The nowsure team is here to answer your life insurance questions, covering everything from what kind of questions you will be asked during the application process to general FAQs.
There is a lot for you to consider when taking out a life insurance policy. This means you will probably have a lot of questions that need answering before you can choose the right policy for you.
In this guide, we cover everything that you will need to know concerning life insurance questions, including:
- What questions you should ask before applying for life insurance
- What questions you will be asked when applying for life insurance
- Life insurance FAQs
- And much more
What life insurance questions should I ask before securing cover?
Before you take out a life insurance policy, there are some questions that are helpful to ask yourself to make sure that you select the right option for you.
Everyone has different needs and different lifestyles. What might be a good policy for one person may not necessarily be the best fit for another.
Some of the key questions about life insurance that you should consider include:
- What do you need to cover for? Is it a mortgage or other large debts that will need to be covered if you die? Might you want to cover family living costs? Or to cover the cost of your funeral?
- How much cover do you need to protect all aspects? You can estimate this by adding up the sum of all your financial commitments.
- Do you have any dependents? If you have children, you might want to consider how long it will be until they reach adulthood and become financially independent.
- How much can you afford to pay in premiums each month? Your available budget may influence the type of policy you choose.
- Are you likely to need additional forms of cover? This could include terminal illness or critical illness cover.
- Are your needs likely to change? This might be applicable if you are planning to move house, grow your family, or retire before the policy comes to term.
- Do you receive any benefits from your employer? For example, death in service (or group life insurance).
- How long do you need cover for? When determining how long you need life insurance before you die, it is helpful to assess your beneficiaries’ financial needs and obligations.
If you are not sure how to answer these questions, nowsure can help you out. Our friendly team is here to support you every step of the way, providing you with the information you need to make an informed decision.
Request a free callback, or call us directly on 0343 178 1237.
What life insurance application questions will I be asked?
When you apply for a life insurance policy, the provider will ask you a number of questions. These questions are mainly focused on your lifestyle and medical history. This is because the insurer needs to assess the level of risk that you pose to determine whether you are eligible for that policy.
The life insurance questions that you will be asked during an application process can vary from provider to provider depending on what their criteria are. However, you can expect to be asked about the following:
Life insurance providers will need to know basic information about you to start the application process.
You will be asked for your:
- Date of birth
Policy providers will ask you about your occupation to determine how hazardous it might be. They will ask if you:
- Have a high-risk occupation (e.g. police officer or firefighter)
- Work offshore
- Work at great heights
- Travel frequently for work (particularly to high-risk areas)
- Work in the armed forces
Health and wellbeing
You will be asked to give details about:
- Your current physical and mental health
- Any pre-existing medical conditions you have
- Your family’s medical history
It is important that you answer these questions honestly, even if you are worried that your answers might mean that your application is denied. If this does happen, there are other options you could explore to get the cover you need.
Your lifestyle is also a key factor for policy providers to consider when assessing the level of risk that you pose. You may be asked whether you:
- Take part in extreme sports
- Ride a motorcycle or moped
- Frequently travel to high-risk countries
Smoking, alcohol, and drugs
You will be asked whether you:
- Smoke (if yes, you must state how long you have been smoking and how many cigarettes you smoke per day)
- Use nicotine replacements (including vapes and e-cigarettes)
- Drink alcohol (if yes, you must state how many units you drink per week)
- Use (or have used) any recreational drugs
Can I secure life insurance without answering any health questions?
It can be possible to secure life insurance without answering any health questions, but you will be offered a lower sum assured.
This type of life insurance is known as ‘guaranteed assurance’. This is because you are guaranteed to be accepted regardless of your medical history. Guaranteed assurance is often chosen by people who have struggled to secure life insurance due to their poor health.
A ‘waiting period’ is also often added to a guaranteed assurance policy, which means that no payout will be made if you die from natural causes within the first 12 to 24 months of your policy.
However, any premium payments that you have made during this time will be refunded to your dependents. Most insurers will also offer full accidental death cover during this period.
What happens if I answer life insurance questions incorrectly?
Providing incorrect details or withholding information on a life insurance application is a type of insurance fraud. This is known as ‘non-disclosure’. If you are discovered doing this, it can lead to a payout being denied to your loved ones.
It is crucial, therefore, that you complete your life insurance application accurately to make sure that your dependents receive a payout in the event of your death.
If you are worried about disclosing a certain medical condition or lifestyle choice, our friendly and professional team are here to support you.
We will help you to complete your application every step of the way with clear explanations and no judgement.
Frequently asked questions about life insurance
Is it worth paying life insurance?
If you want the peace of mind that your loved ones will be financially secure in the event of your death, then term life insurance is worth considering – even if you end up outliving the policy.
At what age should you buy life insurance?
You will typically pay less for life insurance the younger that you are. This is because younger applicants are less at risk of death and therefore are a lower risk to insurers.
However, whether or not you actually need life insurance at a young age depends entirely on your personal circumstances. A 25-year-old who has children and a mortgage, for example, may benefit from taking out a life insurance policy, while a 25-year-old who does not have any children might find it is not worth taking out a policy until later in their life.
Another thing to consider is the length of time you will pay premiums. Although your premium could be lower the younger you are, depending on the term and policy type, you may pay more over your lifetime.
What happens to life insurance if you never use it?
If you outlive your term life insurance policy, your cover will simply expire.
Your dependents will not be able to make any claims on the policy if you die after it has expired.
Why should I choose nowsure for my life insurance cover?
- Do not worry about navigating all the complexities of finding a policy that suits your needs best – we do the hard work for you.
- We only ever use plain language and clear explanations when discussing our policies, which helps you to make an informed decision.
- As a trusted life insurance provider, you can depend on us for quality coverage that suits your needs.
Explore our reliable life insurance policies today and enjoy financial peace of mind knowing your loved ones will be protected no matter what.
If you have any further questions about life insurance or wish to speak to an insurance adviser, request a free callback or contact us directly at 0800 033 4187.