Insurance is one of the must-have financial assets. They protect your near and dear ones from financial trouble in case of your death. Since death can happen without notice during an accident, life insurance policies also cover death from accidents.
Buying insurance, though, isn’t simple. Providers like Global life and accident insurance have many qualification criteria you must clear to be eligible for the policy. Reviews and policy documents reveal what those conditions are for qualification.
The Qualification Criteria Generally Applied
Every insurer has its criteria for qualifying a customer. These can even vary by the policy. Expert reviewers like Gary P. Cubeta of Insurance for Final Expense deconstruct Globe life and accident insurance policy and others so that you will gain a clear understanding of what you must do and have to get the policy of your choice.
Age
Your age plays a huge role in qualifying for insurance policies. Many term insurance policies with accident covers are tailored to people between the ages of 18-50. Some might extend that upper limit, but it is sufficient to say that insurers want those in the productive age to opt for it.
This makes sense from the insurer’s standpoint. The younger the customer, the longer the payout will be for them. It is also people in this age group that drive vehicles, hence require it. Minors can also be sponsored by their parents/guardians.
Seniors, while being able to gain access, will have to compromise on coverage and high premiums.
Income
Not every insurer looks at your salary slip before qualifying you for the policy, but those who do ten to be rather strict about it. They will browse through your employment history and demand to know about your latest income. Based on the policy, or the coverage amount, and duration, the minimum salary will vary.
This is done to safeguard the interests of the insurer. If you can prove that you have no debts or are capable of clearing those debts while paying for the premiums, you will qualify for the policy. Make sure only to divulge the necessary information and nothing more.
Health Condition
This is an essential qualification for availing of insurance. This is why insurers conduct their health checkup of you when opting for their policy. Health-based qualifications vary based on numerous factors, but generally, the healthier you are, the better your outcome.
Some guaranteed acceptance plans will not need a medical checkup, but you will have to pass a medical questionnaire round. Some won’t accept a YES to any condition there, while others are more flexible.
General conditions that can be a roadblock are surgery needs, unhealthy habits, disabilities, chronic conditions, recent or present hospitalizations, etc.
Driving History
Bad driving history will automatically disqualify you or decrease your chances drastically of getting insured. Driving related felonies are a very serious blot on your history that will be checked for just such a thing. The lower your ticket count, the easier it is for you to get insured.
Globe life and accident insurance and others like it aim to protect your family against uncertain events and their consequences. Reviews about them aim to remove your uncertainties in qualifying for such policies.
You must be logged in to post a comment.