Mr Philip – A case study

Mr Phillip was the only earning member of his family. His family comprised of two toddlers, his wife and his ailing parents. For a few years, his weight was increasing continuously and presently he was not able to do the tedious job at the office due to his health issues.

He visited the doctor. There it was found that he was recorded with a tremendous high BMI (Body Mass Index) of 4 7. So he thought of getting an income protection cover from the life insurance company. A friend of him after knowing all advised him to seek the help of a good insurance advisor, Mr Hanks.

He has his firm. He and his team of experts went for the thorough research in the market regarding the facts that how much amount of money his client could get as an income cover and what amount of premium he has to pay to get the insurance. He researched the various leading insurance companies and started making a comprehensive analysis.

Then he chose the best insurance company that offered the best to his client. After that, Mr Hanks asked to get the required documents ready in hand like, the age proof, the company where he was employed along with designation, the medical reports, the BMI reports, proofs that he is the only earner in his family etcetera.

Then the insurer needs to ponder over the loading issue. The higher the BMI the more will be the loading percentage. Means, if a person is obese, he needs to pay 50% more premium. It has been observed that this loading percentage exceeds from 50% to 200%.

Most of the insuring agents do not disclose the loading percentage. And in the end, the insurer gets immensely shocked and upset. But Mr Hanks is very honest with his work and so before applying the insurance for income protection he made everything clear to Mr Phillip and that is how Mr Phillip secured his family.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
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