Have you ever wondered what impaired risk means with…
Life insurance companies won't always check your medical records, but they can ask to.
When applying for most forms of life insurance you'll be required to provide information on your medical wellbeing.
This will include questions such as:
Your answers to these questions may require you to provide further information to allow the life insurance provider to determine the level of risk you pose.
This further information may be collected via your medical records.
You'll be required to provide permission to allow the provider to obtain access to your medical records, but refusal could lead to the decline of cover.
Ultimately, life insurance companies won't always check your medical records if the information provided is adequate, or the type of cover you're arranging doesn't require medical information.
Continue reading to fully understand if/when a life insurance company will check your medical records…
Life insurance companies won't necessarily check your medical records upon your passing.
However, most life insurance cover incorporates a contestability clause.
This is a clause which allows insurers to investigate a death to gather more details and ensure all of the information provided during the application was accurate.
This could involve requesting an inquisition into your death or even reviewing medical records.
If it's found that you have withheld or supplied false information about your medical wellbeing, whether it's related to your death or not, it's likely a claim will be denied.
Therefore, it's essential to be forthcoming and honest during the application process.
Insurers won’t always use the contestability clause but they do have the right to do so when they deem it necessary.
There are a number of instances when a life insurance company may check your medical records.
During the application for most life insurance types, you'll be required to supply information regarding your medical history and wellbeing.
If during this process high-risk factors are identified, such as a pre-existing condition or unfavourable family medical history, the provider may require further information.
This may be in the form of a medical exam or requiring access to your medical records.
This further information will then be used to determine the level of risk you pose to the insurer and allow them to calculate your premiums accordingly.
As discussed, the likelihood of a life insurance provider accessing your medical records will be strongly influenced by the type of policy you look to secure.
Typically, there are 3 types of life insurance policy:
Both term life insurance and whole of life insurance will require you to provide information regarding your health at application.
Therefore, there's a chance with both of these forms of cover that life insurance providers may request access to your medical records.
Over 50s cover, on the other hand, provides guaranteed acceptance to all UK citizens aged 50-85 with no medical information.
As a result, when arranging this form of cover, a life insurance provider will never request access to your medical records.
To ensure a life insurance provider doesn’t access your medical records, the best life insurance policy to arrange would be an over 50s plan.
However, due to the age restrictions and limited sum assured, this may not be the most appropriate cover for everyone.
First and foremost, you should determine the right type of cover to suit your needs.
As discussed, a life insurance provider won't always require access to your medical records, but if they do, you do have the option to decline.
However, declining access is likely to result in your application being rejected.
It's always best to be open and honest during the application process to ensure that your cover is valid and your needs are met.
Comparing providers can help put you in touch with the insurers most likely to accept your application.
Call our award-winning team for all the information you need to make an informed decision and receive your free quotes today.
Have you ever wondered what impaired risk means with…
Being refused life insurance doesn’t mean you have run out…
Unfortunately, cancer is on the increase in the UK. But do…
What do insurers deem as high risk and how will this impact…
What’s the best life insurance for smokers? Find out…
Does income protection cover mental health? Find out the…
What's most important to you when it comes to arranging…
According to internal data from Reassured, the average cost…
How will epilepsy impact your life insurance cover? Read…
Have you ever asked 'Can you have more than one life…
When you're part of a couple, joint life insurance may seem…
Can you secure life insurance after a hepatitis diagnosis…
Yes very pleased with my choice very helpful easy to understand and very pleasant transaction all good!Mrs M Rushworth
Very professional and reassuring. Life insurance sorted in about 10 minutes.Stephen Davies
very courteous and friendly. Polite professional and empathic.Stedroy Fenton
Another happy customer I am. They are very professional and kind. Fully communicative. I recommend.Piotr Stepien
Really attentive during the call, good clear guidance throughout. Well done.Michael Reynolds
Amazing service quick fast and easy and Joey was a star on the phone really help me thanks.Sera Woolley
I made the right choice and now I feel relieved that I did.glyn
Really genuine kind and compassionate team with great knowledge and friendly approach highly recommend them!Katelia Merritt
I must say Jake took me through every step and was brilliant, recommend them anytime.Allan Green
Very happy and everything explained well, so glad a took the time to take the call, normally I would say I'm busy. But compared to other company's we save so much more money.Jenny Berry