Life insurance is an extremely important purchase that will give your family the protection that they need if something tragic were to happen to you. Your policy will give them the resources that they if you were to pass away. Finding the perfect life insurance plan can be a long and frustrating ordeal, especially if you have any pre-existing conditions.
Before the insurance company accepts your life insurance application, they are going to decide how much of a risk you are to insure for a policy. The higher risk that you are, the more they are going to charge you for your coverage, or they may decline your application. Regardless of your health or any pre-existing conditions that you have, it shouldn’t keep you from getting the insurance protection that your loved ones deserve. We can give you quotes from high risk life insurance companies that will help you make the best educated decision for you and your family.
Getting Life Insurance with Pre-Existing Conditions
The worse that your health is, or the more adverse health problems that you have, the less likely the insurance company is going to give you affordable life insurance coverage. There are hundreds and hundreds of different diagnoses that you could have that would impact your life insurance. Luckily, in every situation, you will be able to get quality and affordable life insurance.
Regardless of your pre-existing conditions or how poor your health is, there are plenty of options for life insurance. There are dozens and dozens of insurance companies on the market that specialize in insuring different types of high-risk applicants with pre-existing conditions. For example, there are plenty of businesses that will offer people with diabetes much better insurance rates versus a traditional company with no experience insuring people with diabetes.
Additionally, there are plenty of insurance companies that insure high-risk applicants with severe heart complications or applicants with cancer. While the majority of companies would deny you coverage, some companies understand the conditions and have experience with high-risk applications, and they will give you affordable protection.
No Medical Exam Life Insurance
One option for anyone is to go with a no medical exam life insurance plan, which is exactly what it sounds like. It will give you the life insurance policy that you need, without being required to go through any of the medical underwritings that most policies have. There are several advantages to these types of policies, but additionally, there are some pitfalls that you should be aware of if you plan to purchase a no exam plan.
The one obvious advantage is that anyone can qualify for these plans. There almost no restrictions that will cause you to be declined for one of these plans. Regardless, if you’ve been rejected in the past, you can purchase one of these no medical exams and get the coverage that your family deserves.
Another advantage is how quickly that you can get life insurance protection for your loved ones. Unlike a traditional policy that has to go through the medical underwriting after taking the exam, with these plans you won’t have to wait several weeks for the company to get the exam results and calculate your premiums. Instead of waiting up to a month, you could get life insurance in a matter of days versus several weeks. If you’re looking to get life insurance fast, these are going to be your best bet.
One of the biggest problems that some applicants encounter with these no medical exam plans is that they are much more expensive than plans that require medical underwriting. With a typical insurance plan, the company will get an overall view of your health when calculating your premiums, without the medical exam, the don’t know how your health is or about any severe health complications, which means you are a much greater risk to insure.
The other major disadvantage to this type of policy is that there are strict restrictions how large of a plan that you can buy. With most insurance companies, you can only buy a plan that goes up to $250,000. For most people, that won’t be nearly enough life insurance coverage for your family, which means that you’ll have to either buy another plan or go with a medically underwritten plan for high-risk applicants.
Life Insurance for Seniors
One factor that could make finding a life insurance policy difficult is if you’re an older applicant. Your age is one of the biggest factors that the insurance company is going to use when calculating your risk and determining how much you have to pay for your coverage. Just like with pre-existing conditions, there are plenty of life insurance companies that are going to automatically decline your application if you’re over the age of 65.
There are plenty of companies that offer low rates to seniors looking for a quality life insurance plan. If you’re an applicant over the age of 65, there is one important question that you need to ask yourself before you buy a plan, do you still need life insurance coverage?
Once you reach retirement, you may realize that you no longer need a life insurance plan, but it’s vital that you have the coverage if you need one. If you have paid off your mortgage and you don’t have any massive debts, then you could consider dropping your life insurance altogether.
Another factor that you should consider before dropping your life insurance plan is determining if anyone relies on your paycheck. The secondary goal of your life insurance plan is to replace your annual income if you were to pass away. If you no longer have anyone that needs your salary, then you can consider going without your life insurance policy.
Getting Affordable Life Insurance Coverage
One of the most common reasons that people don’t purchase a life insurance plan is because that they assume that the coverage is too expensive, but that couldn’t be further from the truth. In just about every case, applicants are shocked to see just how affordable their coverage is going to be. There are several lifestyle changes that you can make to ensure that you’re getting the best rates for your insurance needs.
The first thing that you should do is improve your health. There are several ways that you can do this, as an applicant with a pre-existing condition, you should always follow your doctor’s orders to manage your condition. You should also take any medications or treatments that your doctor prescribes.
Another way that you can improve your health is to stick to a healthy diet and start getting regular exercise. Both of these are going to lower your weight, lower your blood pressure, and much more. All of these are going to help you secure lower insurance premiums for your policy.
The last way to improve your health is to eliminate any tobacco that you currently use. If you’re a smoker, you can expect to pay much more than a person that doesn’t smoke. The best way that you can save money is by cutting any tobacco out of your life. As an applicant with a pre-existing condition, being a smoker is going to decrease your chances of being accepted for coverage.
The best way to get lower insurance is to work with an independent insurance agent, especially as an applicant with a health complication. Unlike traditional insurance agents, our independent agents work with dozens of agents across the United States. We have years of experience working with some of the most highly-rated companies on the market, and we know which ones are going to view your condition more favorably. Every insurance company is different, and all of the companies are going to view your particular situation through a different underwriting process, which means you could receive drastically varying rates.
Life insurance with a Preexisting Condition
Life insurance is one of the most important safety nets that you’ll ever buy. If you were to pass away, your loved ones would be left with massive amounts of debt. Having a quality life insurance will give your family the money that they need, regardless of what happens to you.
If you have any questions about life insurance or about getting protection with your preexisting condition, please contact one of our agents today at 888-430-7668. We would be happy to answer those questions and ensure that you’re getting the best coverage for your needs. We know that getting life insurance can be a long and complicated process, but it doesn’t have to be. Our agents can make the process as quick and painless as possible.
You never know what’s going to happen tomorrow, so don’t wait any longer to get the protection that your family needs. Start the process today!