How To Qualify for Life Insurance after a Major Illness?
If you’ve been diagnosed with a major illness, you may wonder if you will still qualify for life insurance. Buying high risk life insurance after a major illness is possible; you may even be able to get coverage at a reasonable price.
The good news is that with better treatments used for serious illness treatments, qualifying for high risk life insurance is a bit easier. Life insurance providers are now aware that the treatments for common illnesses are effective; thus the reason for their high approval rates. In fact, there is a huge increase in the number of people whose application for life insurance is approved, despite their medical condition.
The increasing number of survivors for serious illnesses, such as cancer and heart disease, is also one of the reasons why most insurance providers do not view certain medical conditions as barriers to gaining their approval. More and more people are responding to modern treatments, which in turn lowers the risk for insurance providers. With these things in mind, it is safe to assume that you will qualify for life insurance even after you have been diagnosed with a critical illness.
How to Buy Life Insurance After a Major Illness?
- Prove that your condition is stable: You should also try to improve your lifestyle and eating choices. Practice a healthier lifestyle to show your insurance provider that you are on your way towards fully recovering from your condition. Buying life insurance after a major illness also involves proving the stability of your health by showing proof of your regular visits to your doctor, as well as your commitment to follow your treatment plan.
- Stop smoking: If you have a critical illness, then it is necessary for you to stop smoking. Aside from improving your health, staying away from cigarettes and tobacco products will also lower your life insurance costs.
- Stay fit: Eat right and shed your excess weight. Note that most insurance providers require physical examinations and routine checkups. If you are unhealthy, then your rates will most likely go up.
- Schedule your physical examinations and tests early: There are studies that show that physical examinations and tests conducted early in the morning result with better cholesterol levels and lower blood pressure. These results will reflect on your current health status, thereby rendering your life insurance application more likely to be approved.
- Review life insurance rates: Make sure that you constantly monitor the rates of life insurance coverage. If possible, do a review every three to five years. You also need to update your policy regularly so that it continues to reflect changes in your health and status.
Which Factors Influence Life Insurance Rates after a Major Illness
- Type and severity of the illness
- How long have you been diagnosed of the condition
- Stability of your health
- Your treatment plan
- Smoking habits
- Age and gender
- Body mass index and current weight
- Family history
- Cholesterol levels
- Blood pressure
- Stress test results
When your chosen insurance provider starts to examine the mentioned factors, it is advisable to think of ways to produce favorable results. This will ensure that your insurance policy will be approved. If you are still unsure about what you should do to qualify for life insurance after a major illness, give us a call.