If the insurance company ‘Rates’ my application, is it worth applying to another insurance company?

We don’t tend to think so, and here are the reasons why:

1. The underwriting standards don't vary much between insurance companies because they all work to the same industry standards. If one insurance company Rates you, then it's likely that they all will.

2. Most people choose to go with the insurer that offers the cheapest initial quotation. If you apply to the second cheapest insurer and they Rate you as well, you'll still end up paying more with them.

3. Your age is one of the most important factors affecting your premium, and most insurance companies calculate your age in quarter years - each quarter year being more expensive than the last. If you waste a lot of time applying for life insurance by taking a medical for one company then another for the next company, time is ticking away and your age may well move into the next quarter. This means your premiums will already have increased before you’ve even been Rated!