Once upon a time Johnny went online for a life insurance quote.
The quote was €26 per month.
Feeling happy with that quote, he decided to apply for life insurance.
He filled out his proposal form and sent it back.
Three days later, the insurer offered him cover at €39 per month.
50% higher than he expected! Why?
Health problems are the main reason insurers increase life insurance premiums
Here are the top 5 we encounter.
Smokers die younger and get more illnesses than non smokers.
So smokers pay 50% more for life insurance.
You’re a non-smoker if you haven’t smoked in 12 months.
High blood pressure is a common condition in Ireland.
But it’s one you can control through medication and a change in diet and exercise.
Most insurance companies are ok with controlled high blood pressure.
If you apply to the most sympathetic insurer, you might even get the standard price.
If you’re managing your asthma well, the insurer won’t increase your premium
But if you’re not keeping your asthma under control, the insurer will class you as a higher risk.
Higher risks = higher premiums.
Severity is all important here.
If you suffer with mild anxiety, you’ll get the normal price.
But if you have been in hospital on more than one occasion, you might not be able to get cover at all.
High cholesterol can contribute to many life-threatening health conditions.
But if well-managed you’ve no need to worry about a premium increase.
Remember if you get a life insurance quote online, the quote will assume perfect health.
That’s why we have a medical questionnaire on our quote system.
You complete it before you apply and we’ll get you an accurate quote based on YOUR OWN HEALTH.
So there are no nasty shocks when you get your final quote.
We know which insurer to apply to depending on your illness.
Applying to the wrong insurer could result in an unnecessary premium increase.
OR even worse….a decline or postpone.
This will make it much more difficult to get the normal price at another insurer.
So make you you apply to the most sympathetic insurer initially.
Need some help finding the correct insurer?
Give me a quick outline using the form below and I’ll be right back.
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We’re an online life insurance broker. We compare life insurance quotes for mortgage protection, life insurance, specified illness cover and income protection from all 6 leading life insurance companies in Ireland, instantly and anonymously.