<strong>Reader’s Question:

I am just wondering if the insurance industry has lifted some of its limitations which used to discourage people with illness in the past. For example, I live in Reading, Pennsylvania, what would be life insurance options for me if I had a serious illness?

Amy

Reading, PA

Hello, Amy! I hope this is a fine day for you, it certainly is for me!

I may sound too biased here but I certainly believe that America has something to offer to all its citizens. And certainly insurance companies in the country (including those in Reading, Pennsylvania), have recognized that to sustain business, it has to cater to the changing needs of the consuming public.

Recent studies show that more and more Americans are contracting life-threatening illnesses over the years, perhaps owing to the change in lifestyle and eating habits. Depending on the type of illness, there are various life insurance packages now offered for customers. But this is not to say that the insurance companies in Reading, Pennsylvania have totally turned their backs on the wisdom of risk management. Still, insurers are conservative and will not take risks that are simply too high for them. For example, someone with terminal cancer may have a really hard time getting life insurance, if at all. This is because the risks are just too high for the insurance companies to take. You have to appreciate that insurance companies have a very high accountability to its policy holders and obviously they will not take on deals wherein they are sure to pay hundreds of thousands of dollars for a policy that was probably bought with just a few thousand dollars. But for diseases that have a high incident of full recovery such as prostate or breast cancer, it will not be too hard to get a life insurance that will cater to their needs.

Just to summarize, Amy, if you are suddenly stricken with a serious illness, you still have life insurance options, made particularly for people with serious illnesses.

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