There are four possible outcomes for any life insurance application.
- See the video transcript below
Video Transcript:
Speaker:
Drew Browne, Specialist Financial Adviser @sapiencefinancial
Transcript:
There are four possible outcomes for any life insurance policy application.
Number one - it can be accepted at Standard Rates - now this means that the price that was quoted in the premium is the price you'll pay, the standard price.
The second outcome is where premiums are Loaded with a medical rating that might be because of a medical situation or an occupational situation where the risks have to be managed.
The third outcome is that a policy can be Delayed from finishing because we haven't yet received the medical reports or the assessments that we require to be completed.
And of course, a policy can also be Declined. A Decline can be because a medical situation is beyond what's possible to manage or an occupational category is beyond what's covered by that insurer.
Either way, that's why you use a professional insurance advisor to help you navigate successfully through these four possible outcomes for your policy.
---end transcript---
Video Links
- Life Insurances
- Income Protection
- Total & Permanent Disability
- Crisis / Trauma Recovery Insurance
- Severity Based Insurance
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