Taking out a life insurance policy is important if you want to make sure that your family is well looked after. If anything happens to you, your family will have the financial stability that they need. But if you have an existing health condition, it can be more difficult to get a good policy. Insurance companies will always weigh up the risks and if they think that it’s likely you will get ill, they may be cautious about giving you a policy.
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The good news is, you can still get life insurance even if you have an underlying condition. Here are a few ways to improve your chances of getting a good policy.
Look After Your Health
The healthier you are, the more likely you are to get a good health insurance policy. So, even though you have an underlying condition, it’s important that you prioritize your health and make sure that you have a healthy lifestyle. Eating well and exercising regularly will help you avoid other health issues. You will often be asked about your health when you are taking out a policy and if you can demonstrate that you are making an effort to stay in good shape, you will get a more favorable life insurance policy.
Find Companies That Offer No-Medical Policies
There are policies designed for people with underlying conditions, so you need to work with the right insurance companies. Check out PHP Agency reviews, for example, and explore their options for no-medical policies. These policies will usually still require you to give information about your medical history, but they are less stringent and you will be more likely to get a policy if you have an underlying condition.
Be Upfront About Your Condition
It might be tempting to withhold information about your medical condition when applying for a life insurance policy. People often assume that they will get a better policy and increase their chances of being accepted in the first place. However, if the insurance company finds out that you have been dishonest, your policy will be invalidated and your family will not receive a payout. In most cases, the insurance company will find out if you have an underlying health problem, so it’s always best to be upfront.
Apply At The Right Time
Applying at the right time is so important if you want to get a life insurance policy. If you have recently had complications to do with your health condition and you have been in hospital, your policy costs are likely to be higher and you may even be rejected. But if you apply at a time when your health has been good for a while, you drastically increase your chances of having your policy approved. If you have an underlying health condition, there is no perfect time to apply. However, you should choose the time carefully and avoid applying for life insurance when your health is particularly bad.
Applying for a life insurance policy is tricky when you have an existing health condition but if you follow these steps, you can give your family the financial protection they need.
