Will my medical history make a difference to my Life Insurance premium?

Medical history is one of the most important factors relating to your life insurance premiums.

When your insurance company calculates your premium, they are using Actuarial tables based on many years of experience with millions of customers to see where you stand on the scale of risk. Basically they are trying to predict how long you will live, and if you are buying Critical Illness Insurance, they are working out if you are likely to become seriously ill before the end of your policy.

To calculate the risk of you making a claim, the insurance company studies the combination of your age, whether you smoke, your occupation and your medical record. If your medical record or family history suggests you may have future health problems within the policy term, they are likely to ask your Doctor for more information about your health, or to send you for a medical examination.

You won't need to pay for any medical examinations as the insurance company pays for all the costs incurred.

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