Don’t assume that you won’t be able to get coverage because you’re living with a serious illness, injury or existing medical condition, such as diabetes, heart diseases or a fused spinal cord. Many insurers, depending on the severity of the existing illness or injury, can still provide insurance cover with either an exclusion, a premium loading or full cover.
Even if you’ve been declined by one company, that doesn’t mean other insurers also will decline coverage. What’s more, one company may cover you if you pay an added surcharge known as a premium loading, while another may charge you its standard rates. For instance, one cholesterol reading might not give you a standard rate with one company yet qualify you for a preferred rate with another.