Does anyone know any Life products that have an automatic acceptance cover? I don't want to fill out and medical declarations.
Life Insurance
- Thread starter twobobsworth
- Start date
2Bob...I maybe misunderstanding you? but our Termlife insurance doesn't require any medical assessment(s); whereas our 24 hour income insurance does, (both racing licenced)...
Our termlife is with several companies, actually mine is with Commonwealth Bank, would have to go back through paperwork and files for partners.
Is that what you mean?
We receive termlife insurance info in mail all the time.....mainly through finance institutions, but we have adequate enough now, plus we insure our IP's with OAMPS brokers, they find nice insurance deals...maybe you could chat to an Insurance Broker?
Our termlife is with several companies, actually mine is with Commonwealth Bank, would have to go back through paperwork and files for partners.
Is that what you mean?
We receive termlife insurance info in mail all the time.....mainly through finance institutions, but we have adequate enough now, plus we insure our IP's with OAMPS brokers, they find nice insurance deals...maybe you could chat to an Insurance Broker?
I'm finding on most applications there is still a medical declaration you need to tick if you have any pre-existing illnesses or past medical conditions. This is something I want to avoid.
When I started with my current employer the super fund provided automatic insurance cover up to a couple of $100K. So i'm chasing something similar.
When I started with my current employer the super fund provided automatic insurance cover up to a couple of $100K. So i'm chasing something similar.
twobobs....
none that ive come across.
if you think about it logically, its like asking to insure a car, without advising what the car is. or a house, without advising what type/address etc.
life insurance is premium rated on various factors, one of which is medical history. so it only makes sense that they actually ask.
obviously if you lie in application stages, insurers have every right to deny claims.
why the reasoning anyway?? they dont use or make available any records/insurance applications for any other reason. no other company has access to etc, so wouldnt think it should be a big concern.
none that ive come across.
if you think about it logically, its like asking to insure a car, without advising what the car is. or a house, without advising what type/address etc.
life insurance is premium rated on various factors, one of which is medical history. so it only makes sense that they actually ask.
obviously if you lie in application stages, insurers have every right to deny claims.
why the reasoning anyway?? they dont use or make available any records/insurance applications for any other reason. no other company has access to etc, so wouldnt think it should be a big concern.
I do have some past issue's that will either require a loading on the premium, deny insurance or exclude any death relating from that illness from the policy. If they do any of that it will impact any future policies I wish to start as there is always the question, "have you ever been denied or had a loading applied to any insurance policy."
Agreed Ricardo.
2BW....we just went through this rigmorale for Life insurance....and 95% of the forms we filled out were either medical history and/or current medical status.
They go through your blood with a fine tooth comb for every swinging disease known to man, and check out every little blip and nook and cranny in the heartbeat signature. This is all documented and signed off by yourself, every step of the way.....all evidence gathered for the ins. co's solicitors to hopefully one day be able to shoot your claim down and avoid any payment.
To avoid these two areas, and still expect coverage is a bit ambitious. Have a crack and see how you go. I like to hear people go up against solicitors and win....especially Insurance company solicitors.
Good luck of course, but I don't think any company will take on the blind unknown risk - period, let alone at the normal premium rate.
2BW....we just went through this rigmorale for Life insurance....and 95% of the forms we filled out were either medical history and/or current medical status.
They go through your blood with a fine tooth comb for every swinging disease known to man, and check out every little blip and nook and cranny in the heartbeat signature. This is all documented and signed off by yourself, every step of the way.....all evidence gathered for the ins. co's solicitors to hopefully one day be able to shoot your claim down and avoid any payment.
To avoid these two areas, and still expect coverage is a bit ambitious. Have a crack and see how you go. I like to hear people go up against solicitors and win....especially Insurance company solicitors.
Good luck of course, but I don't think any company will take on the blind unknown risk - period, let alone at the normal premium rate.
I have access to a policy that doesn't require any medicals. A few questions are asked about your health (smoker/non smoker) but that's about it.
As I'm not a licenced financial planner I can only offer this product within certain parameters, but most people can qualify for it without any problems at all.
As I'm not a licenced financial planner I can only offer this product within certain parameters, but most people can qualify for it without any problems at all.
