Life Insurance No Exam" Makes Every People To Get Approval For Life Insurance"

Many people were rejected for life insurance, the main reason for the rejection is their health problems. But many insurance companies has solved this problem by an option called life insurance no exam which provides the insurance policy which they have applied for.

 The main requirement of applying for life insurance is the medical records or a proof of the present health condition of a certain applicant. The applicant cannot be able to continue with his insurance application if he fails the medical requirement. If he fails he will be offered with insurance no exam with higher premium rates but the insurer should be able to sustain with the additional expenses.

 Insurer should always be aware of this new commitment which lasts for a long time. He should settle his accounts according to the signed agreement by following the rules and regulations of the insurance company. If the insurer fails to pay the insurance company on the specified date he will be fined with penalties. May be the penalty is fewer but it is considered as an additional expense, why do we want to spend money unnecessarily.

 The insurer with life insurance no exam option will continue to pay higher insurance rates throughout the end of the term. These higher rates are because of the higher risk of a sure grant of the claim. Since the insurers do not undergo any medical examination and the insurance company was not aware of true health condition of the insurer the insurer needs to pay higher rates for the policy.

Here are examples of individuals who can get hold of a life insurance no exam
     People who have certain health condition and don't want to take the medical exam.
   Peoples who plays adventures games and possess dangerous jobs may not get term life insurance due to increased risk
     For drivers who have poor driving records are also offered for this type of life insurance
     For smokers who smokes at present will also be offered for no exam because they are more likely to get lung diseases or cancer if they continue to smoke.

To keep people from acquiring a life insurance no exam, they should maintain a healthy body.  Physically fit people can acquire a cheaper type of life insurance.  These healthy people have a high chance of finishing the term because of acquiring a physically fit body.

Mostly, young people get hold of life insurances with lower rates.  Because of the high chance of outliving the term, these young individuals can still afford to acquire another life insurance term after ending the previous one.  This way, companies offer them a better type for a new term.

 It is natural that people always go with lower coasting or cheaper expenses. Term life insurance offers a cheaper insurance quotes and this is popular because of its lower insurance rates that do not change until the end of the term. If the insurer finishes the term it provides greater benefits like whole life insurance possessing greater benefits.  Even some are provided with cash build-up so the insurer can pay it for the other expenses.

It is better to look for cheap life insurance rates in the internet.  It is fast, more accurate and very comfortable.  There are many sites to search for lower costing life insurances.  Just be patient in looking for them.  While searching for your concerns, you may encounter many sites that offer quotes.  These quotes help speed up the selection of which type is fit for an insurer.  It generally considers the person's capacity to pay for a long period.

 Many people were rejected for life insurance, the main reason for the rejection is their health problems. But many insurance companies has solved this problem by an option called life insurance no exam which provides the insurance policy which they have applied for.

 The main requirement of applying for life insurance is the medical records or a proof of the present health condition of a certain applicant. The applicant cannot be able to continue with his insurance application if he fails the medical requirement. If he fails he will be offered with insurance no exam with higher premium rates but the insurer should be able to sustain with the additional expenses.

 Insurer should always be aware of this new commitment which lasts for a long time. He should settle his accounts according to the signed agreement by following the rules and regulations of the insurance company. If the insurer fails to pay the insurance company on the specified date he will be fined with penalties. May be the penalty is fewer but it is considered as an additional expense, why do we want to spend money unnecessarily.

 The insurer with life insurance no exam option will continue to pay higher insurance rates throughout the end of the term. These higher rates are because of the higher risk of a sure grant of the claim. Since the insurers do not undergo any medical examination and the insurance company was not aware of true health condition of the insurer the insurer needs to pay higher rates for the policy.

Here are examples of individuals who can get hold of a life insurance no exam
     People who have certain health condition and don't want to take the medical exam.
   Peoples who plays adventures games and possess dangerous jobs may not get term life insurance due to increased risk
    For drivers who have poor driving records are also offered for this type of life insurance
    For smokers who smokes at present will also be offered for no exam because they are more likely to get lung diseases or cancer if they continue to smoke.

To keep people from acquiring a life insurance no exam, they should maintain a healthy body.  Physically fit people can acquire a cheaper type of life insurance.  These healthy people have a high chance of finishing the term because of acquiring a physically fit body.

Mostly, young people get hold of life insurances with lower rates.  Because of the high chance of outliving the term, these young individuals can still afford to acquire another life insurance term after ending the previous one.  This way, companies offer them a better type for a new term.

 It is natural that people always go with lower costing or cheaper expenses. Term life insurance offers a cheaper insurance quotes and this is popular because of its lower insurance rates that do not change until the end of the term. If the insurer finishes the term it provides greater benefits like whole life insurance possessing greater benefits.  Even some are provided with cash build-up so the insurer can pay it for the other expenses.

It is better to look for cheap life insurance rates in the internet.  It is fast, more accurate and very comfortable.  There are many sites to search for lower costing life insurances.  Just be patient in looking for them.  While searching for your concerns, you may encounter many sites that offer quotes.  These quotes help speed up the selection of which type is fit for an insurer.  It generally considers the person's capacity to pay for a long period.

