Each insurance application is assessed based on a person’s insurability, i.e. their age, medical profile, lifestyle and occupation. Your risk level increases as you age, reducing your insurability. The higher the risk you pose to the insurer, the higher the premiums you pay.

Some people may be asked to pay more for their insurance coverage (usually referred to as loading) or in some cases, the insurance company may consider a person to be uninsurable. It is for these reasons that we advise you to buy insurance when you’re young and healthy.

The right plan depends on your financial objectives and also your affordability. You can select plans that provide protection; protection and savings or opt for investment-linked insurance plans (ILP). Apart from offering protection, ILP policies let you choose how much you want to invest in stocks and shares, based on your preference.