Compare leading life insurance providers

Compare leading life insurance providers
- Compare the whole market
- Cheaper than buying direct
- Optional critical illness cover
Insurance companies calculate your premium based on how likely they think you are to make a claim and cost them money. For life insurance, this usually means people who are older, smokers, heavy drinkers and people with existing medical conditions or risky jobs.
If you fall under these categories, we’ve looked at what you can do to get affordable life cover for your needs.
Insurance companies calculate your premium based on how likely they think you are to make a claim and cost them money. So, for example, if you are an inexperienced driver or have a history of speeding, your car insurance will be more expensive.
We’ve looked at what makes someone high risk for life insurance and what you can do to save money if you fall under this category.
High risk life insurance is aimed at people who are at a greater risk of death during the policy term.
These people can find it difficult or expensive to get standard life insurance, so specialist cover might be needed.
Factors can vary by provider, but usually include:
This will vary depending on the provider and level of cover you opt for.
Your premiums will also be affected by how many of the high risk factors apply to you.
The best way to find out how much insurance will cost you is to compare prices from several providers according to your specific circumstances.
You can have a look at our guide to the best life insurance policies to learn more about some of the market’s top providers.
That said, it’s important to remember that what is best for one person, might not be the best for another, especially when it comes to something as personal as life insurance. Make sure you shop around and compare policies to find the best deal for you.
Things to consider when comparing policies include:
This is entirely up to you. Excluding an existing medical condition can make your premiums cheaper, but consider whether the cover would still be worth it without the possibility of receiving a payout to treat or as a result of death by this particular condition.
One way to weigh things up is to calculate how much treatment for this condition costs and if there are any options outside of what’s included on the NHS that can help. The prognosis of the condition will also be worth considering, and whether it can cause further complications that might also be excluded from cover.
If one or more risk factors listed above apply to you, it’s likely that you’ll need high risk life insurance.
That said, different insurers have different classifications for what constitutes high risk. For example, some insurers might consider a certain job or hobby high risk, while others won’t.
This is why shopping around is a good idea.
There are some things that are clearly out of your control, like your age, your pre-existing medical conditions and the life expectancy in the area you live in.
However, making lifestyle choices like quitting smoking, reducing your alcohol intake and not taking part in dangerous activities can all reduce your premium.
If you've consumed any nicotine products in the last 12 months (including cigarettes, ecigarettes and nicotine replacement products), it's likely the insurer will consider you a smoker and place you in a higher risk category.
You will still get a payout if you die, but your premiums will likely be more expensive in the time leading up to that.
* This is a fictional, but realistic, example.
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