Living Dangerously? There's Life Insurance for That

 Suppose you're a generally healthy person with a weekend habit of jumping out of helicopters to ski down mountains in the middle of the French Alps? What if you like to ascend ice formations in a sport called ice climbing, or barrel down a twisting paved road while lying on wheeled board? How about if you work a dangerous job? If you find that your adrenaline rush or risky occupation is getting in the way of obtaining life insurance coverage, here's two ways to prevent being denied coverage or finding reasonable rates; don't lie, and get trained.

Although hazardous avocations typically come with increased premiums, high risk insurance specialists can advise you on how to keep your personal premiums from soaring.

Dangerous avocations, as defined by the United States occupational safety and health Administration's (OSHA), are categorized as "impaired risk," meaning most underwriters will rule out the most favorable rates, but according to Carol Casey Ode kirk, spokesperson for State farm Insurance, people who work dangerous jobs are generally compensated for job risk by their companies, which can offset any increase in premiums.

"Insurers are obviously involved in aggressive underwriting for people with impaired risk, but to do the best job we need to know all the facts pertaining to the risk," says Gary Dworkin, Immediate Past chair for the National Association of Independent life brokerage Agencies.

While premiums vary based on specific circumstances, taking safety courses and showing expertise in your hobby or occupation can help reduce your rates. The life insurance market is very competitive and rates are often reasonable, so chances are fairly good a risk specialist can find you the best coverage for the right price. Lying or omitting information, however, will not help you.

"Insurers are pretty good about their research, so it's not a matter of if you lie, it's a matter of when they catch you. Within the first two years the life insurance policy is issued, insurers have the right to reject claims, refund premiums or nullify the contract if it's found that they misrepresented information. There's also a chance of having a claim rejected for fraud," said Dworkin.

          If you are caught lying before a life insurance policy is issued, it goes on your record, which can keep you from finding reasonable rates or being insured altogether, so simply don't do it.

          When it comes to living dangerously, some people don't just do it for kicks, it's their day job. Preliminary data from the United States Department of Labor's 2008 "Census of Fatal Occupational Injuries" listed the following five jobs as the most hazardous, by fatality rate (otherwise known as the chances of surviving, if you are injured on the job). We included an additional five jobs with surprising mortality rates.

1. Fishermen:

               Sure, they get plenty of fresh air and exercise, but they also have the highest relative risk of death by drowning. Although the DOL listed 38 fatalities in 2008, fishermen have the highest fatality rates of any profession 111.8 (per 100,000).

2. Lumberjack:

            With a mortality rate of 86.4/100,000 and 76 fatalities with the reason listed as "contact with objects and equipment," sometimes being a lumberjack is not OK.

3. Airplane pilots:

            People who work in the airline industry, particularly pilots, hold the dubious honor of third-most dangerous job in America. With 87 deaths in 2008, they face a grim 70.7/100,000 chance of death every day they go to work. The majority of their deaths are crash-related. Just remember to thank your pilot on your next flight (instead of complaining about the delay).

4. Structural metal workers:

             Someone has to make sure the buildings go up. Unfortunately, structural metal workers face a huge risk of falling down on the job from an average height of 500 feet or more. Unlike the top 3, metal workers had 40 fatalities listed for 2007, and a mortality rate of 45.5.

5. Farmers and ranchers:

              Sure, a job in the open country, working with the land may sound ideal, but it loses appeal when you consider how sharp farm implements are, and how a herd of stampeding animals won't stop because the light went red. With 293 deaths in 2008, farmers and ranchers have a mortality rate of 39.5.

Five surprisingly Dangerous Jobs:

 1. Driver/sales workers and truck drivers:

                It's a life on the open road, which is both a problem and a solution for many people in the transportation industry. Although they have a relatively low fatality rate, 28.2, the DOL also listed a shocking 976 fatalities in 2007.

2. Construction workers:

                Like structural metal workers, construction workers are integral to maintaining the infrastructure of our society. Although their mortality rate is a relatively low 19.5, their job requires working in a variety of dangerous conditions. As a result construction workers average a staggering 345 deaths per year from falls and traffic accidents.

3. Grounds maintenance workers:

                 It's a dirty job, but somebody has to keep the grounds looking nice at golf courses, parks and resorts across the nation. Unfortunately, with 160 fatalities listed in 2007, it might not be the hottest job on the market. On a plus note, grounds workers enjoy the lowest mortality rates on this list, 12.0.

4. Policemen and Sheriffs:

                  Despite upholding the law, policemen and sheriffs are subject to the same general rules as ordinary folks with hazardous jobs. Their fatality rates were listed as 21.8, and they only suffered 146 fatalities, with the most common cause listed as "transportation incidents."

5. Taxicab Drivers

                  Ever wonder why your cabby is so surly? With an average of 50 deaths per year from violent assaults and a mortality rate about the same as police officers (21.3), they might have earned the right to be a little standoffish. Just remember to make eye contact and smile before your cabby whips out the mace.

