life assurance when you arent a standard risk

coffeemonster20

I wonder what other people's experiences have been in obtaining Life Assurance? I am over 50, over weight and have raised blood pressure (although well controlled by medication). Recently I considered arranging Life Assurance and contacted my Bank as a starting point. I have a Royalties Gold account so I thought there might be some advantageous rate!
It all started so well, the projected online premium for my cover was £52 a month, but because I have the pre-disclosed health issues I needed to phone up. I was slightly taken aback when the starting price for the premium, even before the health questions had risen to £82 a month, especially when the rationale was administration costs. £30 extra a month for 18 years seemed a little excessive for the sheer joy of having a third party in Scotland as a lot of personal questions. But I soldiered on as £82 per month seemed an OK rate to secure my wife's future if anything should happen to me.
I provided the details requested and with the exception of my weight and controlled blood pressure I was able to answer all the other questions in the negative. Never smoked, hardly drink, always been active and no personal or family health problems. Several days went by and I received notification that they didn't need to ask my Doctor for a report and were please to confirm my premium at £185 per month. No I feel ill!!!
Needless to say I have cancelled it, but I wondered if other mature people have had similar experiences?

VIGILANT22

The premium reflects the risk..........

pimento

I have an inherited kidney disease and my premiums are loaded for everything even travel insurance. I was once quoted £90 odd quid a month for life insurance and that was about 20 years ago.
It's a pain, but I'm glad I have been diagnosed because apparently, there's a lot of people who also have the disease and the first they know about it is when they have a stroke!

dunstonh

Recently I considered arranging Life Assurance and contacted my Bank as a starting point. I have a Royalties Gold account so I thought there might be some advantageous rate!

Banks are the most expensive distribution channel and the type of account you hold has no reflection on the price of life assurance.

I was slightly taken aback when the starting price for the premium, even before the health questions had risen to £82 a month, especially when the rationale was administration costs.

Its not administration. You get rated as you are higher risk. Initially by £30 and then to £185 once full details known.

Needless to say I have cancelled it, but I wondered if other mature people have had similar experiences?

About 1/3rd of that £185 is because you are using a bank. The rest is because you are older and a higher risk to the insurance company.

Its a problem when you leave life assurance until you are older and more expensive to insure.