Get life insurance cover with no medical
When you want to take out life insurance, many UK insurers will want to know about your current state of health, before they agree to insure you. Many insurers do this via a medical exam, which will check things like your blood pressure, previous medical history and general fitness.
However, there are some policies which do not require a medical to be conducted at all, which can be beneficial if you do have existing medical conditions, or if you just wish to avoid the hassle of going for an examination.
Which policies do not require a medical?
The decision about whether a medical is called for or not will depend on your individual circumstances and the information you provide to the insurer. When you request to take out life insurance, you will be asked a series of questions about your health, lifestyle and medical history, which will determine whether the insurer requires a further medical to be completed.
- In the majority of cases, where the applicant is under the age of 50, there is no further medical required
- There are also policies which guarantee acceptance for the over 50s with no medical, (although these can be more expensive)
- If you are in good health, have no complicated medical history, and are generally fit and well, you will probably not be asked to complete a medical exam.
When are medicals needed?
If your medical history is more complicated, for instance, if you have a pre-existing condition, have suffered cancer or a heart attack, or are a smoker, you might be asked to go for an additional medical assessment prior to being accepted.
Alternatively, your insurer may ask for permission to contact your doctor to obtain your medical records, which is often enough information for them to start your policy without an additional assessment.
The cost of life insurance with and without a medical
As a general rule, the healthier you are, the lower your insurance premiums will be. Insurers look at a wide range of factors in order to calculate the cost of your policy, which can include things like:
- Whether you smoke or not
- Your weight and BMI
- Family medical history
- Your occupation
- Previous medical conditions
- Your alcohol intake
- Your age.
If you are in good health, then taking out insurance without a medical should not be any more expensive than one which asks you to take an examination. However, if your medical history is more complicated, if you have a pre-existing condition or if you live a less than healthy lifestyle, you will be seen as a higher risk to the insurer.
This may mean that your premiums skyrocket, and in this situation, you would do well to undertake a medical in order to reassure your insurer that you are fit and well right now.
For those over 50, there are a number of specific policies out there which guarantee acceptance with no medical required right up to the age of 80 or beyond. However, these policies are often very expensive, as the insurers bump up the premiums to make up for the higher risk of insuring people in their later lives.
If you are over 50 and in excellent overall health, you could potentially secure a lower insurance premium by going with an insurer who does check your health more thoroughly.
Talk to our Reassured consultants today on 0808 168 2025 to find out more about over 50s life insurance with no medicals and how we can find you the best cover. Alternatively Start Your Quote online today.