How to get life insurance when you have a catastrophic illness

Many people think being diagnosed with a catastrophic illness like cancer or heart disease is both a death sentence and an end to your chances of receiving life insurance.

They could be wrong on both counts.

              Medical advances and healthier lifestyles have resulted in higher survival rates for many high risk diseases, including breast cancer and diabetes, in the past decade. Insurance companies have responded with more affordable, albeit still rated, policies.

               Insurance options are even available for those with the most catastrophic of illnesses, such as lung cancer or ALS (Lou Gehrig's disease), where chances of surviving more than a couple years are slim. Graded benefit and guaranteed benefit products are viable alternatives to term and traditional whole life, which are practically impossible to get in these instances, according to Ryan Pinney, high-risk specialist with Pinney Insurance Group, an insurance brokerage firm in Roseville, Calif.

               He says both are whole life policies that usually max out at $50,000. Graded benefits pay a small percentage the first year, with a little more each year after that until the fifth year, when it levels off. He recommends this for people with illnesses with a longer survival prognosis like multiple sclerosis, prostate or colon cancer. Pinney says the cost varies greatly, depending on age, illness and whether the person smokes.

With guaranteed whole life insurance, there are no questions asked and no medical exam. Anyone can get it, but it costs about $3,000 a month for a 40 year old and about $5,000 a month for someone 50 or older, Pinney says.

             "To make this worthwhile you need to live at least three years, but not more than eight years. After eight years it is a losing investment," Pinney says.

              Someone with Alzheimer's could not get insurance with most companies not only because of the terminal nature of the illness, but because you have to be cognizant when signing a policy, says Dr. Craig Davidson, senior medical director with The Hartford.

             Pinney says those with high-risk, but not terminal, illnesses can expect to pay 25 percent to 50 percent more per month in premiums, if their eligibility falls below standard.He says if a standard policy costs $100 per month, someone with well-controlled diabetes could be rated in Table 2, at $150 a month. If they have Type 1 Juvenile Diabetes, they would be rated harsher, more like Table 4, at a cost of about $200 to $250 a month, he says.

           "Underwriters will look at the type of disease you have, at what stage the disease was detected, the type of treatment you are receiving, and the length of time the doctor gives you to live to determine if you will get insurance and how it is rated," Pinney says.

            The overall five year relative survival rate for breast cancer from 1999-2005 was 89.1 percent, but only 5 percent if the cancer already metastasized, according to the U.S. National Institutes of Health National Cancer Institute Surveillance Epidemiology and End Results Cancer Statistics Review.

            According to the American Diabetes Association, 23.6 million kids and adults have diabetes. It is the seventh leading cause of death. However, it is also controllable with a combination of nutrition, exercise and medication. Pinney and Davidson offer the following advice when it comes to purchasing life insurance.Buy when young and healthy, when the cost is much less and before you have a serious health issue.

           Once you have purchased a policy, it can never be taken away from you and the price can never go up, as long as you pay the premiums every month, Davidson suggests. If you buy when you are healthy, you can get either term or whole insurance, whereas you can only get the more expensive whole life if you've been diagnosed with a high-risk illness.

 Buy accidental death and dismemberment insurance:

              Pinney says this is an alternative if you can't get traditional life insurance or afford guaranteed benefit insurance. These policies are easy to get, relatively inexpensive and no medical test is required. However, they only pay out in the event of an accidental death, so it is a gamble you must decide that you want to take. "Chances are, the illness isn't what kills you," he says. He suggests these policies to people who have an illness with a longer lifespan, such as multiple sclerosis.

Don't give up:

                  Underwriters look at the test of time, Davidson says. If your doctor can document you have been disease-free for at least five years (your cancer or leukemia has been in remission or your cardiac tests show no heart disease for that length of time, for instance) and that you have been leading a healthy lifestyle and following your doctor's diet and medication directives, you could qualify for insurance, even if you've been denied in the past. He says companies don't look at the number of heart attacks someone has had, for instance, but the severity of the attacks, how close together they were and if you now have a favorable cardiac testing.

Apply for a new policy:

                   If you've had a life insurance policy for years, especially if you bought it after the diagnosis, it might be less expensive for you to buy a new, better policy than to retain your current one if you have been disease-free for at least five years, Pinney says. Prices have been going down every year, and insurers should be amenable to providing you with a new policy. If not, he suggests switching to an agent who would be. He recommends reviewing your policy every two to three years, and changing whenever it is worthwhile cost-wise.

Be good to yourself:

                  The best way to get insurance at lower rates is to stay or get healthy, Pinney and Davidson agree. Insurers look at you favorably if your doctor verifies that you exercise, lost weight, eat healthy, follow his advice, participate in wellness programs and visit him or her regularly.It's good for your health and your pocketbook.

Single with no children? Consider life insurance

If you were to ask a single person if they have purchased life insurance, don't be surprised if they look at you blankly. It's true that singles who are young and healthy rarely think about their own mortality yet alone life insurance, but here are some sobering facts:

The top leading causes of death for people between the ages 20 to 34 in the United States in December 2009, were accidents, suicide, homicide, cancer, diseases of the heart and HIV, according to the most recent mortality data issued by the National Vital Statistics System.  

