If you or members of your family have had any hereditary health conditions and you are seeking insurance quotes for life insurance or health insurance, then you might find that some insurers will impose terms or even decline life insurance for those with a family history of health issues.
When you apply for life insurance, apart from some over 50's life plans, most life insurance companies will ask you to complete a comprehensive 'fact find' form, as part of the application process. This will show any family medical history that might have an effect not only on your long-term health risks but also, allow the insurer to consider whether they should offer you standard or special terms for life insurance.
What types of family medical history might be hereditary?
With advances in medical science, it has become increasingly apparent that some diseases can have a hereditary effect, with certain genes being passed from parent to child, or even skipping a generation, from grandparent to grandchild.
Some diseases with a known hereditary effect include:
- Abdominal aortic aneurysm ('AAA')
- Arthritis
- Certain types of cancer
- Cystic fibrosis
- Dementia
- Diabetes
- Heart disease
- Hypertension
- Motor neurone disease
- Obesity
- Parkinson's disease
- Sickle cell disease
- Thyroid disorders
How can I tell if I have inherited a family medical condition?
Genetic counselling might be suggested by your GP, although this does not in itself mean that you are likely to develop an inherited disease or medical condition. Genetic testing might be recommended, as well as more frequent scans or testing for a particular disease.
Your chances of developing an inherited medical condition will depend on several factors, including whether the condition requires one or both of your parents to carry a particular genetic sequence.
How much does life insurance cost, if my family medical history is a factor?
There are many life insurance companies and each will have their own view on the significance or otherwise of an application for life insurance that indicates a family history that might have an impact on your future health. In particular, they are mainly concerned about your life expectancy and whether any family medical conditions might lead to what is considered to be a premature death.
If one or both of your parents died prematurely from recognised diseases, a life insurer might consider that this is likely to have an impact on your own life expectancy.
For this reason, the life insurance company might offer to cover you but for an increased monthly premium.
What factors affect the price of life insurance?
As well as your family's medical history, your life insurance premiums will depend upon a number of factors, as would any life or health-related insurance policy. These factors include:
Frequently asked questions
Will I need to have a medical for life insurance?
The majority of people who apply for life insurance are not required to have a medical, including those with a family medical history. While all life insurance applications are considered on their individual merits, if your life insurance application reveals a hereditary history that requires further investigation, you might be required to have a medical examination.
This procedure does not necessarily mean that your application for life insurance will be rejected.
It is also important, when completing the application form for life insurance, that you provide full details of any and all aspects of your health record. However minor the illness or condition, you should put details on the application form.
Any life insurance company looking to provide you with life insurance cover must decide whether or not you are an acceptable risk. If you or any members of your family have had a genetic disorder or there is a family history of a particular disease or medical condition, they will want to check on your general state of health before deciding what premiums to charge for the life insurance cover you require.
How do I get a quote for life insurance, if my family has a medical history?
When you click the 'GET A QUOTE' button, completing the online form will send your contact details to an independent financial advisor, who is authorised and regulated by the FCA. He will contact you by phone and/or email to discuss your application in more detail.
If you wish to proceed with an application forfamily history life insurance, he will guide you through the initial steps without cost or obligation.