Archive for July, 2011

Four Ways to Get Your Life Insurance policy Approved

July 23rd, 2011 No comments

Many people will get their life insurance policy application denied for various reasons. Here are some tips to improve your chances of getting a life insurance without any hassles.

First of all, applying for life insurance will normally result in having a health examination unlike a mortgage life insurance. The policies that do not need a health examination will not provide a good return in comparison. There will be a number of questions you need to answer as a part of the application process.

Starting health insurance at a younger age will result in radically lower premiums. If that is not the situation for you, getting through the hurdles to meet the requirements will take a little extra effort. Here is a guide to getting better results and presenting yourself to the insurance provider in the best possible way.

  • Tell the truth.Answering honestly to any of the questions on the application form is important. At the same time, remember you do not need to provide any information that you are not asked for. Failing to provide correct information will probably cause your policy to be made redundant. Insurance companies often only look into the details of an application form after a claim has been made. That could mean you lose many years of your investment.
  • Only the truth.Some people will be tempted to tell the insurance company more information that was requested out of fear of not doing what is required. You only need to answer the questions you are asked. You only need to fulfil those answers in enough detail to meet the requirement of the answer. Do not answer in any more detail than is required, and do not give out any information if it is not asked of you.
  • Health and other history.Being honest about your medical and other history is important. At the same time, you may have some history that has only been recorded in another country. For example, you may have had a period of diagnosed depression in another country. Consider whether you really need to disclose that history. If it is highly unlikely, or near impossible for anyone to discover that information about you, it might well be in your interest not to expose yourself.
  • Health exam preparation.If you are preparing for health insurance, and you are of an older age, preparing for it probably a good idea. Just because you have decided to cover yourself does not mean you need to apply and have your medical exam right away. A good three months of exercise and healthier living will improve your health exam results dramatically, for example. Our bodies respond very fast to the way they are treated. Changing your lifestyle and getting yourself in better condition before your exam, will greatly improve the terms of your policy. Examine the elements of the health check, and look at what lifestyle changes will most impact your results.

Insurance does give you more than peace of mind. It will provide a resource in the worst of situations. It is at those times that most people are extremely happy about making the decisions and investments they did. Buying insurance based on priority, or at least having less of it rather than none, to match your financial conditions, is the best strategy. A perfect example is with income protection insurance. It is probably more likely you will lose your job, business and income in our modern world, than something killing you. Balance the resources you have.