Tom Currey, President of the National Association of Insurance and Financial Advisors (NAIFA) understands this trend.

"The fact is, young people don't feel they need life insurance," says Currey. "It's better to take a longer view because if you decide to get married in your thirties, you could have a health condition by then that may affect your life insurance rates. Also, you would not want the financial burden of your burial to fall on your family in the event of your death."

Term is best:

A 2006 survey by the National association of Insurance  Commissioners (NAIC) found that 35 percent of young singles have a life insurance policy. In addition, only 28 percent know the difference between term and whole life, while 27 percent are aware that buying life insurance now will guarantee coverage when they get older.

"Young singles should consider at the very least purchasing a term policy with guaranteed renewal," suggests Al Lurty, Senior Vice President of Business Development at ING. "Term life insurance is still very affordable even though there has been a slight upward movement in rates recently. You can get rates that are .20 to .25 per $1,000 of coverage for a young, healthy single female on a 10-year plan."

Brant Spesshardt, CFP and financial advisor for Dave Ramsey ELP, says that singles without children shouldn't consider life insurance, unless there is a legitimate need.

"If their debt would fall on someone else who shares financial responsibility with them, then that would be a good reason to purchase life insurance. Also, if someone is relying on them financially [this doesn't necessarily have to be a child] then they should have a term policy," says Spesshardt. "If none of this applies to their situation, they should focus their efforts on becoming debt-free rather than paying into an insurance policy they really don't need."

If you are single and in your 20s or 30s, here are few factors to think about when you consider owning a life insurance policy:

Health can be fleeting with age:

 If you purchase a term life policy now, you will be guaranteed insurability in the future. Life insurance policies increase in price with age, so if you lock in a policy while you are young and healthy, you can convert to a more permanent policy later when your circumstances change. Also, as you get older there is a possibility of developing a pre-existing medical condition that may affect affordability. In some cases, depending on the severity of the medical condition, you can be denied life insurance altogether.

Funeral costs:

The National Funeral Directors Association (NFDA) reported that the average coast of a funeral in 2010 was $7,323. Term life provides coverage starting from as low as $10,000 to more than $1 million. Term life would adequately pay for the cost of burial.

College loans:

A 2009 National Postsecondary Student Aid Study published by the National Center for Education Statistics, found that between 2007 and 2008, two thirds of college graduates with four year degrees turned their tassels to the right side and left school buried in considerable loan debt. In four years, the average amount undergraduate and graduate students borrowed ranged from $27,000 to $114,000.

While Federal loans are forgiven in the event of death, a private loan may not have the same provision. Private loans are often taken out as a supplement to Federal loans and other sources of financial aid. If you are still a dependent and you've taken out a college loan from a private banking institution (Sallie Mae or a bank) with your parents as co-signers, keep in mind that if you were to die, they would be saddled with paying off the remainder of your the loan debt. A life insurance policy can be used to pay off the debt in full. It's best to discuss with your lender if your school loan comes with debt cancellation at the time of death.

Long-term goals:

Life insurance can also be used to fund long-term goals.

"If they purchase a term policy and lock in rates at a young age now they are guaranteed insurability and will be able to convert the policy into a whole life insurance policy if their needs become more permanent such as opening a business or purchasing a home. If you were to die, life insurance can help pay off your business loan or mortgage obligations," explains Brian Ashe, spokesperson for the LIFE Foundation.

Ashe adds that utilizing the cash value of a life insurance policy can be very attractive in terms of making loans available to the policyholder.

"You can accumulate substantial cash value through a life insurance policy and avoid having to deal with the typical loan approval process at a bank," says Ashe. "You can also choose the terms of repayment and pay off the loan at any time. If you have the policy open for 10 years or more, the monies in the cash value would accumulate and you would have a sizeable down payment for a home or car loan."

Home mortgage debt:

What's more, if you had a relative co-sign on a home mortgage and you died, they would be stuck with trying to pay off your mortgage. Co-signers are responsible for 100 percent of the debt, if something were to happen that might cause the loan to default. Life insurance can be used to cover the costs of a condo or home loan.

Guaranteed Issue Life Insurance Is Not Created Equal

There are a handfull of life insurance companies that specialize in some form of "critical illness" or "impaired risk" guaranteed issue life insurance product. The vast majority of the so calledguarenteed issue" life insurance policy are quite the contrary of the definition of Guarenteed issue. A true  guaranteed ssue life insurance policy will indemnify the insured beneficiaries with limited to no caveats in issuance from the insurance company. Many insurance carriers will not consider making an offer on a convicted criminals policy. While most insurance carriers will not offer insurance to a patient in a long term care facility. Many so called guaranteed ssue insurance underwriting guidelines will result in a denial for the preceeding backround issues.

