Is Telemarketer direct insurance good for pre-existing medical conditions?
No. For most people with a pre-existing health condition, it’s an automatic decline. This then triggers a formal decline record.
- This is a problem because you would then have to disclose this fact on every single new insurance application for the rest of your life.
- Failing to do so would give a company legal grounds to avoid paying out your insurance claim.
Did you know that one of the common telemarketed direct life insurance products in the market today, has an exclusion for pre-existing conditions for the first 5 years? Additionally, the company will use retrospective underwriting to see if you were eligible for the policy in the first place, not when you take the policy out, but at the time of claim.
- This means, that if you are assessed as ‘never eligible for the policy in the first place’ when you make a claim, the insurance company has the option to refund any premiums paid and simply state ‘you were never eligible for the policy in the first place so you were never insured, so there is nothing to claim'.
If you want absolute certainty and peace of mind, get your life insurance from a professional Risk Insurance Adviser, not the local bank clerk or a telemarketer.
>When you understand the significance of this issue alone, you will begin to appreciate the value of a professional relationship with a speciality Risk Insurance Adviser from unusualrisks.com.au who is there for you and your loved ones at the time of an insurance claim.