Getting life insurance quotes UK is meant to be a first step towards providing your family with peace of mind regarding their financial position following your death.
Therefore, you may be very keen to understand some of the points that you may need to think closely about, if you’re to avoid putting any future claims at risk:
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• health declarations – as part of your application for a policy, you may typically be required to provide certain information regarding your current and possibly past heath. The extent of this may vary, depending upon the insurer’s own practices;
inevitably, there may be a relationship between the price of your premium and the answers you provide to these questions, however, it may be a very serious mistake to be economical with the truth in an attempt to keep your costs down;
both as part of your initial application or in the event of a future claim, the insurer may choose to verify your statements through medical sources open to them. If they find that there is a mismatch between reality and your initial declarations, the insurers may not approve the claim;
• missing data – for life insurance quotes, UK providers may typically be keen to ensure that they have all the relevant information they need to help them assess the risks. The above point implied an attempt to mislead but it may be equally serious to accidentally omit pertinent facts relating to your health;
even if you believe that the health issue is not relevant, it is perhaps advisable to declare it and allow your insurer to make their own decision – that applies whether you are considering term or whole life insurance quotes;
• exclusions – in the case of typical life insurance quotes UK providers may include statements relating to exclusions. They may vary from policy to policy but might typically include things such as death due to participation in dangerous sports, working in a hazardous occupation or during a criminal activity;
If you (e.g.) regularly engage in dangerous sports, it might be prudent to discuss this with the insurer to see if it is included in their definitions of hazardous pastimes. Similarly, if you change your occupation once the policy is in force and you start a new career that is defined as being intrinsically highly dangerous, it may be advisable to discuss the implications with your insurers;
• it is worth noting that typically with life insurance quotes, UK providers of insurance are not seeking to define reasons to refuse subsequent claims. All of the above points simply relate to both parties understanding the contract between them (the insurance policy) and honouring it accordingly.