Questions
Five, and the third one is the one nobody volunteers.
- How much cover do I actually need?
- Add the mortgage, other debts, the years of income a survivor would need, childcare if a partner would return to work, and education if you intend to fund it. Subtract savings and any cover you already hold — including through work, which usually ends when the job does. Most households land between eight and fifteen times income, and the answer is a calculation rather than a rule.
- Is whole life ever worth it?
- Sometimes, and not usually. It is genuinely the right instrument for a disabled dependant who will need care after you die, for certain estate situations, and occasionally inside a business agreement. It is the wrong instrument if somebody has described it to you as a savings plan or a tax-free retirement account. It also pays me several times what term does, which is exactly why I put that sentence on the front page.
- How are you paid?
- By the carrier, out of their budget, as a share of your first year's premium — typically 50% to 90% of twelve months, paid once, plus a small renewal for a couple of years. Your premium is identical whether you buy through me or direct; brokers are not a markup. The full figures, with an illustrative example, are on the commission page.
- What happens at the medical exam?
- A nurse comes to your house for about half an hour. Height, weight, blood pressure, a blood draw, and a urine sample. Fast beforehand if you can and do not have a heavy workout the day before. Below certain cover amounts some carriers skip it entirely, and I will tell you which ones before you apply.
- Can I get cover with a health condition?
- Usually yes, at a higher price, and which carrier you apply to matters enormously. Carriers underwrite the same condition very differently, and a decline from one is not a decline from all. If you have been declined before, tell me at the start — it changes where the application goes, and applying blind is how a second decline happens.
Every figure on this site is illustrative. A quotation depends on your age, health, and the carrier, and only exists once an application has been underwritten.