Talking about life insurance usually raises several questions. After all, it is a bureaucratic process and not everything is accepted when the deal is closed. Therefore, one of the main questions that are often asked is “what diseases does life insurance cover?”.
Thank you for reading this post, don't forget to subscribe!To answer this as simply as possible, we’ve prepared a guide full of information so you can stay up to date. Life insurance is essential to bring more security into your everyday life as it ensures that, should something happen, there is a specialized team to support you in all possible areas.
See how important it is? Read on to better understand how it works, what’s included and what’s left out of life insurance.
Can a terminally ill person get life insurance?
A very common answer when we talk about life insurance is: it depends. This is because there are some specifications that vary according to each insurer, without a universal standard.
This is the case of life insurance for people with terminal illness. Depending on the company providing the service, this is indeed possible. It is necessary to thoroughly and thoroughly analyze the form completed by the individual, but the fact that there is a pre-existing or terminal illness does not influence the denial of life insurance.
However, it is essential that the insured make this explicit during the application stage. The company takes this factor into account while it is still running the analysis process. One of the reasons for this is the possibility of the individual dying. In a case like this, it would be necessary to establish alternatives for how the payment reversal can be carried out and what clauses are involved around a delicate moment like this.
But generally speaking, people who are terminally ill can get life insurance, as long as it’s common knowledge. This is not even a reason to prevent the insurer from accepting the request, as we said earlier. The process involves several variables and terminal illness does not automatically exclude participation in life insurance.
What are critical illnesses in life insurance?
As with the question regarding terminal illnesses, this one also depends on each insurer. After all, it is the company’s responsibility to list which serious illnesses will be included
However, it is essential that the insured make this explicit during the application stage. The company takes this factor into account while it is still running the analysis process. One of the reasons for this is the possibility of the individual dying. In a case like this, it would be necessary to establish alternatives for how the payment reversal can be carried out and what clauses are involved around a delicate moment like this.
But generally speaking, people who are terminally ill can get life insurance, as long as it’s common knowledge. This is not even a reason to prevent the insurer from accepting the request, as we said earlier. The process involves several variables and terminal illness does not automatically exclude participation in life insurance.
What are critical illnesses in life insurance?
As with the question regarding terminal illnesses, this one also depends on each insurer. After all, it is the company’s responsibility to list which serious illnesses will be included in the life insurance coverage.
However, to give you a close basis, we have developed a list of the most common serious illnesses to be accepted on life insurance. Check out:
- Cerebral Vascular Accident (CVA);
- Alzheimer’s;
- Cancer;
- Bypass surgery;
- Multiple sclerosis;
- Acute myocardial infarction;
- End-stage renal failure;
- Limb paralysis;
- Organ transplantation.
But, as we said earlier, this list is just an example of serious illnesses that are usually accepted by insurers. In addition, it is also important to mention that the coverage of serious illnesses is made from the hiring of an external supplement, that is, it is not mandatory.
However, it is highly recommended, as serious illnesses can affect anyone, from the young to the elderly. When it is purchased, the insured person receives 100% of the contracted amount if he is later diagnosed with any disease on the list.
What does life insurance not cover?
In addition to wondering what illnesses life insurance covers, it’s important to keep in mind that the original package often leaves out some points. Below is a list of some of them, check them out:
- Alcohol and drugs;
- Death by accident;
- Suicide;
- Natural disasters, such as cyclones and hurricanes, for example;
- Temporary disability;
However, we reiterate what we said earlier: it all depends on the company in question. This is because some of these points can be included in life insurance by purchasing an additional package that has an extra cost, but which brings greater security, if the individual feels the need.
This is the case of death by accident, for example. In some cases, the contract only covers cases of natural death, such as those that occur due to illness or old age. However, there are insurers that allow the coverage of deaths by accident, transferring the established value to the beneficiaries of the policy, in case this happens.
Therefore, it is always necessary to be aware of the exceptions of each case. Even if the insurer reports that it covers deaths, for example, it may be referring to only one type, leaving the insured with no options if he is the victim of another type of fatal accident.
Can you get life insurance when you are sick?
One of the most common myths when we talk about life insurance is that only healthy people can take out the contracting process. This is not true! Anyone who has an illness, whether mild or more serious, can fill out the form requesting the purchase of life insurance.
In these cases, the most important thing is to inform, in a completely truthful way, what these diseases are. When we talk about more serious cases, such as cancer, for example, the additional serious illness comes into question. It takes into account some more serious diagnoses that can be, in some situations, even terminal.
Therefore, although it is not mandatory, it can be an interesting addition for those who want to feel even more secure.
Also, always keep in mind that life insurance can, yes, be hired by people who already have pre-existing illnesses. Be sure to take advantage of this great opportunity that brings security and stability to various situations that can happen constantly.
This is the case with serious illnesses, for example. It is estimated that 1 in 5 Brazilians will be diagnosed with cancer in its multiple variations. When we include other serious diseases in the list, the incidence is even higher; and not to mention the milder, more common illnesses that affect a large part of the population.
Therefore, life insurance is an essential contract that deserves greater recognition. To help throughout the process, from breaking myths to acquiring the service itself, Buy Security is available for your contact, either by email . Don’t just wonder what illnesses life insurance covers! Come chat and find out.
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