Medical Conditions Can No Longer Leave You Short Of Cover
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Understanding the reasons behind a refusal to provide life insurance cover can be difficult. After all, insurance companies are in the business for making money. Each individual carries a certain amount of risk. The greater the risk associated with the proposer, the higher the premium. Life insurance companies rely on a lot of data and statistics. They use these to ascertain whether to provide insurance cover to an individual or not. A fair number of people remain associated with normal levels of risk. Hence, they fall into the category of being safe propositions. Certain individuals carry a larger proportion of risk. This could be because of their occupation, which keeps them exposed to a greater degree of risk. It could be because of their smoking or drinking habits. It could also be because of various other reasons. Depending on the individual circumstances, underwriters advise the insurance company on accepting or declining the proposal.

One of the main principles behind life insurance remains the “Principle of Utmost Good Faith”. This principle denotes that the insurance company accepts the risk and provides insurance cover to an individual based on the details filled in on the proposal form. This principle requires that the insurer and the proposer hide no material facts from each other. In other words, the onus lies on the individual seeking insurance to provide accurate information on the proposal form. Based on the information provided, the insurer decides on whether accepting or declining the proposal is worthwhile. One of the sections of the proposal form entails providing information on pre-existing medical conditions of the insured. For many people, this section poses several problems. While some people suffering from various ailments get coverage from the insurance company, others are not as lucky. In particular, certain illnesses like coronary diseases, depression, melanoma etc. can be the cause behind a refusal to provide cover.

For over sixty years, the principals of Special Risk Managers (Sydney, NSW) have earned a growing reputation in the field of life insurance. Our expertise and experience gives us an unparalleled edge over many others in the domain. You might find several agents and brokers who can provide life insurance to most individuals. However, for most people suffering from serious medical conditions, we offer the only hope of getting life insurance. You cannot miss the concern that insurance companies deny cover to people who need life insurance the most. It also remains matter of grave irony. On account of the difficulties associated with getting insurance for such people, Special Risk Managers took on the challenge. Our sole aim remains that of obtaining life insurance cover to people suffering from serious medical conditions. Hence, we tied up with an international reinsurance company. This exclusive arrangement enables us to provide hope and succour to people classified as being uninsurable.

Life insurance companies have a list of diseases or medical conditions they do not insure. These range from Angina to Alzheimer’s; from colitis to melanoma and from stroke to epilepsy. Of these, the most common causes for rejection include:

• Angina: Chest pain, when linked to the heart and its functions, denotes a condition of angina. Angina can be of three types i.e. stable, unstable and variant. Overworking of the heart, which results in a regular and predictable pattern of chest pains denotes stable angina. The pains last for a few minutes and medicines can provide quick relief. Unstable angina attacks do not follow a pattern. Even worse, they indicate that a heart attack could be just around the corner. Cases of variant angina are rare and mostly occur at rest. Not all chest pains indicate an angina attack. However, life insurance companies seldom provide angina life insurance to people diagnosed with this condition.

• Bipolar Affective Disorder: Bipolar life insurance could be hard to obtain. A manic-depressive illness of the mind, life insurance companies seldom provided bipolar life insurance to the afflicted a decade or so ago. Today, however, the progress in medication and treatment enables many afflicted individuals to receive life insurance without any worries.

• Bowel Conditions: Conditions like Crohn’s Disease, Colitis and Ulcerative Colitis make it difficult to buy bowel life insurance. Insurance companies consider whether the individual has shown any symptoms of Crohn’s Disease over the previous twelve months. If yes, then they reject the risk or accept it with a higher premium. If the individual showed symptoms of affliction over a year ago, the insurer provides the cover at the normal rates. Similarly, insurance companies provide bowel life insurance for colitis based on the severity and on how recently the individual exhibited symptoms of the ailment.

• Coronary Heart Disease: This disease results in the complete or partial blockage of blood to the heart. Fatty build-up in the walls of the coronary arteries remains the leading cause of this disease. Life insurers usually refrain from providing coronary life insurance as this condition often results in heart attacks.

• Depression: Life insurance companies provide depression life insurance only after going through a careful examination of all the facts. Depression remains highly treatable even in the severest of cases. However, since insurers want to reduce the risks associated with those suffering from depression as much as possible, it could be a reason for rejection too.

• Melanoma: A particularly serious type of skin cancer, melanoma usually occurs on the skin. Occasionally, it can occur in the eyes too. It starts affecting skin cells called melanocytes that make melanin. Melanin gives the skin its colour. It also protects the skin from the ultraviolet rays of the sun. However, prolonged exposure to these ultraviolet rays, atypical moles etc, can result in melanoma. Since this is quite severe, insurance companies can refuse to provide melanoma life insurance.

Regardless of the condition you might suffer from, Special Risk Managers believe that we can obtain insurance coverage for you. We deal directly with the individuals and occasionally work in tandem with financial advisors to provide our clients with life insurance. May diseases that had no cure years ago, are inherently curable today. Similarly, several cases that insurers refused to provide cover to, can obtain the protective cover of insurance today. Why not call us at 1300 66 53 56 and allow us to alleviate your insecurity? With our expertise and assurance, you could benefit from our support and the cover provided by your new life insurance policy

Angus Leonard writes articles about life insurances and for more information about the services offered visit Specialriskmanagers.


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