Inportant information about life insurance ?
Important Information to consider when applying for life insurance - You must make sure you answer any questions as honestly as possible as if subsequently you make a claim and the Insurance company finds any non disclosed information it could impact on the decision made by the Insurance company, there was new legislation introduced this year which should help customers if minor information was accidentally missed.
It is also important for customers to advise the Insurance companies if in between application and acceptance they have any change in their health that they inform the Insurance Company before the policy commences. It is also the responsibility of the customer to make regular monthly or possibly annual payments. We would also suggest you review you policy periodically because if your circumstances change it may be you should also change your policy to be more appropriate to your new current situation. Most insurance companies would like you to inform them if you move outside the UK just to make sure that the policy is still suitable.
If you have taken the cover to protect your mortgage most companies would like you to inform them if you change occupations or become unemployed or even retire. It is very important that you are aware that if you stop paying your premiums you might only be covered for one month after your last payment made. It is also important to inform the Insurance Company if you change your occupation in between application and the policy actually commencing.
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