“For better or for worse, for richer or for poorer, in sickness and in health, while we both shall live”. Delightful words indeed, which are not just your beautiful wedding vows, but also your silent insurance vows. Like everyone else, you too, need insurance. It could be health insurance, life insurance, property insurance or just a different type of insurance altogether.
Now, if you are rummaging through the profusion of agencies that are on the market, searching for the one that best suits your needs is crucial. Apart from that, a few minor considerations should be taken into account. This must include the main consideration, which is getting approved by an agency.
Here are a few tips that can help you improve your chances.
Choosing the right insurance agency
First of all, you should start things by picking out the right agency. The market offers many and they each have their own specific features and offerings. Naturally, this task will demand that you make all the appropriate considerations as you carefully choose your insurance agency.
History and reputation
The agency’s history and reputation are each a testament to the quality you should be expecting to receive. The things you will want to look at are how long they have been in business, the areas in which they sell their product, their values, and their mission. Once you are finished, you will want to check their reputation by reading online reviews and asking about them in your area. All these considerations will help you make the right decision.
“What does the insurance cover?” is surely a question you will want to ask yourself. You will measure the type of coverage and packages they provide against your needs.
The price you will be getting will more often than not reflect the type of coverage your carrier is offering. Nevertheless, you will want to give pricing some thought and make sure that you will be able to pay for it. Sometimes, a lower price may mean you receive less, while at other times, this may not be the case. So, do your homework thoroughly, as you might find a discount being offered somewhere.
Once you have made your considerations, only one thing is left to do. You will want to take a look at the agency’s ease of doing business. This will mostly include accessibility. Seeing as how we are in 2020, it only makes sense to choose an agency that offers online services. Naturally, an antiquated manner of doing business will say a lot about a company and hopefully, have you stay clear from it.
Improve your chances of getting approved
Now that you have picked out your agency, you will have to make some small considerations, which will improve your chances of getting approved.
Never apply while receiving treatment
Though it is the exception rather than the rule, insurance companies will less likely have you get approved if they find out that you are being treated for a medical condition at the time. For this reason, you must always make sure that you are cleared by your doctor before applying for insurance. This applies to both severe and minor conditions of treatment. The reason insurance companies will do this is because of the high-risk associated and it is especially applicable to life insurance. The insurance wizards at Simple Life Insure explain that high-risk life insurance has retained almost 85% of U.S. adults at a standard rate, which may be bumped down to more expensive rates. The 5 main factors that define high risk in underwriting will include health, family history, tobacco use, dangerous occupation or hobbies as well as other lifestyle factors.
A recurring health issue, such as high blood pressure, asthma or anxiety, will have you written with 85% of adults. And though you will get approved, you will almost certainly be unable to benefit from the other, superior rates.
Only give them what they ask for
Sometimes, dealing with insurance companies can be very tricky. Though, you must always remain tactful and employ more shrewdness. Never has an insurance application been accused of coming out short, this is because insurers will always ask you for the information they need. So, when the insurance interrogator is “grilling” you, only supply them with facts and not assumed conditions. This means you should not bring up the carpal tunnel a fellow colleague had suggested you have, just because of the hand cramps you have been getting after a long day at work of typing reports and performing other hand exercises.
Plan in advance
People that plan in advance have never been accused of negligence. Though planning ahead seems to be the rational and intelligent thing to do, people seldom actually take the time to do so. The larger part of your plan will be built on the premise that you should “never apply while receiving treatment”. Applying for insurance well in advance before facing a sickness that requires treatment is the safe thing to do. It protects you in the long run when you have insurance that can kick in whenever you need it.
Just wait. If you had just been released from treatment, then look to wait a while. The longer, the better. There are specific time requirements, which you may want to look into before insurance companies will consider someone that has just recently been released from treatment. For instance, serious conditions such as cancer can have up to a 10-year waiting period. Conditions that are less severe carry a smaller waiting time, which can be as little as 3 years.
Improving your chances of getting approved may seem like a tiring bid. However, once you familiarize yourself with each of these tips, you will find that they are worth the extra effort. As long as you have picked out the agency that best suits your needs and have applied the strategy of improving your chances of getting approved, you really will not have much to worry about. And remember, 85% of U.S. adults are given a standard rate, so do not be disappointed if you join the masses.