A policy is taken by those who care to secure their loved ones after their death. Are we all eligible for a policy? Well, the company that insures decides. Depending on your health, job, habits and age, the insurer decides how safe candidate are you, and accordingly plans your policy. Most insurance companies ask for your job and salary details. This will help them understand the nature of your work and also help them calculate the premium that you need to pay.
Everyone's job has a different nature, some work in difficult conditions. Those in mining, working in chemical factory, Construction Company or having night jobs etc will be specially analyzed. This is because, there are a lot of occupational hazards and occupational dangers and health issues that accompany certain work atmosphere. Work pressure, style and the stress is cause of a number of ailments.
The insurance company also needs to know your life style. If you are a smoker, and since when you have been considered. Are you a social drinker, a tee-to-teller or addicted to alcohol, a vegetarian or non-vegetarian? Thus your living habits are analyzed to evaluate the status of your health present and in future too. Among those obese are the high risk groups. Chances of health issues heart ailment is the highest in obese.
Based upon these critical facts the insurance premium is quoted to the individual. The younger your age the less can be your premium. Medical check up is asked to determine the health status, so as to decide the premium eligible. There are cases where the medical exam is excused. This freedom to the policy owner is given in cases where he is a nonsmoker, lives on a healthy diet rather than junk food. The policy applicant should not be an alcoholic, although alcohol in moderation is ok. People with-in 40 yrs of age can be applicable for this loan, who works in a comfortable work atmosphere and not late night shifts which is stressful. The only draw back in policy that is given without medical exam is that the premium rate quotes are likely to be higher.