Life insurance isn’t what it used to be. It has evolved quickly, and not just in how it’s sold. The way providers assess risk, what counts against you, and even what products are available today has shifted. But while the industry has moved forward, many people still ask the same outdated questions when looking for cover.
Here are six questions that are far more relevant right now, especially if you’re navigating modern lifestyles, habits, and expectations.
1. Is cannabis use going to affect my application?
It used to be that any drug use meant instant rejection or sky-high premiums. These days, that’s not always the case. More insurers now make a clear distinction between recreational drug use and cannabis used either occasionally or medically. Some will still treat cannabis the same as tobacco and adjust rates accordingly. Others are more flexible and may not even consider occasional use a red flag, especially if it’s documented or prescribed.
If you’re using it under a medical programme, it’s essential to disclose that. Some insurers will want to know the underlying condition, how it’s managed, and whether there’s any broader health impact. That’s where it gets more nuanced. So, instead of asking whether cannabis is allowed or not, the better question to ask is which insurers allow cannabis use? How do they assess it? What information do they need from you upfront?
2. Are wearable devices and health apps changing how I’m assessed?
Yes, and not just in theory. Some providers have started offering incentives or discounts for sharing health data, especially from fitness trackers and apps. But this is still a new area with grey zones.
Some policies offer lower premiums for people with active lifestyles that can be verified digitally. That can include steps walked, heart rate data, or workout frequency. On the other hand, some consumers feel uneasy sharing that much personal data.
The real shift is in how insurers are beginning to see lifestyle as an evolving risk factor, not a fixed one. So instead of just assessing you once at application, they’re starting to build a more ongoing profile over time. You might get better rates now but could be reassessed later. For people who already live an active life, it could work in your favour. For others, it might feel intrusive.
This is definitely something to question before you sign anything.
3. What’s the deal with digital-only policies?
Digital policies are becoming more common. They’re fast, paperless, and often come with simple language and easy access through apps or online accounts. But there are trade-offs.
Some digital-first providers automate large parts of the application and claim process, which might sound appealing. But if you’ve got a complex medical history or unique needs, that automation might not work in your favour. There’s less room for nuance, less room for negotiation, and fewer real people involved.
On the flip side, they can offer lower premiums and faster decisions for people with straightforward needs. It’s really a matter of how much personalisation you require, and whether you’re comfortable not having a dedicated contact or adviser.
So while they’re growing in popularity, they’re not always the better option.
4. Will my mental health history be a problem?
This is one of the most important changes happening in the insurance space. There’s a much stronger push for fairer assessment of mental health disclosures. In the past, even mild conditions could lead to high premiums or exclusions. Now, there’s more understanding that mental health is both common and manageable, and the questions asked reflect that.
Instead of blanket exclusions, providers might look at:
- Diagnosis – what condition was diagnosed, and how long ago
- Treatment – whether you’ve had counselling, medication, or therapy
- Stability – how well-managed your mental health is over time
In some cases, especially where the issue was short-term or well treated, it may not impact your premiums at all. But if you’re currently in treatment or have a recent history of severe episodes, that may affect the outcome.
The key thing here is full disclosure. Insurers don’t expect perfect mental health, but they do expect honesty. Leaving out key details could lead to your cover being void later.
5. How often do policies actually pay out?
There’s a common fear that insurers will find any excuse not to pay. But payout rates have improved a lot. In many regions, life insurance policies now pay out over 95% of the time.
The reasons most claims are denied are usually simple:
- Non-disclosure – missing or false information during application
- Policy exclusions – things not covered, like certain illnesses or causes of death
- Lapsed cover – if payments stopped and the policy was inactive at time of death
It’s not about insurers being tricky, it’s about the applicant knowing what they’re signing and keeping it up to date.
So instead of assuming policies are unreliable, a better question is how clear and upfront the terms are from the beginning. That’s where advisers or specialists can really help.
6. Should I review my cover regularly?
Absolutely. People often treat life insurance as a one-time decision, but your needs change. What made sense five years ago might not make sense now.
Things that might prompt a review:
- You’ve had children or your family has grown
- Your mortgage or debts have changed
- You’ve taken on a new business or financial responsibility
- Your health has improved or declined
- You’ve started or ended a relationship
A simple check-in every couple of years can make sure your cover still matches your life. And it’s not just about increasing your cover. In some cases, you might be able to reduce premiums or adjust your policy to better fit your needs.
Don’t treat it as a once-and-done thing. Life changes, and your cover should keep up.
Make Your Policy Work for You
It’s not just about whether you have life insurance. What matters is whether it still fits the person you are today.
With cannabis laws shifting, digital policies gaining ground, and mental health finally being assessed more fairly, the way we think about life insurance needs a reset. Ask smarter questions, push for clarity, and don’t settle for a one-size-fits-all answer.
The best time to check your cover is when something in your life changes. But the second-best time? Right now.
