How to Get Life Insurance When You Have an Underlying Health Condition

Fri, 09 Oct 2009
People mistakenly presume that should they be suffering from underlying health problems, they will not be able to get life insurance or will be offered cover at a price they cannot afford.

The medical and financial sectors have changed in such a way that this is no longer so.

Hence, this is an ideal time for individuals with health issues to consider buying life insurance and indeed critical illness cover .

Great mprovements have been made in the diagnosis and treatment of chronic conditions in recent years.

This has considerably improved survival rates, making life expectancy longer for those with health problems which is something that is of course highly acceptable for insurers.

Many illnesses like diabetes, asthma and heart disease used to be reasons which once led to an applicant being automatically declined. However, nowadays each person is considered on a case by case basis and underwriters look at aspects in far more detail.

Due to the uncertainty globally, the life insurance market and critical illness cover market have become much more competitive, which means that premiums have come down a lot. Anyone with health problems will still very likely have their premium rated, however, with such competitive pricing, life assurance has all of a sudden become much more affordable.

This is so much the case, that it is an excellent idea for anyone who has a life insurance policy which is more than a year old to consider reviewing it and seeing how their existing cover compares with what is presently available.

In general, the most competitive prices are often to be obtained from independent insurance brokers who search the entire market for you to obtain the most amount of cover for the longest term possible at the lowest monthly cost to yourself.

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