There is only 2 insurance carriers with A or better AM Best (excellent financial strength) that offer a true guarenteed issue life insurance policy. This means you can be on probabtion,you can be in a long term care facility, you can even be incarcerated and 100% insurable. Many insurance agents will tell you that your uninsurable with cancer,criminal history,HIV,DUI,residing in a long term care facility,etc... There is a multitude of reasons why a "traditional" life insurance carrier would consider an impaired risk as unisurable. This however does not mean uninsurable to all life insurance companies. If you have a difficult insurance risk, the knowledge of your agent and his agency carriers become even more crucial. The insured needs to have a reality check as far as risk based pricing is concerned. Your insurance policy in the first few years may be expensive, but the ability to get rerated or change carriers as the risk diminishes is also a crucial step in making sure that you are never without coverage, and that you are insured to the best  market rate available based on the circumstances. Having some coverage is better that not having any coverage. The insureds monthly budget may play a signifigant role indeterming a face amount. You as the insured or policy owner need to deal with an agent that specializes in high risk life insurance. This type of insurance policy may also carry whats known as a "graded benefit". The graded period is typicially 2-5 years depending on the insurance company,and is a return of premium policy in that specified "graded" period.

Your agent will be able to determine what carrier is appropiate depending on the severity and age of the risk and the insureds age. Call an agent to discuss your details and budget for high risk life insurance.

Can you be denied life insurance if you have anxiety or depression?

We've all had times in our lives when we didn't feel at the top of our game. Maybe it was due to a job loss or the death of a family member; there are numerous reasons for feeling down.

            However, according to the National Institutes of Mental Health, for 26.2 percent of Americans age 18 and older this feeling of hopelessness is due to a diagnosable mental disorder. That is approximately 14.8 million adults suffering from a major depressive disorder and about 40 million adults suffering from anxiety.

What's more, a study conducted by the University of Michigan states that in today's faltering economy, job loss and financial strain can lead to depression that lasts up to two years after an individual is employed in another position.

            If you apply for life insurance can a history of depression and anxiety can lead to a decline, but often that is not the case.

            When applying for life insurance, insurers are interested in an individual's mortality rate and anything that might prematurely shorten their life. Insurers generally ask a potential policyholder to provide a personal and family medical history, in addition to answering questions about the types of "risky" hobbies the policyholder participates in, such as scuba diving or rock climbing. The information provided can red flag an underwriter into giving the application a second glance in order to determine if they should assign a waiting period (before the person can apply for life insurance), deny coverage or offer a "rated" policy.

            In most cases, depression and anxiety counts as a "preexisting" medical condition on a  life insurance application. So if you are overweight, smoke, skydive regularly, and happen to be depressed, you would have a higher mortality rate than a fit and trim nonsmoker who has a less exciting hobby and a better state of mind. In fact, a recent study by the Netherlands Institute of Mental and Health Addiction found that mortality rates for those with depression are significantly higher than those in mentally healthy individuals.

           This is not only due to risk factors such as suicide, but to the toll that depression takes on the body, which can include high blood pressure, heart problems, and decreased immune function. This translates to someone who isn't eating right or not at all, sleeping poorly and not exercising. When you couple this with a higher rate of drug and alcohol abuse among those who are depressed, this can bring a number of additional medical concerns.

           Insurance companies generally consider the criteria for a major depressive disorder to be a history of depressed mood for at least two weeks, in addition to four or more symptoms that include changes in weight, sleep disturbances, feelings of worthlessness or guilt, problems with concentration and suicidal thoughts.

          Allen Hixon, manager, State Farm Life Insurance Company, says standard rates would still be available for applicants who have a "mild" bout with depression. "Generally, preferred rates are not available for some period of time following a diagnosis, but when they are, it would be for individuals who have responded well to treatment. They would also have to demonstrate an excellent medical outcome for some period of time, but this varies by severity, from the date of diagnosis," says Hixon.

          Ryan Pinney, brokerage director for Pinney Insurance Center in Roseville, Calif., agrees, "In more severe cases or for those who have a history of suicide attempts or hospitalization, [there would be] a rating or possible decline. The rating or decline would be determined by how long ago these issues occurred; the longer the better. If it is more than five years, then the rating would be in the low category." Pinney suggests contacting multiple companies to find a better rate and working with a firm or agency familiar with depression and mood disorders.

          Those suffering from anxiety have a slightly easier time obtaining life insurance, but are still considered a risk by life insurers. In most cases, insurers will offer a standard rate for someone that suffers from anxiety or panic attacks, but preferred rates would not apply in this case.

          Pinney says, "By itself [anxiety] is normally a non-issue and therefore not ‘rateable' for insurance companies. Where it does become an issue is when medications and treatment is prescribed. Often the medications used to treat anxiety are the same as those used to treat some forms of depression. This blurs the line between the two from the underwriter's perspective and may cause them to take a closer look and ultimately rate anxiety cases."

         Pinney suggests if you suffer from depression or anxiety, tell your insurance broker upfront. There are no set rules when it comes to insuring those suffering from depression or anxiety and if your broker is aware upfront, it can be worked into your quote.

         You may not be eligible for the coverage you wanted but you may not be excluded from coverage altogether.

        "An individual may be temporarily declined coverage if they've been recently diagnosed. This is because there is usually insufficient medical information and treatment history available to determine if his or her prescribed treatment is effective. Normally, this would be within the first three to six months after being diagnosed," advises Pinney.

