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business coaching Brisbane7 Handy hints for personal insurance

  1. Be careful buying personal insurance without advice; some cheap life insurance policies pay only if you die by accident (only about 20% of deaths are caused by accident)
  2. Unless you are personally underwritten when you apply, do not assume you are covered for pre-existing medical conditions
  3. ‘No medicals’ insurance could mean that the insurer starts asking questions to determine payment (if any) when you make a claim
  4. It is a myth that applying for insurance means having a medical. Most people are insured on the basis of their medical disclosure in the application and a report from their family doctor (you give written permission for the insurer to write to your doctor in the application form)
  5. If an insurance company wants any medical testing done (commonly a blood test if anything) they will pay for it and will arrange to send a medical professional to your door at your convenience
  6. Never assume you are uninsurable.  An insurance underwriter may exclude some insurance but not all; or exclude certain pre-existing conditions; or increase the premium to reflect higher risk
  7. If you are thinking insurance, think trauma insurance because suffering a serious illness (e.g. heart attack, bypass surgery, cancer, stroke) is statistically your most likely health event

 A good adviser will tell you what is in the fine print.  Personal underwriting and truthful disclosure when you apply is the way to guarantee you will be paid at claim time.

Call me direct on 0408 756 531 or email gary@garyweigh.com

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