range of Life Insurance brands is a great way to get a sense of what products are available, and what your premiums will cost. It also makes sure that – even if you’re risky to insure – you’re seeking out the best price for your situation.
We’re ready to help you compare Life Insurance quotes from many great value brands. Try it for yourself, and see if you’re able to get a better rate on your Life Cover.
The information provided here is general only and does not consider your personal objectives, financial situation or needs. Before you decide to purchase a product, it is important to read the relevant PDS.