What’s the point of a medical?
Your premium is dependent on multiple factors – things like your overall health (hence all the nosey questions) and whether you or your family have any history of medical conditions (past or present).
Having a medical or getting hold of a doctor’s report allows your insurance provider to give you an accurate premium based on your individual circumstances and lifestyle. The insurance provider will usually foot the bill of a medical, it’ll be done somewhere that’s convenient to you, and it will be carried out by a doctor or nurse.
As a general rule, the healthier you are, the lower your premiums are likely to be, because there’s less chance of you knocking on those pearly gates any time soon. This is why it’s also worth noting that as your age increases, so too does the potential cost of your premium, so it’s worth taking out a policy when you’re young.
As tempting as it is to paint a glossy, airbrushed picture of you and your health, be honest when it comes to your life insurance. If you said you didn’t smoke and it comes to light that you get through 20 cigs a day, then you could invalidate your entire policy.