Some Points To Remember Before You Buy Insurnace?
Investors India|July 2018

For those who are not maintaining a healthy lifestyle, it’s still not too late to get insured. Here’s how?

Manish Jain
Some Points To Remember Before You Buy Insurnace?

The lifestyle and working conditions are taking a toll on the health of most of us. It is becoming common for most people to complain about health conditions once one crosses the age of 40. To make matter worse, there are many who not only overweight but also smoke, drink besides working in a high-stress job and keeping irregular hours. What’s more, they do not have any life and health protection for their family members. This makes them fall in the high-risk category when it comes to insurance coverage.

However, nothing keeps them away from being insured. Being overweight or a chainsmoker and a heavy drinker certainly puts them in a high-risk category as far as life insurance or health insurance is concerned. But, that does not mean one cannot get a life or a health cover.

Medical underwriting 

In addition to the financial underwriting that every insurer does to decide how much of life cover can be given to an individual, they also have in place the medical underwriting guidelines that help them to decide on the health profile of the individual. Some of the factors considered for placing a life on high or low risk health profile are height, weight, state of health, history of disease, amount of cover and the occupation. The insurer also carries out a series of medical tests to determine the health risks.

Pay extra ‘loading’ 

The high-risk people bring adverse risk into the pool and therefore the persons with good health stands at a disadvantage. Those who are not in the right state of health i.e. not within the insurer’s norms with regard to medical conditions are made to pay up extra.

This story is from the July 2018 edition of Investors India.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the July 2018 edition of Investors India.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM INVESTORS INDIAView All
Thematic Fund Or Sectoral Fund, Which Fund Suits You?
Investors India

Thematic Fund Or Sectoral Fund, Which Fund Suits You?

A thematic fund is a type of mutual fund that focuses on investing in companies based on specific themes or trends.

time-read
2 mins  |
October 2024
Be Kind To Your Kidneys
Investors India

Be Kind To Your Kidneys

The kidney is a vital organ in our body which is four inches long and two and a half inches in width.

time-read
5 mins  |
October 2024
Have You Included A Passive Fund In Your Portfolio Yet?
Investors India

Have You Included A Passive Fund In Your Portfolio Yet?

The assets under management (AUM) of passive funds recently crossed the Rs. 10 lakh mark. While a significant portion of this money comes from institutional investors, such as the Employees Provident Fund Organisation (EPFO), these funds are also gaining popularity among retail investors.

time-read
1 min  |
October 2024
Mutual Fund
Investors India

Mutual Fund

1. SEBI allows mutual funds to buy and sell credit default swaps (CDS)

time-read
4 mins  |
October 2024
Insurance News
Investors India

Insurance News

1. The finance minister has launched a new NPS scheme named NPS Vatsalya

time-read
1 min  |
October 2024
ASK THE EXPERT
Investors India

ASK THE EXPERT

Dear Sir, I attended your webinar on post-retirement financial planning. As advised by your good self, I invested in NPS after retirement.

time-read
3 mins  |
October 2024
Market Mystery: Some Important Investing Lessons from Fund Managers Themselves
Investors India

Market Mystery: Some Important Investing Lessons from Fund Managers Themselves

Mr. Mahesh Patil is the Chief Investment Officer (CIO) of Aditya Birla Sun Life AMC Limited. As the CIO Mahesh oversees INR 3 lakh crore of assets under management.

time-read
6 mins  |
October 2024
How to make a cautious entry into equity funds during a bull market
Investors India

How to make a cautious entry into equity funds during a bull market

The number of mutual fund folios has been rising, with flows via the systematic investment plan (SIP) route reaching new highs.

time-read
4 mins  |
October 2024
All that you need to know to kickstart your retirement planning process
Investors India

All that you need to know to kickstart your retirement planning process

We all enjoy planning for the future. It’s a good idea to plan ahead of time for anything, from the day’s activities to a vacation.

time-read
5 mins  |
October 2024
5 Steps To Achieve Your Financial Goals
Investors India

5 Steps To Achieve Your Financial Goals

From a beach house, a Jaguar, to traveling the world – there are many things in life that we want to accomplish.

time-read
3 mins  |
September 2024