APPLYING FOR LIFE INSURANCE

It is not uncommon for insurance providers to decline your life insurance cover application but this will happen with a proper reason. If your insurance application has been declined, do not give up yet because this does not mean that requests made to other providers will also be declined. Let’s take a look at why most insurers decline a life insurance application and what to do about it.

WHY WAS MY LIFE INSURANCE DECLINED?

Insurance terms vary from one insurance provider to the other, which implies that reasons for a life insurance decline will also be different across the market. Some of the most common reasons include;

Medical problem– This is the most common reason for life insurance get declined. There are some medical conditions that insurers perceive as high risk and if you are or have had a history of the same, your insurance provider may decline your request and ask that you come back later when the disease is fully treated.

Past time activities– insurers may decline an application if your favourite hobbies include a risk such as extreme sports

Asking for a large cover– Your life insurance cover can only be relative to your total earnings or source of income. If you asked for a hefty cover, the insurer might decline and request that you apply again.

WHAT CAN I DO IF MY LIFE INSURANCE HAS BEEN DECLINED?

The first action you should take after your life insurance request has been declined, is to give the insurance provider a call and learn why it was rejected. This information will help as you plan to make another application.

If you have been declined on medical grounds, you can consult other insurance providers to understand their policies on the same condition. Our insurance expert can help you compare policies from different providers to reduce the likelihood of being declined again.



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!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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