In the last post, I have written the type of loading and exclusion you may be getting if you have health issues like Weight Problem, High Blood Pressure and High Cholesterol Levels. I have also written some simple guide to help you to ace (sort of…) the medical checks so that you can get the insurance coverage you need.

How are you finding it? Good? Useful?

If you have not read it, this is the link again and hope that you will find it to your benefit >> You Are Unhealthy For Your Insurance… What Happen Now? Part 1 of 2

And in this concluding post, I will be giving you a few more scenarios and also a simple guide to help ace that medical check. Enjoy…

What Happen When You Are Unhealthy For Your Insurance (Part 2 of 2)

So if you are unhealthy because you are suffering from:

Just Had An Operation

• If you had an operation either from the head to the toe, high chances will be that your application for both your life and health insurance will be postponed till a few years later (around 5 years after your operation), and also preferably that you are fully discharged and have a good medical report to support your application.
• This may sound unfair but insurance companies do have the right to protect their interests in any case that you can have a relapse in the near future. Their stand: It’s better to be safe than to be sorry.
• If you need that insurance coverage badly, it would be wise to have a good medical report and personal note written by your doctor to certify your current health status and also to provide some assurance. Next step will depend on the negotiation skills of your Advisor and also on the coverage amount of your application. Too high sum assured = High Chances of Rejection.

Gout

• In our context, Gout is usually termed as a medical condition belonging to the Rich. Reason being that most of the time, those whom we have served and who have this are mostly clients who have certain level of wealth status, enjoy good and rich good (e.g. liver) and have the need to entertain others.
• To process your insurance application, you will be required to go for a full blood test to check on your Uric Acid Level. And from your Uric Acid Level, you can roughly access your current health status as to how serious your Gout is or even the potential health risk you may be facing like Diabetes.
• If the level is moderately high, be expected to get some loading (an average of 25% onwards) and/or some exclusion (normally to your coverage for Total and Permanent Disability). Chances of removing the loading are quite slim as there is a high percentage of getting it back.
• To ace the medical checks, I will normally recommend a week of strict healthy diet (free from those animal internal organs and beans), exercise and plenty of fluids to help detox the body.

Growth, Lumps or Cyst

• Do note that a normal growth, lump there and there or even a cyst can lead to some exclusion to your insurance application, e.g. exclusion of breast cancer under a Critical Illnesses if there’s any lumps or cyst (even if its benign at the moment).
• On a lighter note will be a loading if you can produce a good medical report.
• The practice is normal as insurance companies are worried that the growth can become cancerous anytime soon prior to any plans for removal or operation.

If Both Of Your Parents Have The Same Illness Before The Age 60

• Even if you are perfectly healthy at the point of application, there will be a high chance of having exclusion or loading to the same illness as what your parents are having. Reason being that, there’s a certain percentage that it can heredity.
• If your parents got the illnesses after the age of 60, insurance companies are willing to take it on the note that its due to old age.

I would like to go on with more scenarios but as you can guess it… as long as you are unhealthy, you will be either getting a loading or exclusion for your application.

And somehow, I guess at this juncture, you may be feeling that its not worthwhile to get any insurance coverage with so much limitations and exclusions. Do note that different insurance companies have different treatment against medical conditions as it depend on their risk experience.

But what I can assure you is that, as long as it’s not a direct rejection, having a certain insurance coverage approved would mean that having only to pay a rather low premium, you have an instant coverage of “many-times” of what you have just paid. It’s definitely better than having that money kept at the local bank.

Also an additional note is that if you have any intentions to not declare your health conditions (be it minor or major), you may run into risk of having your claims (if there’s any) rejected as long as the insurance company – so be Truthful!

Lastly, instead of worrying all this, how about getting your insurance coverage when you are healthy now and when you are young as well so as to save the premiums on a long term basis!

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Congratulations on making that “big” decision to purchase your life and health insurance (after much budgeting and persuasion)!

But… You have became unhealthy for the application so what may happen…

After 4 years of being in this industry, I have came across a wide range of clients who have such health issues, and as their servicing agent, sometimes, its my duty and obligation to help negotiate for better terms so that they can go ahead and get the coverage needed!

Anyway the purpose of this post is not to comment on the negotiations that I have gone through (if you like to know for your own purposes, you can comment here and I will put up on the next post) but to let you have a rough feel that if you have became unhealthy, what will normally happen to your life insurance application when you really need to get one.

And if there is a need to go for a medical check, I will be offering a short guide on how to ace (not really 100% effective) the checks.

What Happen When You Are Unhealthy For Your Insurance (Part 1 of 2)

To list out all the illnesses and its complications to your insurance can be exhaustive so for this moment I will be giving a general overview of the common illnesses and what you can expect.

So if you are unhealthy because you are suffering from:

Weight Issues

• To know your current BMI (body-mass-index), you can click here to use the calculator. If your BMI is around 25, this is a warning sign but not much of a worry for your application. But should it be higher around 27 and below 30, be expected to get a loading of a minimum 25%. This loading can go as high as to 125% so be careful! This loading is necessary as many healthcare professionals link obesity to many potential health risks (= potential insurance claims)
• Are there any ways to tackle the loading? Afraid not as every medical checks will need you to take your weight. Unless you are very sure you need to get an insurance soon, and you are willing to exercise and lose some weight before the check.
• My suggestion is that if you are “really” okay with the loading, just take it on and once you have lost some weight to the normal range, you can ask for a removal of the loading later.

