Is life insurance only for healthy people?

When most people think about life insurance, they often associate it with the young and healthy. It’s easy to see why – insurance companies typically offer the best rates to those in prime health. However, the notion that life insurance is only for the healthy is a common misconception that can have serious consequences for those who delay finding the right policy for them.

Can you obtain cover with pre-existing medical conditions?

Many believe that having a pre-existing condition disqualifies them from life insurance, but this isn’t true. While it’s correct that certain conditions can lead to higher premiums, many insurance providers offer policies specifically tailored for individuals with health issues. Some companies specialize in high-risk applicants, making life insurance accessible to a broader range of people.

Should I wait until my health improves to secure cover?

Waiting until you are healthier or until your condition improves might sound like a good strategy, but it can backfire. Life insurance premiums increase with age, and delaying coverage could result in paying more over time. Furthermore, if your health condition worsens, it could make it even more challenging to secure a policy, especially an affordable one.

What happens if my health condition is too severe to obtain cover?

For those with significant health challenges, there are insurance products designed to meet their needs. Whilst a typical life insurance may be unavailable to you, there are insurances out there that aim to provide a level of coverage to those with impaired health, without the need for medical information. While these policies may come with higher premiums or lower coverage amounts, they still offer valuable protection.

In conclusion, life insurance is not just for the healthy; it’s for everyone. With a wide range of cover available, no matter your health status, there’s likely a policy that can provide the protection and peace of mind for you and your loved ones.