What Insurance (Seguros) Companies Look for Before Issuing Policy

 

Those adults who are within the fifty and eighty years of age may not be able to get good life or health insurance (seguros salud) policies or coverage. Especially where they are having some health or medical challenges, these people can go for no question-asked Guaranteed life indemnity or GLI policy.

The GLI gets its name ‘Guaranteed” from the fact that the life protection company will not bother but guarantee that so long you fall within the required or allowed age range; you will get a life safeguard or defense when you apply. This means that you will be accepted to become a policyholder. Even if you are outside this allowed age range, you can still get this kind of insurance (seguros) policy. The issue there is that you will not have many choices but limited options.

While it could be argued that the GLI will be unsuitable for old people, there are however certain conditions which might disqualify them from getting appropriate health indemnity or coverage during that time of their life. Some of these conditions will be stated below;

1.       If they have terminal sickness which cannot let them last for two to three years.

2.       They are in dire need of organ transplant or maybe they have already had one recently.

3.       They are on dialysis.

4.       They are suffering from Alzheimer or even dementia.

5.       They are in hospices or nursing homes.

6.       They are treating other types of cancer other than skin cancer.

7.       They are limited to the wheelchairs due to their having chronic diseases.

8.       People that have got HIV (Human immunodeficiency Virus) or AIDS (Acquired Immunodeficiency Syndrome).

Old people in any or more than one of these conditions will need Guaranteed life insurance (seguros vida) policy since they will be having good and bad days. It might look like they are about to give up at certain time. Only for them to survive the unfavorable condition. Old people who are not stable physically, mentally or even emotionally are the best people that can take Guaranteed life insurance (seguros vida) coverage. It is not every indemnity companies that offer this kind of life coverage as the risk looks to be very high.

Generally, every life protection coverage is dependent on so many factors including

a)      Age.

b)      Weight

c)       Height

d)      State of health

e)      Gender.

f)       Policy type.

g)      Death benefits

The underwriting rules and guidelines of different indemnities or life coverage are usually the same whether the policy type is universal, whole or term. So therefore, every life policy holder will always be in the same level of risk category.

But however, there are still some insurance (seguros) companies that might put certain policyholders into different risk categories. Example are those that are afflicted with chronic diseases such as diabetes. So GLI might also depend on the issuing company as well as state of health of the holder. Click here to know more about #seguros.