Getting Life Insurance

Health insurance has become a need for every person in India all thanks to growing medical inflation. In this article, we will throw light on how to go about buying a health insurance and claiming process. Gone are the days when we had to fix an appointment with the agent and spent hours in buying health insurance and understanding its claim process. Today thanks to the internet revolution and smartphones, buying of health insurance can be done on your fingertips. Surprised! Today all the major insurance players, be it government or private companies have a presence online. With growing awareness more and more people are using online channel with great convenience as it also offers discounts on policies when purchased online. 1. A Pre-Existing Condition You may have a medical condition that you think will exclude you from coverage. If you have a terminal disease, this will almost always be true. For other conditions that can still result in a long life, many insurers will still extend coverage at higher rates. As long as you fully disclose the condition and the medical treatment you receive for it, you may be able to get life insurance. For larger policies, underwriters often rely on their own lab tests and an inspection of existing medical records to make sure you are otherwise healthy. 2. Obesity Obesity will almost always increase your premiums, but in most cases it won't exclude you from coverage. Obesity is a potential underlying factor in many illnesses, such as high blood pressure and diabetes. For that reason, you will be seen as a greater risk than someone who is within their recommended weight for height guidelines. To save money on your insurance policy, try to lose some of the weight before applying for coverage. Ask your insurance agent ahead of time at what weight the premiums change so that you have a goal to shoot for. You also may be able to get your insurance company to re-underwrite your policy after the first year if you lose a significant amount of weight after your policy origination. (To help you determine how much life insurance you need, read How Much Life Insurance Should You Carry?)