We sometimes hear form clients and commentators that ‘insurers always want to get out of paying’, and ‘they never pay out’, etc.
Whilst this may be a popular form of belief, it is completely unfounded. I am by no means an Life Insurance company sympathiser, but I do have a problem when things are spoken out that are not true.
The media tends to grab hold of instances where insurers dont pay, particularly in the case of natural disasters, and with every right when it happens.
But Life Insurance companies seem to get bundled in with the rest of the ‘rabble’, which is like saying that all politicians are corrupt because of a few (ok, maybe a bad example there). But in all seriousness, the life insurance industry paid out more than $3.5B in 2010 alone. That’s $9M a day!
Generally, there are only a few reasons why a Life Insurance company wouldn’t pay a claim. Most importantly, telling the truth to the insurer at application stage will save alot of heartache and disappointment. To counter this popular thought process, we thought Lance Armstrong could share a few home ‘truths’ to help you secure the right protection and help a successful claim to be paid.*
Lance Armstrong gives an example of what to do when applying for a Life Insurance or Income Protection policy
- Use a trusted Adviser – One with experience with Life insurance (Unlike Lance’s Dr: Article Here)
- Disclose your past history – From the best of your knowledge, try to disclose your previous medical treatment, including medication (Lance’s medication)
- Declare any drug use or substance abuse – Jarickson Life Insurance Advisers have seen and heard almost everything when it comes to medical questions. Even if you have had a colourful past when it comes to this subject, you won’t be judged, and insurance can still be offered to you. Talk to one of our Advisers today if you are unsure.
To speak to an adviser, please call us direct on 1800 674 435