5 Most Common Myths about Life Insurance Myths

Frequently Asked Questions

At What Age Should I Get Life Insurance?

Although you might think that you don’t need it, your 20s and early 30s are the best times to get a life insurance policy. If you apply for a policy when you are young and healthy, you will get the benefit of lower premium because you pose minimal risk to the insurer. 

Will I be Able to Get Life Insurance if I Have a Pre-Existing Illness?

Yes, you are eligible to purchase a life insurance policy if you have a pre-existing illness. But there are certain terms and conditions. The most important being the waiting period clause for pre-existing illness. You might also have to pay a comparatively higher premium as you have higher chances of getting sick and incurring high medical expenses.

Is There Any Kind of Death That a Life Insurance Doesn’t cover?

Most life insurance companies pay out the death benefit to the beneficiaries for most causes of death. However, some policies might not provide coverage for death due to a high-risk activity, acts of terrorism, suicide, criminal activity and accidents occurred under the influence of alcohol.