If you have pre-existing medical conditions, it can be not easy to get a life insurance policy. WE created this infographic to inform you about 4 strategies to find the best insurance for pre-existing medical conditions.
Strategy 1: Preliminary inquiry
Before submitting a life insurance application to an insurer, always ask your broker to send a preliminary inquiry to the underwriting department first. This will give you a good idea of their most likely underwriting decisions and help avoid troublesome declines.
Strategy #2: Application to multiple carriers
Submitting a few life insurance applications to multiple carriers can increase your chances of being approved with a low premium rating. When multiple companies are competing for your business, the odds are in your favor for a favorable decision.
Strategy #3: Cover letter
Ask your broker to write up a cover letter to accompany your application. This is a good place to explain your unique medical history and/or high risk activities fully in depth.
Strategy #4: Choose a broker who knows the trends
Make sure your broker is aware of changing insurance underwriting trends (e.g. related to e-cigarettes). Changes are always occurring in the underwriting field so staying in-the-know is key to a successful life insurance application.
Our insurance brokers work with more than 20 insurance companies in Canada and have extensive experience of helping those who need insurance with pre-existing medical conditions. Fill out the form in order to get your tailored insurance quote or simply find out more about insurance for your particular case.