Life Insurance: How to Prepare for a Health Check

Before you can get life insurance, you will need to have a health check. Admittedly, this might sound a little scary, but in the majority of cases you will only have to answer a few questions. This article helps you understand what questions you will be asked and why insurers need this information – so you know how to prepare.

Life insurance without a health check?

Since 2010, it is no longer possible to get life insurance without first having a health check. The reason for this is to keep premiums lower for the customer. Without a health check, insurers cannot be certain of the risk involved – which means they would be forced to increase the price of insurance. If you are a young and healthy person, the health check actually works in your favour. But even if you have had some health problems in the past, there’s no need to worry; most questions only have a small influence on your insurance premium.

Advantages for family starters

Young parents have an advantage when purchasing life insurance. Not only are the prices generally lower for younger people, but many insurers offer a simplified health check for new mothers and fathers. This is because, statistically, young parents carry less risk than adults without children. The simplified health check makes it quicker and easier to get insurance. You will only be asked a few basic questions, such as your height and weight, whether you have any dangerous hobbies, whether you suffer from any chronic illnesses, and whether you have been off work for four consecutive weeks or longer due to health issues. However, the simplified check does come with some limitations:

• You and your partner must be younger than 40 years old
• Your baby must be no older than 6 months old at the insurance policy’s start date
• The length of the contract is usually limited to around 25 years
• The insured sum is also limited, typically to a maximum of €75,000

What questions will you be asked?

Most health checks only involve a series of questions related to your lifestyle and health. The most common questions are your height and weight, hobbies, your job, and any health conditions you have had in the last 10 years. You will also be asked if you smoke. For most insurers, you count as a smoker if you have smoked cigarettes, cigarillos, cigars, pipes or e-cigarettes in the past 12 months. If you start smoking after your contract begins, you should inform your insurer as soon as possible. Most insurers will be able to switch you to a separate tariff for smokers, which will cost a bit more, but still protect you.

Here are some examples of typical questions:

• Have you been treated for any of the following illnesses in the past five years?
• Do you regularly take any medication? If so, what kind?
• Do you take part in any dangerous hobbies, such as diving, climbing or extreme sports?

You should be very careful of unclear wording. Let’s use the examples above. Do you know whether the insurer counts skiing or snowboarding as an “extreme sport”? Has the insurer given you a clear definition of what they mean by “regularly”? We recommend speaking to a consultant as a first step – they will be able to clarify these uncertainties.

Which factors affect your premium?

Life insurers are mostly interested in chronic illnesses or health conditions with lasting effects. High blood pressure, diabetes and chronic bronchitis are just a few examples of conditions that will increase your monthly premium. But other factors, such as extreme sports, dangerous jobs or depression will also have an influence. Less serious conditions, such as migraines, hayfever or food intolerance usually have no effect on the premium. Some conditions will require follow-up questions. For example, if you have had an injury in the last ten years, you will be asked how long you stayed in hospital for, whether there were any complications, and whether there are any lasting effects.

Understandably, remembering your entire medical history can be difficult. We recommend contacting the doctors and clinics that you have visited and asking for your patient records. That way, you don’t have to worry about accidentally missing something out that could be important later. And that brings us to our final point...

Honesty is the best policy

We know: it might be tempting to try to save a bit of money by pretending you don’t smoke. However, this is always a bad idea. In case of a claim, insurers will not pay out if you did not give honest and complete answers to the question in your health check. So to make sure your surviving relatives are not left empty-handed, you should always answer truthfully. Please note: The questions vary from insurer to insurer. It’s important that you fully understand each question before answering. Reach out to your insurer or doctor if you aren’t sure how to answer (especially if German isn’t your first language).

Want more information about life insurance for families? Check out the other articles in this Milestone or arrange a free consultation.