Rejected For Life Insurance Five Reason

Health condition is not the only reason insurance companies reject a person's application for life insurance coverage. This article will mention 5 top reasons for anyone getting rejected for a life insurance policy, aside from health conditions. After learning about these reasons, you can come up with a plan to eradicate the reason and get an insurance policy easily, with the help of Cheapest Life Insurance. The site can provide policy seekers with instant life insurance quotes from top rated insurance companies in the U.S.

1. 'Extreme' Activities

Most insurance companies will be reluctant to insure anyone who participates in dangerous activities. For example, if you like to go cave diving or paragliding, you will either have a hard time finding a company that will insure you and when you do find one, you will have to pay high premiums. Some professions can also turn you into a 'life insurance pariah', like active military personnel have difficulty finding a supplementary life insurance policy. But there are some companies that do provide insurance for such individuals.

2. Finances

Insurance companies require a financial justification from the insurance seeker, before their policy can be approved. If a person does not fulfill this requirement, then they will reject the policy request. A person can only be covered for 10 to 30 times their annual income; if you apply for an insurance coverage of a higher amount than that, you will likely be rejected.

3. Bankruptcy

A person who has filed for bankruptcy will usually be rejected if they apply for a life insurance policy during the proceedings. They have to wait at least 12 months after the process is over and if they are making regular payments of the debt, only then can they be approved for a life insurance policy.

4. DUI Charge

You know how people say that a DUI charge will follow you everywhere you go? This is evident in the case of life insurance policies. If a person has more than 2 DUI charges in a 10 year period, most insurance companies will deny them and a person that has more than 3 will be denied by every company.

5. Criminal Record

A past conviction can be a huge damper in your life insurance policy application. Rejection because of a criminal record does depend on several factors though; the type of offence you were convicted for and when were you convicted. People with criminal records involving multiple felonies will likely be rejected by most insurance companies.

These are the most common reasons for people to get rejected for a life insurance policy. After you have solved your issues, you can visit Cheapest Life Insurance and get free quotes for cheap life insurance policies and select the appropriate policy.

Important Two Reason Get Long Term Healthcare Insurance

Likes to think about the time when we may feel so helpless and be dependent on others for care, and so the idea of purchasing long term healthcare insurance, especially when that time seems so far away, is something that is very easy to let slip to the bottom of our inbox.  But there are some very good reasons to begin thinking about this sooner than later.

Health Care Costs

Right now, the monthly median price for an Assisted Living Facility is about $3300.  But this is actually relatively low compared to other options.  The median monthly price for a semi-private to private nursing home is from $5900 to $7000. When you recognize that the median monthly income for a US family in 2012 was only $4170, it is crystal clear that having assistance for paying for these costs is critical.

In 2013, the median hourly rate of a home health aide was $19/hour.  However, the daily pricing for a private nursing home in 2013 is $230.  And these prices are median.  For yourself, you probably want something a bit more than "average"; you are likely concerned about getting the very best healthcare possible.  So making a choice in insurance that will enable high-quality care becomes important.

Family Burden

You likely place a high value on being able to have at least a degree of independence.  And after spending so much time and effort raising your children to be independent, self-sufficient adults, the idea of putting a large burden on them is almost certainly abhorrent to you.  But look at the costs noted above.  The simple fact of the matter is that the costs are so high, that what very often happens is that family members themselves have to adjust their lives dramatically to provide care for a family member, relative, or friend.  

As a matter of fact, right now 1 in 6 Americans are doing this.  Of these, 70 percent suffer work-related difficulties related to care giving, 5% turned down a promotion, 4 percent retired early, and 6 percent gave work up altogether.

It is certainly commendable when family members come together to help each other out when one is having a healthcare challenge.  This is all-too-often neglected, and many are too quick to simply "throw someone in a home."  But it must be admitted that there are times when skilled help is needed, and making sure that we have the financial resources that insurance provides.