May 2, 2017
Before you pass away, you will want to ensure that you have put measures in place to guarantee that you have protected your loved ones financially. That’s why life insurance, otherwise known as life cover and life assurance, can prevent your family hitting financial trouble.
With life insurance, you choose the amount of cover you will need, how long you need if for and pay your premiums monthly or annually, making it completely personal to you! In return, your family will have the reassurance they need, knowing that if you die while covered by the policy, they would receive a cash sum pay out if a valid claim were made.
However, claiming for life insurance can be made more difficult if you have suffered from a serious illness or are predisposed to a condition.
While you may still be able to get life insurance, it all depends on the insurance provider. There will be certain factors that the insurance company will take into consideration, such as the type of illness you had and the likelihood of it returning in addition to how long into your recovery period you are.
For example, an individual in remission from cancer will be unlikely to receive a policy in the first two to three years after illness. They may have been given the all clear, however the risk of an illness returning during this time is still quite high – meaning the more time that elapses after recovery, the more possibility of getting insured.
If you are an individual applying for protection after an illness, insurance companies may require you to undergo a medical examination before accepting your policy. You must be honest about your health with your insurer as they could access your medical records in the future and refuse to pay out if you are found to have given false information.
Getting life insurance can be confusing, especially once you have had a serious illness or suffer from a predisposed condition. That’s why Bespoke Support Network is here to help! BSN’s team of expert advisors will be on hand to support and guide your through the policy finding process, making it easier to find life insurance.
To find out more information about Bespoke Support Network’s services, call 0300 303 3441.