Have You Ever?

Image obtained from OTSW http://www.otsw.ca/faq/

No, this is not a game; although an insurance company can make it seem like it is. Chances are, you have had to answer questions like these at one time or another. If not, you will most likely need to answer these questions if you decide to apply for insurance. Two common examples of these questions are have you ever been tested for cancer and have you ever been tested or treated for high blood pressure. These statements are cryptic and perplexing for many people; as insurance companies often fail to elaborate on what the question truly means.
 
As an example, have you ever been tested for cancer is one of the most ambiguous questions a health exam can ask you. If you have ever had a mammogram or a prostate exam you have, in fact, been tested for cancer and need to answer "yes" to this question. Problems can emerge when you answer "no" to this question. If in the future you are to get breast cancer or colon cancer, the insurance company can make it harder for you to submit an approved claim.
 
The second question, have you ever been tested for high blood pressure, is another question many people unknowingly answer “no” to. Most of us have had our blood pressure tested at the doctor’s office by a manual blood pressure monitor. However, many of us do not see this test as a blood pressure test and will answer "no." The unfortunate thing about answering "no" to this question is should you experience blood pressure issues in the future, your doctor will note that they were tested for high blood pressure at some point in your medical history.
 
With the examples given above, it is easy to understand how confounding these questions can be. One of the ways insurance companies can offer cheaper premiums to their clients is to lower their risk. They accomplish this by limiting the number of people who qualify for coverage. Often, this is executed in the wording of the application, as noted above. If you are not knowledgeable about this loophole, you can fall into a scenario where you may not be covered, should the unthinkable happen.
 
At Broker Plus Insurance we offer mortgage insurance policies that have health questions only pertaining to the last 24 months. Our only “have you ever” question is regarding if you have ever been refused or charged higher premiums.  To ensure you are qualified, we will also send you an additional health questionnaire to help catch discrepancies or missed answers.  If you are interested in term life insurance, you will go through a full screening by the insurance company.  This enables us to know immediately if you do not qualify for standard insurance so that we can offer you one of our products where no medical is required.
 
Educating yourself about these pitfalls is one of the smartest things you can do before answering these health questions. Allow Broker Plus Insurance to assist you in taking the stress out of gaining insurance by requesting a free quote today!
 
To request a quote on the products we offer, click here.
Or call: 1-877-242-8820 and press 3 to speak with an insurance coordinator.