High risk life insurance ↝ Life insurance

Financial stress: 5 steps to build mental resilience.

Financial worries can be a significant cause of stress but taking proactive steps will help you cope. In these uncertain times, elements of our financial lives are beyond our control. That can lead to feelings of anxiety and helplessness. However, there are proactive steps you can take to help build mental resilience and cope more effectively with financial worries. Here are five tips to help you deal with financial uncertainty. 1. Actively manage your stress levels It’s important to remember that our reactions to negative events can be as damaging as the events themselves. Stress-related reactions can include poor concentration, irritability, anxiety, insomnia, reduced productivity and...

What rating categories do companies give policyholders?, Protective

Five ratings life insurers give policyholders - explained When you apply for a life insurance policy, there are a lot of factors that determine what rating you will be given. This article will help you better understand the basic risk ratings that life insurance companies use to categorize policyholders. When you begin the underwriting process, the company will review medical, non-medical and financial risk factors from your life insurance application and medical exam results, if required. You could be asked to take a blood test, and some life insurance companies conduct phone interviews to gain more insight into your family health history or to ask you additional questions. Once this...

Six factors that could impact your health insurance premiums

Each insurance company could take into account different parameters while underwriting which could also have a bearing on premiums. Photo: iStock Six factors that could impact your health insurance premiums 5 min read . Updated: 19 Jun 2020, 02:26 PM IST Disha Sanghvi Your age, gender and even the body mass index could affect the premium you pay for your health insurance policy If you’re still uninsured and finally want to take the plunge, understand that health insurance premiums could vary due to a host of factors such as age, your geographical location, pre-existing diseases, and the sum insured you opt for, among others. Also, each insurance company could take into account different...

Impaired Life Insurance » iam, INSURED

Impaired Life Insurance The facts about getting impaired life insurance Impaired life insurance includes any person who may not be able to make a standard application due to medical conditions, hazardous occupations or high-risk hobbies. As these factors could lead to a reduced life expectancy, insurers view them as higher risk. Impaired life insurance rates and terms will vary depending on your risk factors, but most will have an increase in premium or special terms like ‘exclusions’. Any application for impaired life insurance will require you to provide further details of your risk factors such as your medical history, working conditions or hobbies. What does Impaired life insurance...

No cover, no refunds: thousands of 'high risk' policyholders' life and illness policies cancelled

Thousands of people who took out life and illness policies, some as far back as a decade ago, will be left with no cover at the end of the month - and no premium refunds - in the wake of the sudden cancellation of their policies. The policies - Prime LivingLegacy and Prime Living CoverGrow - were sold by Prime Meridian Direct and underwritten by short-term insurer Constantia. The former was sold as an “accident and health” policy to 2,771 people between September 2010 and December 2016, and the latter to 2,445 people between January 2015 and May 2018. The first those policyholders knew about the unilateral policy cancellations was in the last week of February when they received an SMS...

Frontline employees at high risk of burnout and other mental health challenges , Employee Benefit News

Frontline employees at high risk of burnout and other mental health challenges Georgia Brewer has been a registered nurse for the last 20 years, but working on the frontlines during the coronavirus pandemic is one of her hardest — and most mentally challenging — assignments. “The fear of contracting this virus while at work doesn’t go away,” Brewer, a nurse with Ready Responders, an at home care provider, says. “We do the best we can to protect ourselves with the proper PPE, but one tiny slip could mean the difference.” Brewer says her passion for helping others started when she was a little girl, helping her mother care for her older brother, who was diagnosed with Type 1 diabetes. Today...

How risky are you? Why insurance works better with less discrimination

Discrimination is a great taboo of our times, and yet one huge industry gets away with it every day. The insurance sector looks at us as risk with legs. It puts us into groups, and if we are in a group deemed riskier, we have to pay more. It’s even written into law. Anti-discrimination legislation usually includes exemptions for insurance pricing. Behind this approach lies the fear of an economic phenomenon known as “adverse selection”. In insurance terms it refers to the idea that you are more likely to buy insurance if you think you are going to need it. This happens when insurers are not allowed to discriminate and the cost of risk has to be spread among the entire group. It means that...

If I Need High-Risk Life Insurance How Do I Know? What Should I Do?

Many people look into purchasing a life insurance policy only to find that many companies do not offer insurance plans to them due to pre-existing conditions or other risk indicators. When a person is considered a higher risk to insure, they may find that policies are harder to come across. In some cases, being high-risk is due to a below-average level of health. There are numerous other reasons a person can be considered high risk, however. A person can be high-risk if they have a hobby or profession that puts them in life-threatening situations. When people are classified as high risk, the premiums they will need to pay for a life insurance plan will be higher on average. In order to get...

Understanding the Interest Rate Sensitivity of Insurance Companies

Are insurance company stocks interest-rate sensitive? To some, this may appear to be a rhetorical question. But it truly depends on the type of insurance company and the products you underwrite and sell. Because life insurers write a lot of spread business in which they earn money from the difference between the total return on their assets and the rate they credit to their policyholders, life insurance stocks tend to correlate highly with interest rate movements. One simple way to track this spread is to look at the 10-year treasury note (or the 10-year treasury note compared to the two-year treasury bill). In 2019, despite the 100-basis-point drop in the 10-year bond, the S&P Life and...

High Risk Insurance for Risky Careers and Activities, Lighthouse Insurance Benefits

If your activities or career has been a roadblock to life insurance, the chances are that the problem lies with the agent you worked with and their lack of knowledge more than you and the activity. The solution is high risk life insurance which is defined as insurance for someone who is engaging in high risk activity, whether for work or fun. An example would be with private pilots. Most life insurance companies are only willing to insure a private pilot if he or she is willing to exclude aviation caused death from the coverage. Then there are a group who are willing to cover your life even if death occurs while you are flying your own plane, but they want to charge what’s called a...