High Cholesterol Levels

• Cholesterol levels are normally associated with your normal diet. If your diets are rather protein-rich, be expected to have elevated cholesterol levels. How the doctor will check for your cholesterol levels will be through a full blood test (which you may have to fast for at least 10 hours). If you have a chance to go through the readings of your cholesterol level, you can refer to this site (What Your Cholesterol Levels Mean) to see if you are healthy.
• The complication for your insurance application together with a high cholesterol level is usually a loading. And you can also remove this loading if you are able to show a normal cholesterol level after a year or so in your routine health check.
• To ace the blood test, I will normally suggest to my clients to go for a week-long detox diet and exercise. During this period, you have to control whatever you are eating: Less fatty meat, more green vegetables, less eggs, more fruits, ample sleep and do some exercises like brisk walking and such.

High Blood Pressure

• One of the common problems that many clients face and is also known as a silent killer. Why is that so? Till date, there are no known causes for this condition and it may just come knocking on your door when you decide to do a routine health check.
• If you have done a check recently, if your blood pressure is less than 120/80 mm Hg, it is generally considered ideal. Levels higher than this may increase your health risk for cardiovascular disease.
• Once you have it, chances are that you’ll be on long term medication to keep it under control and many healthcare professionals deem this condition as a potential risk for Stroke and Heart Attack.
• When it comes to life insurance application, there’ll be a definite loading (normally higher than that of high cholesterol levels) and chances of removing this loading are rather slim as well unless you can prove a clean bill of health (without the need of medication) for the next few years.
• When it comes to health insurance, there’ll a high chance that an exclusion (anything related to High Blood Pressure will not be claimable) will be imposed.

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I was going through the insurance claims list of my company and was shocked to see that majority of the claims is due to Cancer-related.

The Thing About Cancer

What was even shocking to know is that Cancer can come knocking at your own door, even if you are just 2 years old or 55 years old when you are reading this and also regardless of whether you like it or not!

Cancer can strike anyone! So how prepared are you?

The #1 Killer:

• For Singapore Men is Colo-Rectum
• For Singapore Women is Breast
• For Singapore Children is Leukaemia

Cancer do not cause instant death and you may have to go through a few years of fighting. You either lose or win this battle! So do you have enough Critical Illnesses Insurance and Medical Insurance to last you through this?

If you are still ignorant about the effects of Cancer, there are many informative sites like the National Cancer Centre Singapore site >> http://www.nccs.com.sg/pat/08.htm (click this to read up on what Cancer is all about and its warning Signs)

What Causes Cancer?

There are no definite reasons on what cause people to have Cancer. It can just strike on anyone even if that particular person is perfectly healthy all the way (talk about the unfairness in life and I did seen a few live cases and its disheartening)!

Some Factors That May Contribute To The Risk:

• Tobacco (higher risk for second-hand smokers)
• Unhealthy Diet
• Alcohol
• Family History
• and Stress in life! (this is totally true!)

Know The 8 Warning Signs of Cancer (as extracted from NCCS website):

• A sore which refuses to heal
• A lump or thickening in the breast or elsewhere
• Any unusual bleeding or discharge
• Any change in normal bowel habits
• Any change in a mole (those innocent looking ones) or wart
• Persistent indigestion or difficulty in swallowing
• Persistent hoarseness or cough
• Unexplained weight loss or Fever

Do note that these signs are just some health warnings and may not mean Cancer, if any doubts, please consult a doctor at once! But before that ever really happen, please get some Critical Illness Insurance and Medical Insurance to take care of the huge medical expenses!

Methods of Treatment

Early detection and with appropriate treatments, the chance of cure and long-term survival is a real possibility. And Cancer is treated with surgery, radiation therapy, chemotherapy, hormone therapy or biological therapy. To learn the type of treatment, head over to this link >> http://www.nccs.com.sg/pat/08_07.htm

Are You (or Will You Be) Delaying Treatment Because Of These Side Effects?

All treatments come with side effects and most people (with the self-denial symptoms, lack of savings, and most important factor is having dependents needing the monthly income to survive) may wish to delay treatment and escape the side effects.

Side Effects like:

• Common for patients to feel tired or weak for a while after a Surgery. The length of time it takes to recover varies from patient to patient. The longer it takes, the higher loss of income.
• Tiredness, skin reactions such as redness, and loss of appetite due to Radiation Therapy. If you are tired, you will not be able to focus well in your working, therefore the loss of income!
• Nausea and vomiting, loss of appetite, mouth sores or tiredness after Chemotherapy. Chemotherapy is generally given in cycles: a treatment period is normally followed by a rest period, then another treatment period, and so on. Similarly, the long duration of not being able to work – loss of income!
• and much more side effects from Hormone and Biological Therapy…

My Advice: To get well soon, you really need to have ample rest and you have to get away from the stress in work! If you are worried about the loss of income, it’s always wise to transfer this risk to your insurance planning in a Critical Illness Insurance and Medical Insurance Plans.

How Much To Cover: A general rule of thumb is 5 times to 10 times of your annual income for your Critical Illness Coverage. To have an accurate value, work with your Financial Advisor on your needs.

For your medical insurance, if you belong to a middle-income earner or you want the best form of coverage, get a hospitalization plan that will cover you to Private Medical Institutions. Premium may be high but think of the Medical Bills you have to face for Chemotherapy sessions!

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