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Q - If I do not get a favourable option from one company, what, if anything, can be done?
A - We represent numerous leading insurance companies, each with their own perspective when evaluating applications.
We applied for a $3million face value policy for a client and 3 insurance companies gave us 3 different offers:
Company A: Declined the Application
Company B: Made an offer with a 200% extra premium
Company C: Made an offer with the applied premium
In a number of instances, we have had 2 insurers refuse to offer coverage to a client, and a third company makes an offer.
Q - If one company declines me coverage or give me a modified contract, will every company do the same?
A - Over the years we hear things like “an agent told me if company A does not give me coverage, no one will.” Most of the time this is false. In one case, we secured a $5million policy for a client whose doctor told him he would never get insured due to his weight
Q - When should I apply for Critical Illness Insurance?
A - As early as you can. The probability of developing a critical illness increases with age, which means an increase in premiums. Getting insured as soon as possible means a more affordable premium and a better chance of getting insured.
Q - Why should I get disability insurance?
A - In the case of an injury or illness that prevents you from working, disability insurance ensures that you can still earn a paycheck and protect your loved one. You insure your car and your house which are two of your most valuable assets…..so why wouldn’t you insure your income.