subject: Do I Need To Have A Medical Test Prior To Getting A Life Insurance Policy [print this page] The necessity of life insurance in Australia has certainly increased during the past couple of years. Australian life insurance market is competitive and they give a wide range of insurance coverage. In such a market choosing the right insurance coverage could be confusing especially when you don't have an insurance background. There are several considerations that you need to know before you get your policy. As an illustration, you should know if it's important to go for a medical examination or not.
Obtaining a life insurance policy is an important step. Similarly going through a medical examination with the intent to secure a life insurance is likewise critical. Although strongly recommended, these medical tests are not mandatory to acquire a policy. These medical tests are just used as a basis to evaluate the amount of premium to charge to the covered person. The insurance companies use a rather simple rule. If they determine that you will likely survive a few years then they are more inclined to charge exuberant amounts of premium to make certain that they have enough to cover the policy. Conversely, if the company assesses that you will possibly live for a long period of time then they will demand lower amounts of premium to the client.
The medical tests aren't hard and can even help you lower your premium payments. To make certain you've got a clean medical test make sure that you avoid eating heavy meals at least 8 to 10 hours prior to the test. Drinking a glass or two of water before the medical tests is wise. For the reason that it is highly likely that the urine sample is going to be necessary in the medical tests. Avoiding any type of fatty foods as well as alcohol no less than 36 hours prior to the test is highly recommended. Other than these avoid taking any medications that contains paracetamol and try to use loose fitted apparel during the examination.
Acquiring a life insurance policy is seen as important in Australia. Although, roughly 84% and 88% of the population insure their cars and home respectively, though the life insurance numbers are on the bottom side. The rest of the individuals who do get life insurance policies have a minimal amount that's not able to sustain their loved ones even for a year. The rates of accidents in Australia are also pretty alarming around 1,500 adults perish annually in road accidents alone. 1 in 4 and 1 in 3 men are also most likely to possess some type of cancer late in life, but prior to the age of 75.
Though getting a life insurance policy without a medical exam does seem like an appealing option most of the insurance companies in Australia necessitate a medical test for issuing any life insurance policy. You therefore need to check from the insurance provider first before you could go on with the application process.
The major appealing aspect of the no medical examination policies is that they are not time consuming and less expensive. Besides, the process of having the life insurance is likewise fairly simple and flexible. However, a primary disadvantage of this choice is that the insured amounts in many cases are quite under one would expect in a life insurance which includes a medical policy. Aside from this the predetermined premium amounts to be paid by the insured individual is likewise higher in a no medical life insurance. Therefore, just before getting a policy, examining the advantages and disadvantages of the options is suggested.
Life insurance has become a necessity in our lives. It helps the insured person to look after their loved ones even in their absence. This helps the family to continue to be economically stable despite the loss of a loved one. If you're confused of whether to get no medical life insurance or select a medical examination simply contact the insurance company for life insurance quotes. If you are too hesitant to go and contact them, then you can easily use the web to look for companies that offer free life insurance quotes online. This will also assist you in getting a peek at the premium payments that you will be expected to make in the future.
by: Jessie Andrews
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