25 questions you will be asked when applying for life insurance

life insurance questions

Insurance companies generate their life insurance policy proposals on the basis of the information provided by the subscriber, possibly supplemented by a medical examination. But do you know what kind of questions you will be asked when taking out life insurance?

Personal information

Personal information questions generally relate to:

1— Sex
2— Age
3— Place of residence, citizenship and country of birth
4— Type of work with job title and position seniority, plus name and address of the employer
5— Lifestyle, including smoking habits and consumption of alcohol or drugs
6— The practice of dangerous sports during recent years (scuba diving, racing motor vehicles, skydiving, hang-gliding, heliskiing, piloting …)
7— Upcoming trips outside Canada and the United States
8— A refusal of life or health insurance that you may have received in the past
9— A possible life insurance policy that you would have contracted at a rate higher than the standard rate
10— The objective of the insurance (for example for the purposes income replacement, preservation of an estate, last expenses, protection of a mortgage loan, or other)
11— The different types of offenses for which you have been accused or convicted in recent years: violation of traffic laws, withdrawal or suspension of a driver’s license, criminal offense, suspension or removal of the right to practice due to professional misconduct

Information about beneficiaries

The information requested about beneficiaries is generally as follows:

12— Their contact information and their link with the insured
13— Their status as revocable or irrevocable beneficiaries
14— The contact details and the link with the insured of the contingent beneficiaries

The health status of the insured

Depending on the insurer, the range of questions regarding the insured’s health status may vary, but the following information is usually requested:

15— The height and weight, questions about gaining or losing weight in the past year
16— The contact details of a physician and the clinic usually attended
17— The date and reason for the last consultation
18— The possible consultation of another professional during the previous year
19— Current and past treatments received from a doctor or a hospital with their contact information, the date of the treatments and the diseases treated
20— The drugs currently taken (names, doses, duration, reasons)
21— The medical history of parents, siblings, or even grandparents: the diseases that occurred, at what age, including diabetes mellitus, cancer, high blood pressure, colon polyps, heart disease, kidney disease, stroke, Huntington’s disease, hepatitis or Parkinson’s disease. You will also have a questionnaire to fill out regarding the troubles you suffer from or have suffered from for which you have been treated

Financial information

You will also have to provide financial information such as:

22— Your salaries, commissions and bonuses, your taxable income from other sources, your share of the net benefits or profits from your business
23— Your assets, including cash, real estate, stocks and bonds
24— Your liabilities, including the balance of your mortgage and other loans
25— If you have already declared bankruptcy on a personal or professional level

Documents to have on hand

Before completing your life insurance application, have the following documents on hand in order to provide the most accurate information possible:

  • Your medical prescriptions, hospitalization papers and medical certificates with the names of the diseases, processing dates, absence from work
  • Documents related to upcoming and scheduled trips
  • Your last notice of assessment

In addition to this information, the insurance company may ask to see a copy of your ID for verification.

All insurers calculate the risk and resulting premiums based on the subscriber’s claims. In some cases, they also ask for a medical examination. Be very careful when providing this information: an error or omission on your part could amount to fraud, and if you die, the company could refuse to pay compensation to your beneficiaries and simply refund the premiums you have paid.