Will my premium payments be the price I was quoted?
This depends on the details in your application, but
for around 88% of people, yes, it will be the same.
The online quotation is made on the basis of limited information.
To give you that quote, some assumptions will have been made. We assume
that you are in good health for your age and that there is no history
of hereditary ill health in your family. We will also assume that your
occupation isn’t a risk to your health and that you don’t
follow risky pastimes or regularly go abroad to places with known health
risks.
When you fill in the details on your application, you will
be asked to include details about all these things. If the Insurance Company
decides that the information you supply indicates that there may be an
increased level of risk, they will then ask for additional information.
The Insurance Company may also ask for additional information if you are
asking for a large sum to be insured.
Just requesting information does not mean that the Insurance
Company will increase the premium. That may only happen once the additional
information has been considered, if the Insurance Company concludes that
there is in fact a higher risk. If you are regarded as a higher risk,
the word they use to describe your case is rated.
Remember that rating only happens in about 12% of cases.
Unless you are rated, the price you were quoted originally will be the
price you pay. There are no extra costs or fees.
Other relevant questions…
How much will it be?
What factors can add to
the price?
Is Life Insurance for me?
What else do I need to know about Life Insurance?
How do I get a Life Insurance Quote?
How do I choose the right policy for me?
What if I need cover to be arranged quickly?
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How are premiums calculated?
What if I have to make a claim?
Do I need Mortgage Life Insurance instead?
Should I consider Critical Illness cover?
What other sorts of Insurance should I think about?
How do I make a complaint?
What do I need to know about the law and Life Insurance?
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