Guide: Fair Risk Assessment for Life Insurance

1 min read
May 3, 2023

Insurance helps you cope financially with unforeseen life events and gives you greater certainty about what happens when things go wrong.

When you apply for insurance, insurers need you to answer their questions truthfully and accurately in order for them to fairly assess your insurance risk and to offer you fairly-priced life insurance.

The availability, affordability and choice of insurance for everyone depends on insurers being able to make fair risk assessments, based on the information provided by the people they insure.

The purpose of fair risk assessment is to promote insurance cover to as many people as possible at the fairest possible price.

This information sheet explains what fair risk assessment is and how insurers apply fair risk assessment.

Download the full guide here.


This information sheet is intended as general information only and does not constitute legal advice. It is not intended to replace existing legislation, regulations, or regulatory guidelines. Whilst their legal accuracy (where referring to the legislation) has been confirmed, some aspects are open to individual interpretation. Any conflict should be construed in favour of the applicable legislative requirement, with further legal advice sought.

The FSC and its employees make no express or implied representations or give any warranties regarding these Guidelines, and we accept no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of any error, omission or misrepresentation in this information.