The Effect of a Pre-Exsisting Condition on Getting Life Insurance

Having a proper life insurance is becoming increasingly important. When you have other people completely depending on you to support financially, having an arrangement to have them well taken care of if you are no longer there to provide for them is definitely a good thing to have. Despite all the perks of having a good life insurance policy, it is not that easily accessible for everyone, especially if you have a pre-existing health condition. A chronic illness can reduce your options for getting a good life insurance. However, you can still get a good quote for a decent life insurance plan if you are well prepared. Companies like Health IQ can help out here.

Knowing where you stand and what to expect can definitely make the process a whole lot easier. Things have changed when it comes to getting a life insurance. Companies can no longer deny your health insurance if you have a pre-existing health condition. Since the Affordable Care Act became a law, insurance companies can only offer people who they perceive as high risk higher insurance quotes. Life insurance, however, is different. Companies can either offer a very high quote or even deny applicants who they perceive as a high risk from getting insurance at all. After all, life insurance companies are here to make a profit. If they perceive an applicant to have a low life expectancy they will take a safer path to cut their potential loses.

Having a good knowledge of how your pre-existing health condition is perceived by life insurance companies can help you make smarter and more well-informed decisions that can help you get a life insurance plan with good coverage at a fair rate. There are many life insurance companies that can give you this type of plan despite your pre-existing condition however, you should be straightforward. To best know your options you can either do some extensive research or simply take a quiz such as this one offered by HealthIQ.com. The more you know the better are your chances of finding a good insurance plan.

 

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