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8 Things to consider To Pre-qualify & Take Advantage of Insurance Cover

The business world is filled with many loopholes and tricks that enable only the strong to survive. Due to this fact, reassurance is often a valuable thing to own. Today’s insurance industry is a billion-dollar business that thrives from this concept.

There are different categories of insurance such as car insurance, homeowner’s insurance, dental insurance, health insurance and more. We will take a deeper look into one of the newest forms of insurance, critical illness insurance.

Critical illness insurance or a dread disease policy is an established payment plan that is usually combined with life insurance that can provide a benefit or return of premium after the diagnosis of a chronic illness.

Why is It Important to Qualify for This Insurance Coverage?

  • A critical illness plan promotes health and longevity. Qualification for this form of insurance proves that you are healthy and more likely to live for a good amount of time.

This means that you are less of a liability to yourself and your insurance company. If you do not qualify then you are influenced to strive for a healthier lifestyle.

  • Insurance is also an indicator that you are financially stable and dependable.
  • It is also important to qualify for insurance coverage so that you can reap the benefits of your investment in the future. This is always a good practice for your financial ethics.

8 Things to Consider to Pre-qualify 

The first step to this pre-qualification process is filling out the application. This step is critical for estimating the liability of carrying your policy. It is important that you be completely honest when answering all of the questions on the application.

If the insurance company finds out you lied on the application, then they are liable to cancel your policy and take the premium. Please prepare your answers to the following questions, they can appear on the application.

  • What is your medical history? Are you healthy, and do you have any pre-existing diseases?
  • What is your family’s medical history? Are conditions like cancer and high blood pressure common through-out your family?
  • Do you regularly practice any bad habits? Smoking, drinking alcohol, and engaging in dangerous activities can cause your application’s denial or your insurance may be higher.
  • What are your weight, height, and blood pressure? The answers to these questions help the insurance company have a better idea of your health. Being overweight or having high blood pressure can trigger other serious diseases and shorten your life span.
  • Some insurance companies request information about your driving record. Dangerous practices like drinking while intoxicated and reckless driving is dangerous for yourself and others. Insurance companies will also consider this and raise your fees or deny your application.
  • Please also be prepared to have some form of physical examination. This may include anything from a treadmill test to an EKG.
  • Please also be prepared to take a urine sample. It varies whether they want the urine samples right away or later. It is wise to be ready and willing to give a urine sample at any time. This will help them to detect the usage of drugs like cocaine, heroin or marijuana.
  • Also, be prepared to make a wise decision about your choice in an insurance policy. Please select a policy that you can afford to pay for the entire policy time. If you miss payments, then the insurance company can take the premium as their own.

There are riders and more customized options that can be added to your insurance. That is why it is important to have a good grasp of this information in advance so that you can set up and execute a successful policy and receive a premium or benefit.

Please choose the insurance plan with the benefits and conditions for you to take advantage of and use to accommodate your specific needs.

Types of Benefits

  • Accelerated benefits are often an offer that provides a benefit after you are diagnosed and after death.
  • There are also graded benefits. Graded benefits allow you to receive benefits after a short period of time, for example, 2 years. Then you could also receive the full benefit after the entire policy period has ended.

Examples of Policy Time Periods

  • . There are 10 and 20-year renewable insurance policies that are convenient for shorter amounts of time.
  • There is level to age 75 and 100 policies that do not expire until you reach these ages so that you can be insured for a long period of time.
  • There are also quick pay policies that allow the insured to pay over a 10-year period and still have lifetime coverage after the payments are done.

There you have it. Please don’t hesitate to use this information as a valuable tool that will help you to choose the right insurance policy and become a winner in your life!


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