Your age and the length of the policy
Age is the biggest single factor. An insurer covering a 30 year old for 25 years expects to pay out less often than one covering a 55 year old for the same period, and prices reflect that. Once you take out a policy with a guaranteed premium, the price is fixed at your age on the start date, so starting earlier locks in a lower rate.
The length of the term matters too. A policy that runs until you are 70 covers more of the years when health problems become common, so it costs more than one ending at 60. Matching the term to a real need, such as your mortgage or the years until your children are grown, keeps you from paying for cover you no longer want.
Health, weight and family history
Your application asks about your medical history, current treatment, height and weight. Conditions that are well managed often make little or no difference. Others may lead to a higher premium, an exclusion or a request for more information from your GP. Each insurer weighs conditions in its own way, which is why prices can differ so much between them.
Some insurers also ask about close relatives who developed certain illnesses before a set age. A family history does not mean you will be turned down. It gives the underwriter a fuller picture, and the effect on your price depends on the condition and how many relatives it affected.
Smoking and vaping
Smokers pay more for life insurance, and most UK insurers treat vaping, nicotine patches and gum in the same way as cigarettes. The usual test is whether you have used any nicotine product in the past twelve months. Occasional use counts, so answer honestly even if you only smoke at parties.
Quitting brings good news on price. Once you have gone a full year without nicotine, you can ask your insurer about moving to non-smoker rates, or apply for a new policy at those rates. Lying about smoking to get a lower price can put a future claim at risk.
Your job and your hobbies
Most office and professional jobs carry no extra cost. Work that involves heights, heavy machinery, offshore travel or the armed forces can lead to a loading, depending on your duties. The insurer is interested in what you do day to day, so describe your tasks clearly instead of relying on a job title.
Hobbies such as scuba diving, mountaineering, motor racing and private flying can affect the price or lead to an exclusion for that activity. Travel to certain countries may also be asked about. None of this stops you living your life. It simply means the insurer wants to know so the policy covers you properly.
The choices you make when setting up cover
Some price factors sit in your hands. A larger sum assured costs more. Decreasing cover, which falls in line with a repayment mortgage, costs less than level cover that stays the same. Adding critical illness cover raises the price because it pays out in more situations.
You can also choose between a guaranteed premium, fixed for the whole term, and a reviewable one that starts lower but can rise at set review points. A joint policy for a couple can cost less than two single policies, although it usually pays out only once.
- Amount of cover and length of term
- Level, decreasing or increasing cover
- Guaranteed or reviewable premiums
- Single or joint policy
- Life cover alone or with critical illness added
How Hi Tomorrow keeps the price fair for you
We compare the insurers on our panel and know which ones tend to view particular health conditions, jobs and hobbies more kindly. That knowledge helps us point your application at the insurers most likely to offer standard terms. We also check whether a different structure, like part decreasing and part level cover, would trim the cost without leaving gaps.
Our advice is free, and we never push you towards cover you do not need. Every price is subject to the insurer's underwriting, so we explain clearly if anything in your application might change the figure you were first shown.