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What
is Canadian Insurance Company "rating" and why is it important?
Canadian
insurance
companies
take a risk when they offer a policy to their clients.
Why is this? Well, because Canada insurance companies are
in the business of insuring you, but also they are in
the business of making money. An insurance company
will soon go out of business if they pay out more than
they take in.
The risk
they take is that your state of health is not as
presented, and will cost them more money than they will
make. Canadian insurance company "rating" ranks
clients based on medical examinations and the state of
their health. If a person is suffering from an ailment
they may not qualify for the same insurance
company rating as a perfectly healthy person would.
Age also
has a bearing on ratings as the older we get, the
more we may need medical treatment and face death. Young
healthy people will rate higher and qualify for lower
premiums than older ailing people....more
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