         If you have been under a physician's care for an extended period of time without incident, chances are greater that your insurance coverage will be less of an issue.

        You may need a letter from your physician explaining your situation and how you are reacting to treatment along with documentation showing what triggered your depression and what you did to control it. But, if your medical records show that you were proactive, your chances of obtaining coverage may increase.

        Pinney reminds us that manic and chronic depressions are actual medical diagnoses that would be based on his or her specific conditions. "Someone who has experienced a ‘rough patch' would be defined as someone with a transient issue that is causing his or her anxiety or depression," says Pinney.

        Examples of these would be the recent loss of a spouse or loved one, bankruptcy, divorce, and financial or legal issues.

       "Insurers are usually pretty good at identifying these differences and can often make exceptions to their rules and guidelines, if they are given a specific and compelling reason to do so. This would normally come in the form of a letter from the individual, individual's doctor, or the insurance agent involved. Pinney explains that this is generally a cover letter that would explain any issues or problems that may have contributed to the depression or anxiety.

     "At the end of the day, the insurance carriers will be considering the medical records of the proposed insured, his or her medical exam, and any additional records or cover letters provided. Again, the more detailed and compelling the information, the better chance that the individual will be able to receive the most favorable rate class".

Different Types of Life Insurance Policies

Buying a life insurance policy is a vital decision to make as it will last you your entire life. Consider some critical points that determine an ideal insurance policy like your family is taken care of in the event of your death.

Decreasing Term Life Insurance Policy One policy that sets itself apart from all other types of life insurance policies is decreasing term life insurance. As the name implies the face amount of the policy gradually decreases over the years. The most common area where your need for life insurance decreases is when a policy is used to erase a mortgage debt when the homeowner dies.

Imagine the peace of mind knowing your life insurance policy will provide for your loved ones in the advent of your untimely death. By selecting the correct type of life insurance policy you can be assured of this. There are very many companies offering life insurance premiums and being online gives you quick easy access to them.

There are several choices involved concerning insurance and the basic policies are whole life insurance, term insurance, no load, mortgage and universal. The term policy is considered the most popular form of insurance where you will pay a fixed amount over a certain amount of time. 

Term insurance is the most common and basic life insurance policy. You get a sum assured amount on your death, which is handed out to the person you nominated for in the insurance agreement. So here, you have to determine how much the life cover should be, the policy tenure etc. 

Return of premium term insurance (ROP) is a relatively new type of insurance policy that offers a guaranteed refund of the life insurance premiums at the end of the term period assuming the insured is still living. This type of term life insurance policy is a bit more expensive than regular term life insurance, but the premiums are designed to remain level. 

There are different types of life insurance. Term insurance is the simplest form of insurance wherein you purchase the insurance coverage for a specific period, for a specific amount. There is no investment component for this policy and if the insurer dies within the period of the coverage, the beneficiary gets the assured sum.

Term life insurance is one of the most popular. This allows the dividends to be used to buy an extra amount of insurance. Because of this quality people have the opportunity to have more money to offer to their families when they have passed. Yet, there are times when the dividends are lower then what was expected.

Living in a country such as South Africa presents a need for life insurance. Many people realize that it is a necessary investment in their family's lives, and their future. It is easy to feel as though the search for an underwriter offering policies which afford you value for money might be a fruitless endeavor. 

Life insurance is a great way to protect your family's financial well being in the event of your untimely passing. However, with staggering number of options currently available, selecting the right type of policy can be very challenging. 

Every type of life insurance falls into two main categories, either term life or whole life, and this article is going to give you a little more information on each type and some tips to help you make the right choice.

Variable life policies are similar to universal policies. They offer more flexibility than universal policies because here you even have control over where the cash value gets invested. 

You can also make changes in the structure of your cash value and death benefit several times a year. You also have the flexibility to choose the type of investment they are going into like stocks, bonds, etc.

With term life policies, the insured person does not stand to gain anything if he is alive at the end of the term period. All the premiums that he or she might have paid will not be returned. This is one of the reasons why premium payments are lower with term life policies.

Life insurance policy

People are very unsure of whether there is cheap life insurance out there. But the truth of the matter is that it is there only them that have not understood what it takes to find where cheap insurance policies are. For you to get cheap policy life insurance policy, you need some know how of basic things concerning insurance. You also need to do some research to help you have the information needed to help you get the different types of life ins which are accommodating to your budget. Apart from that, you require to educate yourself on what you require and expect from the life insurance policy you want to insure yourself with. Make an effort to do research on the options relating to the different life insurance policy companies. It will all come back to you knowing what you want and require in terms of finding a cheap policy life insurance before you take a step of finding quotes.

whole life insurance policy vs.terms insurance policy:

              The first step in determining the cheap insurance policies which are available is to understand the type of insurance you select. Term insurance policy has a benefit in that it is cheaper than the whole life insurance policy. Whole life insurance, as the name illustrates, provides policy life insurance for the remaining part of your life, whether it takes twenty or sixty years. Comparing that with term insurance, it makes term insurance less effective on the fact that term insurance policy only covers a specific time period. For example, it may be covering a period of 5 years. This means the Dependants of the insured are only entitled to compensation if the insured dies within that specific period. But if the insured dies on the 6th year, and where the policy had not been renewed, then the Dependants can't make any claim. With the whole life insurance policy, you have to be prepared to pay more for the monthly premiums.

