Questions about general, life and private health insurers (2024)

FAQs

How to answer life insurance health questions? ›

Medical history: Your life insurance application will ask about significant medical conditions you have or have experienced including chronic illnesses, past surgeries or other major medical treatments. Be as specific and detailed as possible about each situation, its duration and your ongoing or past treatment.

Think deeply about the exact question the agent asked, and only provide that specific information. Never admit to fault. Never admit to even being partially at fault. Never admit that you are uninjured.

Life insurance provides coverage for a specific period of time or for the entire life of the insured, while general insurance provides coverage for a specific event or risk, such as damage to property, liability, or medical expenses.

LYING ABOUT DRUG USE OR TOBACCO & ALCOHOL USE

An applicant for life insurance must disclose lifestyle habits, good and bad, including use of alcohol or use of tobacco.

It may be tempting to adjust your answers on an application to get a better rate, but lying on a life insurance application constitutes insurance fraud. Intentionally omitting health information may result in your application getting denied or possible death benefits not being paid to your beneficiaries.

When you apply, life insurance companies will gather detailed information about you to determine the best type of policy for your needs. This information also helps them make decisions about rates and coverage options.

Many times, leading questions are used by organizations to persuade clients to make a particular decision. For example, if you wanted clients to sign up for an insurance plan, you could craft a leading question like: “When would you like to sign up for our insurance plan?”

An insurance is a legal agreement between an insurer (insurance company) and an insured (individual), in which an insured receives financial protection from an insurer for the losses he may suffer under specific circ*mstances.

What is insurance best answer? ›

Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursem*nt against losses from an insurance company.

Life insurance gives financial protection to the policyholder's family/beneficiary in case of the insured's demise. It also acts as savings, as you receive the lump sum amount at maturity upon survival. General insurance provides coverage for damages or losses to assets such as a home, car, or business.

Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.

General insurance is an agreement between a policyholder and insurer wherein the insurance company protects your valuable assets from fire, theft, burglary, or any other unfortunate accident. Often, general insurance is confused with life insurance.

Calculate how much life insurance coverage you need. Decide on your financial goals for your life insurance. Determine what type of life insurance best meets your financial needs. Find out if you need to add any "riders" to the policy.

Medical History. Most life insurance applications include health questions and inquiries about your medical history. These questions provide information about your expected lifespan and help the insurer assess risks associated with early death.

One disadvantage of life insurance is that the older you are, the more you'll pay for a policy. This is because you're more likely to pass away during the policy period than a younger policyholder and will, in turn, cost the life insurance company more money.