What determines the cost of your whole life Policy

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There are several rating factors used in determining the cost of a whole life policy. With the exception of funeral plans and single premium investment bonds, most whole of life policies are subject to a medical underwriting process.

The policyholder will complete an application form detailing their personal details,

  • age,
  • current state of health,
  • medical history,
  • occupation,
  • hazardous pursuits and
  • Lifestyle.

An underwriter may also request completion of a medical questionnaire, a medical report from the applicant’s GP or a medical examination. Alternatively, a tele-underwriting interview may take place.

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