Are you having a disability and you fear that you will not get life insurance? Life insurance is there for everyone who wants it but the main challenge that we have is getting the company that offers the best life insurance. We also have life insurance over 60 and these are the old people in the society. On the other hand it depends on the cause of your disability because disability can take different forms including a physical injury, an illness or due to a mental condition. Another very important thing that the disabled need to note is that they should apply their life insurance with the right company and not just any company that offers life insurance services.
Reasons for disability
It is evident that the reason why you are disabled can make you to be approved for life insurance or denied. What you need to know is that disability cannot prevent you from getting life insurance but what can do so is the cause of your disability. A good examples is someone who has a lower back injury, such a person can easily be approved much faster and be given life insurance cover. Those who have mental disorders such as physical ailment and bipolarism do not easily get approved for life insurance because of their mental condition. We also have anxiety & depression life insurance that is offered to those suffering from anxiety and depression.
Why you may not be approved for life insurance
What you need to know is that companies have their own rules and regulations that they use to offer life insurance to people. There are some things that may deny you a chance to get approved and such things include drug and alcohol abuse, bad compliance with treatment, smoking habit and other medical conditions. A life insurance company can easily decline you if you are disabled due to severe depression, schizophrenia, OCD or other mental disorders. Cancer life insurance is also available but this is not offered in many companies but it is one of the emerging life insurance covers today.
How disability affects your premium
What you need to know is that there are different companies that offer life insurance services and they offer these services differently. Each company has its own way that it uses to measure the level of risk in the disability. They will evaluate your condition and know how your disability will affect you in terms of the overall health and the impacts that it will have on your life. There are other factors that these insurance companies take into consideration like your lifestyle, your income, and your health history. If your disability has an impact on your life expectancy it means that your premium may not be increased at all. It is also important to read the life insurance policies of various companies before going for a life insurance cover.
Last but not least, it is important to note there are two different levels of disabilities; there are those who are considered to be high risk and those that are considered to be low risk. Click here !