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Indeed, life insurance is a extremely important financial matter that truly provides peace of mind. But, there are various issues that can severely hinder your chances for obtaining life insurance, which may be extremely frustrating and perplexing. In this piece, I will delve into the leading five causes why one might be informed they will not be able to obtain life insurance, and I will also discuss how I, as an insurance broker, have assisted individuals navigate these challenging circumstances.
Let’s start with health conditions.
Now, let’s talk about smoking and drug use.
Now, let’s chat about the risks your job might pose.
Let’s move on to financial history.
Let’s start with health conditions.
Having a few illnesses can be a big deal when it comes to getting life insurance. Long-term conditions, such as diabetes mellitus, cardiovascular disease, or malignant tumor, can make life insurance firms wary of providing protection.
But, if you’ve got the right documents and can show you’re handling your health well, I’ve been able to get protection for policies who already had illnesses. Like, I had a client with diabetes mellitus who got a life insurance policy because I helped them show the insurance folks how they were handling their diabetes mellitus.
Now, let’s talk about smoking and drug use.
Tobacco use and using drugs are also big causes why you might not be able to get life insurance. Life insurance firms see these behaviors as pretty probability of lossy and think they could lead to you passing away sooner than predicted.
As an insurance agent, I’ve helped people who’ve stop smoking or reduce drug use secure life insurance. One client, who had been a heavy smoker for years, was able to secure a policy after undergoing a nicotine test and demonstrating a commitment to quitting.
Now, let’s chat about the risks your job might pose.
If your job is really dangerous—like being a pilot, a firefighter, or a construction worker—it can make it difficult to secure life insurance. Insurance companies are worried about the risk of accidents and injuries in those kinds of jobs.
But, I’ve helped clients in high-risk jobs find life insurance that works for them. For instance, I helped a construction worker find insurance because I found a company that deals with risky jobs.
Let’s move on to financial history.
If you’ve got poor financial history—like bankruptcy or being late on payments—it can make getting insurance policy tough. Insurance providers look at your credit rating to see how risky it is to give you insurance.
I’ve helped clients get their financial matters together by giving them tips on improving their credit and getting insurance policy. I helped a client who’d recently gone bankrupt get insurance by helping him set up a new credit line and show he was handling his money responsibly.
Lastly, let’s talk about age.
Lastly, age plays a major role in determining eligibility for insurance. The older you get, the more likely you are to have health problems or die, which makes it harder to get insurance.
But, I’ve worked with clients of all ages to find the right insurance policy for them. I helped a client in their 80s get insurance by finding a provider for the elderly.
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