Myth – Your health issues mean you won’t qualify for life insurance
So you think because you have some health issues then you are not entitled to life Insurance?
Well you thought wrong! There is health insurance for people with health issues and healthy people. In fact there are lots of options available for all different kinds of people and their particular circumstances. Life Insurance comes in all shapes and sizes, one life insurance policy does not fit everything and everyone. There are many health issues that can effect and sometimes increase a life insurance premium.
Here are some examples:
We all know there are massive health implications and health issues caused by smoking. Life insurance premium can increase up to 50% more than a non-smoker. A smoker is considered a non-smoker 12 months after quitting. Stephan, a smoker and Amelia took out Dual Life Insurance for €200,000 at very little cost. Check out their story
Depending on the type of depression and its severity, it can increase the premium. In the case of mental health issues there is an increased risk of suicide or accident and this can have an impact on the cost of life insurance cover. Underwriters look at the facts and the triggers of the persons depression like bereavement, divorce, illness, redundancy or job and money worries, the prescribed medication and the state of mind. Where history is very severe insurance may not be offered but in lots of cases it is offered.
A spokesman for Zurich Ireland said the majority of applications that they receive for life cover with a history of depression are accepted with no extra loading.
When asked what impact a diagnosis of depression would make to the cost of an insurance policy, he explained: “This would depend on the individual assessment of the depression history and can vary on the basis of the type and severity of the depression, date of last symptoms, and other individual circumstances.”
There is a stipulation in all life insurance policies that specifies that all life insurance policies contain an exclusion for death, If a life assured dies within a year of the start date as a result of their own deliberate act, we will not pay you any benefit under the policy.
High Blood Pressure
Lots of people in Ireland suffer with high blood pressure and this can be a contributory factor to death and life threatening. However, you can easily manage you high blood pressure today. Your life insurance premium should not be effected by your high blood pressure.
People that suffer from high cholesterol and are managing it well will not be effected. You should report if you have high cholesterol, because high cholesterol can cause life threatening conditions.
Asthma is a condition that can be well managed easily. This means asthma should not effect life insurance premiums.
If you have any other health issues you can talk to us confidently and we will give you the best professional advice. Or you can complete our online quote and we can talk you through the quickest and best life insurance for you that will safeguard you and your families future. Get you personal quote now.