• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • HOME
  • HEALTH TALK
  • EXPLORE PHILIPPINES
  • TRAVELS ABROAD
  • TRAVEL TIPS
  • MONEY and TECH
  • REVIEWS, NEWS, EVENTS
    • Travelistas Corner
  • EXTRA! EXTRA!
  • About Cille
  • Contact

Penfires

Life, Travels, and Stories

You are here: Home / MONEY and TECH / Life Insurance Apply While Young and Healthy, Avoid Being Denied

December 19, 2020 By Cille Anne Leave a Comment

Life Insurance Apply While Young and Healthy, Avoid Being Denied

get life insurance
Apply for life insurance early for lesser premium and high chance of approval.

I am a firm believer in insurance. No, I am not an agent, let’s get that out first hehe. 

For those who are already earning and have set-up an emergency fund, next to seriously consider is getting yourself insured, as soon as you can. 



Why? Because it could be that in the future when you become interested to get a life insurance, your application will not be approved by the insurance company due to pre-existing conditions. 

Two people close to my heart experienced this. Their life insurance applications were denied because at the time of application they are already suffering from various illnesses namely diabetes, hypertensive, hypothyroidism.

  • Friend 1 is diabetic hypertensive. Life insurance application denied by Sunlife.
  • Friend 2 is suffering from hypothyroidism and high BP. Life insurance application denied by Prulife.

Both my friends underwent the company sponsored free medical check-up and lab tests and both were found to have health issues, hence, their application for life insurance were denied.

Lesson: Apply for life insurance while young and healthy. Don’t wait too long, avoid being denied.

One advantage of getting insurance as soon as possible is that the insurance premiums are cheaper if one is young at application age. Premiums will be higher the older one gets, even for the same benefits and package.

Those who are in their 20s and early 30s, please start thinking of getting life insurance now. 

Last year I was hospitalized twice for major operations. I’m okay now, praise God!  Anyway, because I have life insurance with daily hospital income benefit rider (HIB), I was able to file a claim from Sunlife, my insurance company after I was discharged from the hospital. HIB is just one of the many possible benefits of insurance. I also recommend getting Critical Illness rider to the life insurance. 

Aim for Additional Income Streams To Help The Finances

I know it is very difficult to consider insurance if one is burdened with the kid’s tuitions, when one’s salary is just enough to get by, when one has lots of bills to pay, when a family member is sick, etc. I pray that whoever is reading this and who are finding it hard to juggle all bills at once right now, that may you find another way to earn or have multiple new side gigs or businesses. An additional income stream(s) is the quickest way to triumph over financial burdens, for life to get a bit easier money-wise. 

For those who are doing well financially but who doesn’t think about insurance yet, I hope you take time to study about it and pursue it. Life insurance is a gift to yourself and to your family. 

But here’s the caveat, if you don’t have emergency fund yet, focus your energy and resources in building one before you get an insurance. The reason behind this recommendation is that what if you are approved for insurance and you begin paying the monthly, quarterly, or annual premium, then all of a sudden, in the middle of the year, you got laid-off from work, and you have no emergency funds. 

Remember that the insurance bill will still keep coming and coming until end of the paying period. The insurance company will not defer the billing on the ground that the client doesn’t have work. If you can’t pay the premiums and after the grace period lapses, your insurance contract might be voided and all premium payments made might be forfeited. Now, if you have emergency fund, you can still pay the premium dues. 

For better financial standing, first step is to build an emergency fund, once that is secured, then the second step is to apply for life insurance.

Before signing up for an insurance plan, evaluate various offers from different insurers and then choose the most fitting life insurance for you. Here’s hoping you will get approved when you do apply. Cheers!

SHARE:

  • Tweet

Like this:

Like Loading...

Related

Filed Under: MONEY and TECH Tagged With: Apply for life insurance, Financial Lessons, Life Insurance, life insurance application denied, Life Insurance Denied, life insurance denied for diabetes

About Cille Anne

Life Update:

Hi, my name is Cille and this is Penfires.

Life has given me a new tough battle to conquer, but it's okay, for God is with me. Thank you Lord Jesus for not letting me go.

I am a breast cancer patient, soon to be a survivor, and an advocate. Definitely, a warrior!

I am surrounded by love, support, and lots of prayers from family, friends, and communities. Daghang salamat sa inyong lahat. ❤🙏

COME SHARE WITH ME, MY JOURNEYS, MY BATTLES, MY TRIUMPHS, MY LIFE.

Much love,
~ Cille

Original Content:

This blog is maintained, written and edited by she - who likes to travel a lot, more like wishes to travel a lot, doesn't want to miss a photo-op, loves the rain, certified chocoholic, coffee keeps her sane - it runs through her veins, she doesn't know how to swim, but wants to dive in Tubbataha all the same haha

~Come share with me, my travels, my stories, my life.

My name is Cille. AND THIS IS PENFIRES. :)

Reader Interactions

Share your thoughts:Cancel reply

Primary Sidebar

Let’s feed that wanderlust, Travel Bugs!

TravelBugPH
Our Travel Agency offers Travel Packages, Airline and Boat Ticketing, Visa Processing, and Travel Insurance. Thanks for considering us!

Recent Posts

  • Easily Redeem and Convert PLDT Crystals to SMAC Points
  • A New Venture – A Family Business
  • Process and Requirements to Apply for PCSO Medical Assistance 
  • Coop HMO – Cheaper, Comprehensive Health Plans via Cooperatives 
  • The Cebu Mactan Airport Tourist Van Fee is Regulated by Tariffs 
  • About SM Skating – Rates, Schedules, Promos, Plus Learn to Skate  
  • Cebu Pacific Promo Tickets and Piso Fare with Travel Booking Tips 
  • Fast Approval SSS Disability Claim – I Got 23 Months of Pension 
  • Requirements and How to Apply for Medical Assistance in OVP Office of the Vice President 
  • Cille, FIGHT!
  • TRAVELS ABROAD
    • Hong Kong
    • Japan
    • Korea
    • Macau
    • Malaysia
    • Singapore
    • Taiwan
    • Vietnam
  • EXPLORE THE PHILIPPINES
    • BAGUIO
    • BALER
    • BATANES
    • BOHOL
    • BONTOC
    • BORACAY
    • CAMARINES SUR
    • CAMIGUIN
    • CAVITE
    • CEBU
      • BANTAYAN ISLAND
      • CAMOTES ISLAND
      • CEBU CITY TOUR
      • CEBU NORTH
      • CEBU SOUTH
      • MACTAN ISLAND
    • CORREGIDOR ISLAND
    • ILOCOS
    • LAGUNA
      • CALAMBA
      • LILIW
      • LUMBAN
      • MAJAYJAY
      • NAGCARLAN
      • PAETE
      • PAGSANJAN
      • SAN PABLO
    • MANILA / NCR
    • MARINDUQUE
    • NEGROS ORIENTAL
    • PALAWAN
    • PAMPANGA
    • QUEZON
    • SAGADA
    • SIQUIJOR
    • SORSOGON

Subscribe to Penfires!

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Penfires Logo and Header by

Come share with me, my travels, my stories, my life! I am Cille and this is Penfires. :)
Pen VitsSupp

Copyright 2024 @ Penfires. *Disclosure.Privacy Policy

%d
    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok