Are You Insurable?
Most life insurance requires medical exams, blood tests, and/or health records before a policy is issued. If you have health problems, life insurance companies may deny your application, or they may charge a higher rate. This is similar to how car insurance treats drivers with bad driving records.
A lot of people are not insurable and may not know it. 1 out of 2 men and 1 out of 3 women have the risk developing cancer in their life time. 90% of Canadians having at least 1 risk factor of heart disease or stroke.
Thus, if you have the need, buy life insurance as soon as you can while your healthy and insurable. Buying early is also wise because you may qualify for better rates.