You might consider that obtaining life insurance is very easy. All you need to do to get an insurance is to fill up a proposal and submit the requisite documentation. The underwriters at the insurance company will do the rest. Alternatively, if you do not want to exert yourself too much, you could consider visiting your insurance advisor. The advisor will give you various options for obtaining life insurance. Most perspicacious insurance advisors will also advise their clients about the pros and cons associated with each policy. Depending on the client’s requirements, the advisor will recommend a life insurance policy. The advisor will submit the proposal to the insurance company, with the relevant documents. However, did you know that not everyone is as lucky when it comes to obtaining life insurance? Several people keep receiving rejections every time they apply. Further, these people do not possess habits injurious to health i.e. smoking or excessive consumption of alcohol either. Neither do they work in hazardous occupations. Despite this, finding life insurance remains an uphill task for them. What makes it worse is that these people need life insurance more than regular human beings.
Certain malaises impact a person’s insurability quotient. The inherent risk posed by these ailments makes insurance companies reject their proposals for insurance. However, the fact remains that these individuals are as normal as anyone else is. While they are not risk-free individuals, their ailments do not restrict them from leading normal lives otherwise. Bipolar disorders are an example of such ailments.
An individual approaches an insurance company and admits to suffering from a bipolar disorder. Insurers have a tendency to believe their voluminous database of statistics. According to these statistics, anyone who suffers from a bipolar disorder will commit suicide. Hence, they do not provide bipolar insurance to anyone having this malaise. However, they overlook the fact that there are two types of bipolar disorders i.e. I and II. Bipolar Disorder I is more serious than Bipolar Disorder II. Anyone suffering from Bipolar Disorder I will pose a higher risk. However, an individual suffering from Bipolar Disorder I can obtain bipolar life insurance. Certain insurance companies will consider providing insurance if the individual can prove that:
• The ailment is well controlled and,
• The individual does not have a history of demonstrating any serious behavioral traits or suicidal tendencies
Bipolar Disorder II is a less volatile disease than Bipolar Disorder I. While the latter can remain a risk throughout life, the former can produce excellent results, if controlled properly.
Another malady that insurance companies avoid is melanoma. These insurers will usually reject any proposal for melanoma life insurance. Usually found on the skin, melanoma can also occur in the eye. Doctors regard it as one of the most malignant forms of skin cancer. The human body comprises certain skin cells that give the skin its colour i.e. melanocytes. By producing melanin, melanocytes protect the deeper layers of the skin from the harmful ultraviolet rays of the sun. In certain cases, the skin could absorb a lot of ultraviolet radiation. This would make the melanocytes produce an excess of melanin. Eventually, the melanocytes will grow abnormally, thereby resulting in cancer. This explains why melanoma life insurance is hard to obtain.
However, this does not mean that no life insurance company provides cover to people suffering from melanoma. If the individual can provide information pertaining to their diagnosis, insurers will reconsider the proposal. Such information includes details like the:
• Age of the individual at the time of diagnosis of melanoma
• Number of years since the diagnosis
• Size of the tumor
• Presence of metastasis
• Presence or evidence of ulceration
• Stage and grade of cancer
• Recurrence of cancer after treatment, if applicable
Based on similar information, insurance companies can provide insurance cover to people suffering from this disease.