DiabeticsDiabetes patients have a hard time getting insurance. If your diabetes is not in control, it's very likely that the condition is irreversible. This also causes collateral damage to your body affecting your other body parts. Such health complications suggest that you are very likely to incur significant costs soon.
This makes your life insurance coverage a very high-risk profile for insurers. People with Type 1 diabetes are more likely to get rejected by insurers compared to people with Type 2 diabetes. As Type 1 diabetes is mostly irreversible, insurers decline the application. However, if your diabetes report for the last 6-12 months indicates that your diabetes has been in control, then chances of your application getting approved are very high
Chronic heart diseasesIf you are suffering from chronic cardiac ailments, insurers might not be able to provide you with insurance coverage. As most of the heart diseases are a grim threat to your overall health, insurance companies have categorized it as one of the high-risk profiles. In case, the tests that are done before the approval of the insurance policy, indicate that your heart condition is getting cured then you are likely to receive a positive response from your insurers.
Fatal occupational environmentIf you are in an occupation where your work entails activities that are hazardous to health or life-threatening, then insurance companies may deny life insurance. As the probabilities of accidental deaths are extremely high in such circumstances, insurance companies stray away.
AlcoholismAlcoholics whose liver functioning is noted very high are most probably denied insurance. Chronic alcoholism signifies high liver functioning. This indicates damage to the liver that is irreversible. Alcoholism is also responsible for many other health hazards. Hence, if medical examinations conducted before insurance indicates high liver functions due to alcohol consumption, insurers are very likely to reject such applications. Most life insurance providers mostly never reject applications. However, it is best advised to know about the various reasons that can potentially deny you an insurance cover.
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The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
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