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If you’re healthy, get examined

There are any decisions you need to make when considering the purchase of life insurance. There are many policies which insurance companies offer and one such policy is known as a guaranteed issue policy. This type of insurance requires little if any investigation into the person’s health. They obviously will ask some questions including your age and whether or not you currently smoke or have been a smoker in the past. But the name of the policy suggests that the applicant, unless there are exceptional circumstances, is guaranteed to receive the policy.

Now think about this situation. The insurance company is not conducting a thorough investigation into the current, the past or even the applicant’s family medical history. The insurance company is always taking a risk but in this case is taking a greater risk. To compensate for this added risk, the insurance company bumps up the premiums. A person taking a guaranteed issue life insurance policy is paying more, sometimes much more, then someone who has been subjected to a rigorous medical examination.

So here you are thinking about taking out some life insurance cover and the two most important things to you are getting the right policy and paying the lowest premium. The idea of a guaranteed issue policy appeals because you don’t have to traipse off to your doctor and undergo a thorough medical examination. You fill in the application form, and this can even be done online, get approval, start paying the premiums and hey presto you’re covered. But this is where the title of this article comes into being.

If you are a healthy person, if you regularly have a check-up and have a good report, you should avoid a guaranteed issue life insurance policy like the plague. Take advantage of the fact that you are healthy. This will mean you will need to undergo a medical examination and answer a variety of questions regarding your current health and any past medical conditions. But, as you’ve already had regular medical check-ups and passed with flying colours, there is no reason why you cannot continue to pass with flying colours with any medical examination for your new insurance policy. Because you’ll pass with flying colours the premiums you pay will be considerably less than those if you requested a guaranteed issue policy.

In other words, build on your healthy record. Take the time and the trouble to have the blood tests and complete the questionnaire and visit a GP for a medical assessment. Being healthy, the insurer regards you as an excellent risk and so charges you a much lower premium and you save money. You see, being healthy has lots of benefits.

So what is private health insurance? To find out more click on the link.

 

 

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