Axis Capital Group  Insurance

Reasons Why Your Life Insurance May be Declined

Life Insurance is already considered a necessity nowadays. But if you think everybody can just avail of it, you just might get surprised if you get declined. Before you file any complaints, there are actually various reasons why you fail in inquiring a life insurance.

Axis Capital, with a group of insurance and reinsurance companies in Bermuda, Singapore, Australia, United Kingdom and the United States, has rounded up some of the main reasons why most insurance companies do not permit you to have a life insurance:

1. Overweight or obesity

Insurance companies are strict when it comes to health complication especially cardiovascular-related ones since there is a higher risk involved. Your weight to height ratio is a strong indication of your overall health and fitness level. We all know that most obese have heart and lung issues.

Although there are some insurance companies do not specifically decline overweight clients, the premium cost may be higher than the usual coverage. If obesity also comes with other complications, it is highly likely that it can get declined.

2. Income Limitation

Life insurance can be expensive and insurance companies also consider the capacity of the individual to pay his coverage. In other companies, it is a method of cost containment. Restriction and certain income limit are set since low income levels can result to issuing of large number of small policies that produce reduce premium flows. Another reason that lower income can impede your approval is that the insurance companies have to justify the policy.

3. Alcoholism

According to policy review, this isn't about casual drinking, but more about a positive alcohol marker indicated when liver functions are high. The combination of damage to health that occurs from alcoholism, as well as the potential for engaging in life-threatening activity is enough for many life insurance companies to issue a denial. It is best to postpone your life insurance application until you cease drinking.

4. Hazardous Occupation

Some occupations carry a higher degree of danger than others. This can make life insurance companies reluctant to approve policies if you are working in an occupation that is considered particularly hazardous. In Jakarta, Indonesia, construction workers find it hard to get insurance even when it is company-availed.

5. Drug Use

Though marijuana is slowly gaining acceptance as a medicine, most life insurance recognize the abuse of this drug even after it has been legalized. Confirmed use of drugs is an automatic decline when you apply for a life insurance.

Travelling Health Insurance

Travelling or working abroad is a wonderful experience which everyone should have at one point in their lives and while accidents may happen, proper preparation can prevent them from causing an undue medical, unending complaints or financial burden. By ensuring you are properly covered by travel or international health insurance you can spend more time enjoying your life and travels and less time worried about the costs of unexpected accidents and illnesses.

Axis Capital, with a group of insurance and reinsurance companies based in Bermuda and have branches in more than ten states in the US, Europe, Australia and Singapore is offering a travelling health insurance which can help you whether you are an expatriate or a traveler. Accidents happen even in the face of safety plans and precautions, and as a foreigner, getting medical attention can come at a high cost. You’ll be lucky to get proper care and insurance coverage in cities like Bangkok, Thailand, Jakarta, Indonesia or Kuala Lumpur, Malaysia when the policies there are reportedly too lose.

Most people who plan ahead opt for some kind of medical insurance. Depending on the length of time abroad, some people choose a travel health insurance plan, one that is designed specifically for travel, and some choose an international health insurance plan, one that is designed specifically for extended periods of stay.

Moving on to international health insurance, this option is generally selected by expatriates, or travelers who are on the road for longer than a year. International health insurance has many benefits and is highly customizable in both coverage and price.

International health insurance can ensure that you are able to receive medical attention all over the world. Whether you are in London or in Tokyo, you are covered for any medical needs that may arise. In addition, if you wish to travel elsewhere to receive your treatment, all it takes is booking a ticket. Make sure to review your options, though, to insure your travel.

With medical policies with international reach, you can often opt to have specific countries or regions excluded from the areas of coverage. This may drastically reduce the cost of your premium because international health plans take into account your coverage area while calculating the premium amount. Areas like the United States have some of the highest costs of health care in the world, thus making your premiums higher as well. In addition to excluding specific countries, you can opt for having a deductible or co-insurance.

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