I ’ Ve just take out an insurance policy . Are you insured ?   Yes , I am . I have life insurance and my home and its contents are also insured .   I took out a life insurance policy and make my wife beneficiary .   That ’ s a good idea . You are a fireman and it can be a dangerous job .   I need to make sure that my wife will be financially secure if I die .   I can terminate my life insurance policy when I retire and use the money as a pension .   That ’ s one of the conditions of my policy too . It covers you if you die before you retire and when you retire .   Did you have to take a medical before you could take out the policy ?   Yes , I did . It was one of the conditions of the insurance policy . The insurance company need to assess the risk . 