By Imma Sila
On hearing the term insurance, what mainly comes to the minds of many individuals is property like vehicles, houses, equipment and harvest, but in reality, life insurance has risen and has gained popularity among many people, not only because of the burials expenses which it caters for but also for the many other benefits that accompanies it. Lack of knowledge and understanding has hindered many people from getting the cover and thus, it is a major challenge to the particular companies to lay informational strategies aimed at reaching a larger population.
Insurance companies range from those offering covers with no medical exam to those that requires a medical checkup as a necessity. An individual ought to carry out a thorough research on which company offers the cover he or she prefers to avoid misunderstanding.
Companies that do not require a medical check decide to take up the risk by not evaluating your health status but in turn charge an extra premium to compensate for the risk. They however do not give compensation to death as a result of ignorance by an individual or suicide cases. However, in case of death caused by natural calamities such as accident, full compensation is done. Otherwise, individuals with suicidal plans could be taking an insurance cover before committing suicide and advising their families to demand compensation.
The biggest misunderstanding about this concept is that because no test is required people think that anyone can qualify for it; however, this is not the case as they are policies that have to be undertaken. These policies include answering of health questions administered by the issuing officers, these questions requires you to explain when you last went for your check up and the results. Failure to pass the health question may lead to demand of an exam test or doubling of premiums to be paid.
Reason why people resist medical check ups
1. Temporary employment as they wait for permanent ones
2. Fear to get poked and prodded
3. Mentality that it may be time consuming and expensive
4. Lack of knowledge about the importance of medical checkup and examination
5. High risky working environment wish may result to sudden deaths as a result of accidents and calamities e.g. mining, oil extraction, explosive processing, and chemical reactant industries among other.
Therefore anybody considering life insurance with no medical exam and checkup should do thorough consultation and research from agents to get the best returns.
Article Source: http://EzineArticles.com/?expert=Imma_Sila
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