Health Insurance Why do insurance companies reject old people for health insurance premium policy?

[sincerem]

It is not a new thing that old people aren't permitted to get health protection from insurance companies, they don't get endorse by insurance companies.


* What is the reason behind the rejection of the old going into health premium policy plan?

* Does it mean their deteriorating healthy life is the reason behind the rejection with health insurance policy?

In general, old people are risk to insurance companies in all ramifications of premium policy plan. They are viewed as threat to their policy plans. If they get insured by any insurance company via any premium policy plans, it is posing risk to the insurance company financially. Cos they see old people as prone to diseases, they can be attached by one disease to another, and its a big risk for the insurance to manage series of illness they incur. If they continue administering health treatment to the old, it means they're running charity organization of no profit.


Their deteriorating healthy life is part of their rejection to get projected into health premium policy plan. They are prone to diseases of all kind, which will make the insurance company to be over spending funds via their complicated health issues.

 

[Mika]

Well, isn't this obvious? Insurance companies are profit-making companies. They do not want to make a deal with something that will make them lose money. Unfortunately, old people are diagnosed with a lot of diseases. If they get a health insurance policy, insurance companies will end up spending a lot of money on coverage.

 

[btaliat]

Just like the first commentator said, old people will be like a liability to the insurance company and may even reduce the gain to be accumulated as s company but in a contrary, it will benefit the old category because naturally, they are prone to various diseases as a result of old age.

 

[Mandy96]

Actually, I really don’t know exact the reason behind the rejection of old people to get insured. But I think the reason might be the inactive lifestyle of old people I mean the usual old age health challenges that old people do face because there would be some attention needed from them that they won’t be able to carry out and the premium pay might be a little hard for them to keep up with.

 

[Bookwormlux]

I believe it is obviously due to the fact that they are aware of how probe these old individuals are to different disease conditions which then implies them getting to spend so much money on it. But I still think this can be handled by making such the older clients pay more for insurance packages.

 

[Setho]

It is not a lie that as people get older there is generally an increased risk to have some serious illnesses or to fall in very quickly. I have worked with a health insurance branch before and we do not reject old people and instead we only make them to enroll for the insurance covers separately where they are going to pay a different amount.

 

[Alexandoy]

I am surprised by this topic although I know that there is an age limit for the insurable person. When you are a senior of 60 years you can still get a life insurance but for a shorter term and a higher monthly premium. The actuarial figures would say that 65 years old is above the average life span of a human in this modern world.

 

[Wisdom01]

I think maybe they are more posed to health risks and others at any time , so they don't want to be busy with the covering and others of the risk attached , that's why they reject most old people offer when they come to buy an insurance cover for their health