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Life Insurance

Preparing for a Life Insurance Medical Exam (Part-2)

by alliedbrokers11 days ago

Preparing for a life insurance medical examination is not cheating – that is almost impossible to do and usually illegal. What you can do is to have your health information ready and use the few days before the exam to reduce the bad effects your lifestyle may have had on your health. Here’s how to prepare for the day:

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  • Paperwork: Have all your paperwork ready. That includes your medical history and a list of your current and former doctors with their contact information.
  • Habits and health status: Have your answers ready. You will be asked about your current health status, any therapies you are undergoing or medications you are taking, any food or vitamin supplements you are using and why, and so on. You will also be asked about habits like smoking, drinking, use of narcotics etc. There is no point in trying to hide facts, it is better to be honest about any negative factors that may affect your health.
  • Dangerous activities: You will also be asked about any activities tha
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Preparing for a Life Insurance Medical Exam (Part-1)

One of the biggest questions people face when buying life insurance is how much coverage they can afford. Everyone wants the maximum indeed, because the policy beneficiaries can live in security and comfort after the policyholder passes away. The issue, however, is not that simple – of seeing how much a family can afford to spend on insurance premiums month after month.

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How much you pay for life insurance is dependent on a number of factors. Besides your age, a major consideration is your health. The reason is simple: insurance is a business and the healthier you are, the longer you are likely to live and that means you will be able to pay more premiums. That is more income to the insurance company and so the amount of each premium can be reduced.

Insurance is a very competitive industry: every company wants to attract as many customers as it can, and low premiums are the best way to do it. However, the business cannot run at a loss: a company, therefore, looks at the total amou

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Isn’t it about Time you reviewed your Life Insurance Policy?

Life insurance may appear to be a simple matter – you pay premiums and if the ‘inevitable’ happens during the validity of the policy, the beneficiaries you have nominated will receive a lump sum payout. However, there is more to it than that. The reason for the policy is to ensure that those who are dependent on you do not suffer financially after the demise, which in itself is great suffering.

Your circumstances, as well as those of your beneficiaries, are not static – they change with time; if your life insurance policy is not modified to suit changing needs, it may not serve its purpose of providing for your dependents in the manner you want. That’s why periodic reviews of your life insurance are important and the beginning of the year is a good time to do it.

 

 

When to modify

 

Any change in your life could require a modification of your insurance. When you were single you might not have needed life insurance; however, everything changes when you get married. Similarly, w

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