Gokonten.com–Life insurance is supposed to take care of your loved ones in case of unfortunate events happening to you such as serious injury and death. However, serious illness also happens, and medical treatments which tend to be expensive can also cause major disruptions in your life. Now, if you ask whether you can still get life insurance after a serious illness, the answer depends on many factors.
Time of Recovery
Insurance companies will first look at the time of recovery after your illness. If you apply for insurance within a few years of being diagnosed or declared clear of the illness, the risk of the illness returning within this time remains high. The more time that you are illness-free after your recovery, the greater your chances for getting insured. Life insurance companies may require you to undergo a medical examination before finally accepting you for a life insurance policy. You should coordinate closely with your doctor to receive up-to-date information about your health condition. You should be honest about your current health condition when asked by life insurance companies based on the information you receive from your doctor and what has been recorded in your medical records.
Severity of Condition
Some life insurance companies also consider the severity of your condition as being mild, moderate, or severe. If your serious illness is classified by your doctor as mild, you might qualify for standard rates for your insurance policy. If your condition is moderate, you’ll likely pay higher rates for your policy. However, if your condition is classified as severe, it may be difficult for you to get an insurance policy. If ever you can get approved to get life insurance, you may be required to pay a higher premium.
Refusal by Other Companies
In case you have been declined by a company, you can always try applying to other life insurance companies. You are not obliged to inform them that you have been declined before, but you should be honest to say so if asked. However, having been declined by one company should not be used as a reason by other companies to do the same.
In general, it helps that you make general inquiries first before actually applying for an insurance policy. Ask around and try looking for companies that are known to be lenient for aspiring life insurance policyholders who have experienced serious illness before. However, with a high risk of these policies, it may be inevitable for you to pay for higher premiums.