Health And Retirement
In planning for your retirement, buying disability, health or
long-term care insurance is important. The insurance company
would usually want to know a lot about you. You will be
classified based on your habits, medical records and family
history.
You have to have an understanding of your own health. The
biggest factor in determining the insurance cost is your health.
Here is some advice from insiders to get the best health ranking
possible at lowest possible rates: 1. Tell the truth
Hiding some facts on your health will not help you. First, the
insuring company will eventually find out because they do have
your records. They will presume that the problem is serious,
since you did not mention it. Worse, withholding info the
company regards as important could lead to the cancellation of
your policy.
Give the insurance company your complete health history. But do
it under your own terms. For example, don't just say that you
have high blood pressure. Inform them that you have been
diagnosed with high blood pressure several years ago and have
kept control of it.
Give them complete information and reduce the uncertainty, then
eventually you would get a good deal.
Be careful on how you say things, a hesitant answer would seem
that you are hiding something. Be as clear as possible with your
replies.
Ask what the ranking is based on. There would generally be
criteria in determining the health ranking and it varies from
one company to another. Determine your ranking in a specific
company and why. This helps you get a better picture and
hopefully and decrease your premium. Canvass for the best rates
possible but know that the rate is just one consideration.
2. Your doctor can help.
Inform your physician. Insurance companies would want to talk
with your physician and look at your records. If not that, they
would at least look at your records at the Medical Insurance
Bureau.
Your best move is to inform your physician that you're applying
for insurance. A forewarning helps in ensuring that the
insurance company gets noticed and gives you in return a
favorable rating.
Ensure that the company gets a complete record, especially if
you have moved from one doctor to another. The insurance company
wants all of your health records to get a complete idea of your
state of health.
Inquire discretely. Too much inquiry might raise a red flag on
you. Try to get an agent to do the shopping for you. Choose your
insurance broker carefully. Just like other professionals,
they're not created equal.