Thursday, Oct 25,2012
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Genworth Financial recently began a campaign to educate uninsured consumers on the reality of life insurance.
According to a recent study conducted by researchers on behalf of the large insurer, many consumers are uninsured because of outdated assumptions about the price of policies and whether or not pre-existing conditions disallow someone to obtain life insurance.
The 2012 Genworth LifeJacket study points out that many consumers are under the assumption that because of conditions, such as anxiety, asthma and high cholesterol, they cannot get life insurance. For those who believe they can obtain life insurance policies with these conditions, many are under the impression that they would be forced to pay a much higher rate.
Genworth is now working to make sure that consumers know that if their pre-existing conditions are well-managed, they are still eligible for insurance and will not have a substantially raised rate.
This study follows a report issued earlier this year by LIMRA, which stated that many consumers did not have life insurance because they believed it costs up to four times the actual rate.
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