When you get a life insurance quotation, the initial quote assumes that you are in reasonable
health for your age (these are known as 'Standard Terms').
If you like the quote and want to proceed, you will then have to complete a full application
form, and this form will ask for information about your health so they can assess whether
or not you are an acceptable risk.
If you, or any members of your blood family have a history of illness, the life insurance
company may want to check up on your general state of health before accepting you on their
Standard Terms. They may send a letter to your Doctor and/or they may ask you to undergo
a medical (always at their cost!).
If the life insurance company decided that you represent an above average risk, they will
'Rate' you - this means that you cannot be accepted on their standard terms, and you will
need to pay higher premiums. They may even decline you insurance if they think you're too
high a risk.
However in most instances the life insurance company will be able to offer you life insurance
without the need for a medical.
Also be aware that even if the life insurance company does request a medical, it does
not automatically mean that you will be charged higher premiums. Nor does it necessarily
mean that they are concerned about your health, it may just be as an extra precaution because
the sums to be insured are high. As a general rule, the greater the sum insured, the greater
the chance of a medical and background check being requested.
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