The Life Insurance Review
Where Life Insurance is Talked About
Alcoholism and your Insurance
Oct 10th
Being an alcoholic or even being a moderate drinker has implications which could affect your insurance cover or the amount you would have to pay comparable to being obese. Any factor that can contribute to deteriorating health can either disallow your ability to get insurance or have you pay premiums at higher prices. Medical records that show several visits to a medical facility due to alcohol related injuries or injuries that have been brought about by alcohol dependence would be a point against you during your application for insurance cover. Alcohol use and abuse, is attributed to be a precursor for heart disease, liver problems and other illnesses which can ultimately end in death thus labels you as a high-risk individual.
The Medical Examination Process
Sep 10th
This is part of the insurance process for most providers, especially for those who are trying to avail coverage of more than a million dollars. This is to assure that the insurance company is getting a fair deal which is why people are told to allow total disclosure as possible for any hidden medical condition can lead to rescission or render the policy void. This is avoided by thorough investigation of medical records from your family to your past ones and even the slightest hint of a risk for the insurance will be ticked as a point against you. Too many points against you and you do not get approved so do work with the insurance and enlist the help of your agent to avoid future problems for your loved ones.
Writing the policy in trust
May 10th
Many are not aware of a strategy when it comes to life insurance policy that simplifies the claim process. Experts advise people to write their policies in trust which if not offered can be requested along with further information. An insurance policy in trust has the proceeds of the insurance policy proceed directly to the named beneficiary without having to wait for the tedious process of court orders and other formalities associated with claims of this type. The money that comes in the form of the money paid by the insurance company falls outside of that person’s estate which leaves it void of the deductions and other costs of inheritance taxes.
What is Long-Term Health Insurance?
Aug 22nd
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Many people believes that long-term care provides the assistance you greatly need to achieve dealings of daily living—such as bathing and dressing yourself. Or, you may need supervision because of dementia or another form of cognitive injury. In addition to this custodial care, some people also require expert nursing services due to severe illness.
You can acquire long-term care in a nursing home, assisted living capacity, or in your own home. The need for long-term care can occur at any time, in spite of your age. Older citizens use the most longterm care, but younger and middle-aged people seldom need long-term care as well. You may need long-term care because of a chronic illness or disability that leaves you incapable to care for yourself for an extensive period of time.
Long-term care is usually not covered by health insurance except in a very limited way whether the person is inside a nursing home, assisted living facility or even at their own home.