Speaker: Drew Browne, Specialist Financial Adviser @unusualrisks
Transcript: There are four possible outcomes for any life insurance policy.
Number one - it can be accepted at Standard Rates - now this means that the price that was quoted in the premium is the price you'll pay, the standard price.
The second outcome is where premiums are Loaded with a medical rating that might be because of a medical situation or an occupational situation where the risks have to be managed.
The third outcome is that a policy can be Delayed from finishing, because we haven't yet received the medical reports or the assessments that we require to be completed.
And of course a policy can also be Declined. A Decline can be because a medical situation is beyond what's possible to manage or an occupational category is beyond what's covered by that insurer.
Ether way, that's why you use a professional insurance advisor to help you navigate successfully through these four possible outcomes for your policy.