         When we say that whole life insurance is more expensive, this doesn't mean that you can't get a cheap whole life insurance policy, what we meant is that comparing the term insurance with whole life insurance policy; it may of course have a higher rate. The fees which you want to be paying are not actual fees, but are commissions. When dealing with commissions, you need to discover that they can consume your cash value of the whole life insurance policy. When you are on the research ensure that you look for term ‘low load', which means low fees in terms of paying for the life policies.

       Nevertheless be careful. You'll find that the whole life insurance may not be cheap if you decide to withdrawal the funds. This happens when policy's value of cash is more than the premiums paid. This will subject you to pay taxes. Having a loan against the same reason will end up with the same results. Take time to think about which type of insurance you want and can afford, which will make you to at all cost avoid taxation. The more you do a research of cheap insurance policy, the less you are subjected to hefty payments of life policies.

can your genetic makeup stop you from buying life insurance?

If your grandfather was an alcoholic does that mean that you're destined to be one as well? What about your mother and aunt who have both been diagnosed with breast cancer?

Your genetics determine more than the color of your eyes and skin, they present a detailed map that illustrates familial traits, ticks, and in some cases, the odds of being stricken by a serious illness.

  Following several key court cases beginning in early 2000, genetic testing was used to make unfounded assessments of genetic risks for those seeking employment or insurance.

  "We are incredibly vulnerable when it comes to our DNA," says Dr. Deborah Peel, a practicing physician, boarded psychologist and founder and chair of the non-profit consumer health privacy advocacy organization, patientprivacyrights.org. "I don't think we realize that when we walk around a room we shed DNA everywhere. This information can be lifted from a glass of water or a soda can. If you can lift off enough microscopic material you can find out a great deal about that person's genetics."

  Some fear that as genetic testing becomes a routine practice in medical treatment, insurers will find ways to use the information to deny, limit or cancel insurance.

  Others fear that the possibility of discriminatory practices concerning genetic tests will bring advancements in human genetics to a grinding halt.

  Nowadays, consumers and advocacy groups alike are looking for stronger protections when it comes to who can access their medical records.

  In May 2008, former President Bush signed the Genetic Information Nondiscrimination Act of 2007-2008 (GINA) to protect Americans from being discriminated against by heath insurers and employers based solely on their DNA. The United States department of health and Human Services, issued a March 2009 guide that tackles GINA in detail. According to the guide: "When making determinations required under 45 CFR 46.111 (a), GINA's provisions prohibiting discrimination in health coverage based on genetic information do not extend to life insurance, disability insurance, or long term care insurance. GINA's provisions prohibiting discrimination by employers based on genetic information generally do not apply to employers with fewer than 15 employees."

  "I find GINA a bit disconcerting," says Linda McCabe, author and Adjunct Associate Professor of Human Genetics and Pediatrics at the David Geffen School of Medicine at UCLA. "On the one hand it is a very limited step toward providing some protections for individuals who are asymptomatic and would like to have genetic testing done. I'm very concerned that anyone who actually has a disorder or develops a disorder will not be protected. GINA does not protect you if you have symptoms."

  Even after GINA was passed, the American College of Medical Genetics reported receiving a high number of phone calls from physicians about whether patients can pay for genetic testing out of pocket, worried that such information may be used against them by insurers.

  A February 2008 survey by the Genetics and Public Policy Center in Washington D.C., showed that an overwhelming majority of the 1,199 Americans surveyed support genetic testing for research and advancements in health care, but a whopping 92 percent were concerned about genetic tests being used to profile their health. While a large majority trusted their doctor's handling of genetic test results (86 percent), only 16 percent trusted employers who have access to this data. An even lower percentage trusted their insurers with the same information. 

  Ninety three percent felt genetic testing shouldn't be used to make decisions to deny or limit insurance coverage or decisions related to hiring and promotion in the workplace.

  Of late, the topic has been addressed in regard to health insurers, but very little has been mentioned about what this information could mean to someone applying for life insurance  particularly in the individual market.

Life insurance is of special concern because underwriters assess mortality risk to determine how to rate or deny a policy to those who have a pre-existing medical condition.

  "Insurers generally are not quick to embrace new technologies such as genetic testing," says Whit Cornman, spokesperson for the American Council of Life Insurers (ACLI). "Instead they tend to look at things that have a long proven track record."

  "The run-of-the-mill approach to life insurance involves evaluating factors such as weight, height and a history of chronic disease, insurers are not necessarily looking at genetic information. Also, those factors are certainly less expensive to gather," says Amanda Arnold, Health Policy and Legislative Analyst for the National Human Genome Research Institute at the National Institutes of Health.

  Arnold adds that to date, the NHGR has not received any cases involving genetic discrimination, patient privacy and life insurance, but she understands why genetic testing might interest insurers.

