insurance life insurance sebanda insurance life insurance policies purchasing life insurance health insuranceHow To Know The Requirements To Acquire Life Insurance?

Purchasing life insurance policies is one of the easiest ways to get protection against the unexpected, both for you and your family. However, a considerable part of people still do not decide on this coverage.

The truth is that, in addition to the lower or higher cost that a policy may represent, many choose to leave the service aside, when in doubt whether they qualify for the insurance.

Since the rumors around the subject are varied, in this article we will explain easily and quickly the questions to qualify for life insurance. What conditions could cause an insurer to reject it or charge you more, as well as the false myths that surround this matter?

What Requirements Do You Need To Qualify For Life Insurance?

Qualifying for life insurance is a process that may include tests, interviews, and reviews of different aspects related to you.

That being said, the process might seem complicated or laborious, but it’s not. You will only need a little patience to evaluate the options that seem most convenient for you, and a good insurance agency if you want to make everything even simpler and faster. 

The requirements that are commonly requested have to do with:

1. Your age: it is usually an essential component to set insurance prices because the younger you are, the cheaper coverage you can get. 

2. Gender: various studies show that in the US, women have a longer life expectancy than men, which means less risk of death.   

3. Health status and family medical history: involves medical conditions that increase or do not increase the risk of death within a certain period, the regular consumption of any medication, etc.

4. Lifestyle: includes information on extreme sports and high-risk activities or professions.

5. Consumption of tobacco and other drugs: you must declare if you are a smoker or regularly consume alcohol and other addictive substances that endanger your health.  

6. Other basic information: These can be the number of members in your household if you have children, your income, and credit history, your driving history, and if you have other insurance.

With this information at hand, the company determines the risks that insurance represents for it, as well as the maximum compensation that you can request or the price of your policy premiums.l

The ideal candidate to qualify for good life insurance (Health Insurance) would be a woman between the ages of 25 and 30, healthy, a non-smoker, with a quiet job and impeccable credit. But the mold can be broken, as there are policies designed for almost all types of users. 

Do you want to know what options exist for this type of case? At Sebanda Insurance, we have created the ideal policies for each of your needs. Contact us now! And learn more about our life policies.

What Do You Need To Do During The

Qualify For Life Insurance?

Answering honestly everything the insurance company asks of you is paramount, this would put you one step closer to qualifying for a life policy. 

Who Can Not Qualify For A Life Policy?

Some conditions keep you from qualifying for life insurance if they imply a high probability of death for you; since that would also mean a high probability of payment of compensation by the company to its beneficiaries.

What Are The Circumstances That Would Make It More Difficult For You To Purchase Life Insurance?

Being Over 65 Years Old 

Most insurers set a maximum age limit for taking out life insurance, and that is usually 65 years. It may even be difficult for you to find a policy if you’re already over 60. Advancing age reduces your coverage options or limits them to specific products, such as a fixed-term, low-principle contract.  

Having Certain Diseases

This is the reason companies can require a medical exam among the requirements to apply for life insurance. Some conditions increase the chances of death and, with it, the insurance risks for the company. If you have a chronic or critical illness at the time you apply for coverage, the company may turn you down.

Practice A High-Risk Profession

Life insurance for risk professionals is extremely difficult to obtain. Your job could kill you at any time, and that’s a risk insurers prefer to avoid. Among the ten deadliest professions and trades in America are fish workers, pilots and flight engineers, roofers, industrial iron and steelworkers, professional drivers, and electricians.  

These circumstances could put you at a disadvantage when it comes to qualifying for a life policy. But that doesn’t mean you can’t apply for coverage in any way. There will always be companies willing to negotiate the terms of your insurance, with a higher cost or some protection exclusions.

How To Know Which People Qualify For Life Insurance?

Once the information about you is obtained, the insurer assesses the risks involved in offering you the coverage and decides whether to accept or reject it.

But since not everyone is the ideal candidate, companies also tailor their products to certain groups of people.

This means, for example, that a company can deny you life insurance because you are 65 years of age or older; but there will be others that accept it under certain conditions or that offer a contract specifically designed for people over 70 years of age.

Some of the best insurance companies in Florida always have a positive response for applicants. They will establish terms to protect themselves against the risks they will assume, such as coverage exclusions or premium overpricing. But they will protect applicants, which is, in principle, what they seek.

An elderly person, a sick person, or a worker in a risky profession could pay more for their life insurance. But the protection will act for the rest of the events that could happen to these people. And in those cases, their families will be able to count on financial help to move on.

So, what do you have to do if you don’t qualify for the life policy at first? Be patient, explore, and compare the offers that suit your needs. Don’t let bad information set you off. If you require personalized advice, do not hesitate to contact our agents. 

Related Article: Hiring Health Insurance: Everything You Need To Know

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