Tips for Receiving Adequate Life Insurance at an Affordable Price
[social_share]Life insurance which provides adequate cover can be elusive to obtain, and if found, can be very expensive. Below are some tips for anyone who is interested in receiving adequate life insurance at an affordable price.
To receive adequate, affordable life insurance, notify the family doctor
Speaking to one’s doctor prior to applying for a life insurance policy can produce extra benefits that may translate into future savings. Family doctors know their patients’ medical situations much more intimately than anyone else and so they are able to best ascertain whether an individual patient has progressed to the point that they are considered healthy again or if they still have lingering health concerns. If someone who is interested in buying a life insurance plan fails to speak with their personal physician beforehand, the life insurance company may contact their doctor and proceed to ask a raft of questions that the doctor has no choice but to answer negatively. This, in turn, can result in either higher premiums for the policyholder or an outright rejection of their application. To avoid this waste of time and energy, not to mention the frustration of being denied coverage or having to pay higher premiums, anyone interested in taking out life insurance should always first talk to their doctor to get their opinion on the patient’s state of fitness.
To receive adequate, affordable life insurance, choose the right time to apply
In a similar vein, certain people might be better off postponing their application for coverage until their health has improved. This applies especially to any individual who has undergone treatment for a terminal disease, had surgery in the last 6 to 12 months leading up to their application or is recovering from a moderate to serious injury or accident. A period of waiting may be needed because it will help the insurance company know that the individual is in remission or on the mend and that they show no further signs of relapse or complications, either of which pose a risk to the life insurance provider that the policyholder could pass away sooner than expected and result in a financial loss. To be sure, individuals who have battled with disease or injury in recent years may still receive life insurance coverage, but they will most likely do so with higher premiums and fewer amenities attached. If they want to save as much as they can while being able to afford as much cover as possible, delaying their application may be in order.
To receive adequate, affordable life insurance, find a favourable lender
Not all life insurance lenders operate according to the same standards. Some providers will refuse to cover any person who has undergone extensive treatment for illness or disease within the last five years. Other providers, however, are more than willing to extend protection to applicants who have been in remission for the past 12 months. There are other lenders who may approve the same individual for a policy but with higher premiums and less peripheral coverage attached. In short, there is a wealth of life insurance firms whose policies can differ wildly and who offer a broad range of acceptability to a very diverse pool of needy clients. It takes dedication on the part of the would-be policyholder to weed through the life insurance companies which are not best for them until they find their perfect fit.