  "I can imagine a scenario that it would be in their interest to gather such information when it comes to establishing premiums, but they have better ways to determine a person's health and set rates," says Arnold. "In the meantime, we will continue to monitor the issue. If problems emerge at some point in the future, then we would encourage the policy community to look at the implications of the practice and make additional recommendations as it becomes necessary."

  Currently, 43 states have recognized the importance of maintaining the privacy of genetic information. But each state approaches the issue differently. GINA does not trump more expansive state laws.

  "State legislatures do so many things at the state level regarding insurance and there are some protections regarding genetic discrimination and patient privacy on the federal level but none apply specifically to life insurance," says Arnold. "The state level could be where this topic bubbles up, especially if the states start parsing more laws regarding this issue."

   In January 2008,The National Conference of State Legislatures compiled a list of states that strictly prohibit the use of genetic information for risk selection and classification by life insurers. Those states include:

Arizona: Requires "actuarial" justification to use genetic information in life insurance and informed consent to use genetic information.

California: Requires informed consent to use genetic information. Note: In California, an insurer can only require a person to undergo a genetic test if the life insurer explicitly pays for the cost.

Florida: No insurance company shall refuse to issue, fail to deliver, or charge a higher rate solely because a person has a sickle-cell trait.

Maine: Requires Informed consent and allows actuarial justification

Maryland: Allows actuarial justification.

Massachusetts: Allows actuarial justification. Forbids insurance companies from requiring a genetic test.

Minnesota: Requires informed consent and allows actuarial justification.

Montana: Allows actuarial justification.

New Jersey: Allows actuarial justification and requires informed consent.

New Mexico: Allows actuarial justification and requires informed consent. Must notify applicant that genetic test may be used.

New York: Requires informed consent

North Carolina: Restricts discrimination based on genetic information in life insurance, but only applies to "sickle-cell trait, thalassemia-minor trait, hemoglobin C trait and Tay-Sachs trait.

Oregon: Allows actuarial justification and requires informed consent.

Vermont: Restricts discrimination based on genetic information in life insurance.

                       Notes: An actuary has to "justify" the reason for requiring a policyholder to provide genetic test results

Informed consent. A potential policyholder must agree to take an genetic test through a written informed consent for the test, it must include a description of the test, the reason, potential uses, and other limitations, it must also provide the meaning of its results, and the express right to confidential treatment of the results. The written informed consent must inform the individual that they should consider consulting with a genetic counselor prior to taking the test and must state whether the insurer will pay for the consultation. An informed consent disclosure form must also be approved by the state's insurance commissioner prior to its use.

Inconclusive:

           While there are fears that genetic testing has the ability to open a Pandora's box for those applying for life insurance, authorities in the medical community continue to question the reliability of DNA tests.

Concerned with the possibility that test results are misleading, the FDA and the Federal Trade Commission have also started to question the accuracy of genetic testing.

  "DNA shows certain predispositions to illness, but it is not 100 percent precise in determining this predisposition," says Peel. "Predilection, preferences and behavior are in the gene, but the legitimate studies are just not there yet to actually predict with any confidence if you will become ill, even if you are susceptible to a certain condition."

  The National Institutes of Health have pointed out that clinical genetic tests are available through physicians, genetic counselors and labs, for more than 1,300 diseases, with hundreds more under research.

  Harking back to the nature versus nurture debate, geneticists are swimming in a muddy pool of uncertainty when it comes to predicting the full course of a genetic abnormality.

  "I don't know if genetic tests are misleading, but I do know that we don't have enough data. Most disorders are not caused by a single gene interaction, it's an interaction of multiple genes combined with our environment," says McCabe.

  Even if you received a positive result for being presymptomatic (when symptoms have not appeared), a genetic test cannot accurately establish the risk of developing an illness. Physicians cannot use your results to predict the course or the severity of a condition. The information a test provides is even more limited when it comes to a condition that is inherited.

  Also, DNA testing can miss a disease-causing anomaly because some tests cannot detect all the genetic changes that would jumpstart a particular illness, requiring further testing to confirm a negative result.

  "Everyone has common, natural variations in their DNA, (polymorphisms) that have no effect on health," says McCabe, "If there is a change in the DNA that isn't associated with the disorder, it can be difficult to determine if it is a natural variation or not."

  She adds, while a result can rule out a specific diagnosis, it cannot show if the person has a higher risk of developing a disease or illness. When this happens, generally family members are also tested to rule out a certain disorder, says McCabe.

   McCabe opined that she feels it is not question of accuracy when it comes to genetic tests.

"It's more about genetic determinism… I don't think anyone should place too much emphasis on one genetic test result," she says.

   McCabe suggests if you are thinking about submitting your DNA to a genetic test you should work with a board certified genetic professional who specializes in genetic counseling before deciding to go through with a test.

   "There are pros and cons that need to be addressed and often patients find it's really unnecessary," says McCabe. "Everyone is at risk for a genetic disease, we just may not know what the specific genes are for every DNA mutation in their family. It is very difficult to reach any real conclusions because the number of disorders which we have genetic testing for is still limited."