We all care about our family, or businesses we own, and want to protect them once we are deceased. Life insurance truly provides peace of mind, and can guarantee that your financial objectives will be completed at the time of your death. This isn’t something fun to think about, but is extremely important.
Many people feel that with previous or current health issues, getting life insurance is impossible, or is too expensive. Good news! Insurance companies have evolved, and their underwriting guidelines aren’t as restrictive as they were in the past.
Life insurance options are now available to people who have history of Cancer, Heart Attacks/Strokes, Mental Disorders, Liver/Kidney Disease, and even Diabetes.
According to The Life Happens Organization, most people think about Life Insurance, and feel they need it to protect their families. However, only about 59% of these people have taken the necessary steps, to secure life insurance. Many people have misconceptions that prevent them from considering coverage, or even beginning the life insurance application process.
Here are some sample excuses that people may have:
- Heart Attack in early 40’s
- Mental Disorders
- Kidney and/or liver disease
- History of Cancer
There are hundreds of health concerns that could make you believe that life insurance is not obtainable or is too expensive. But that’s simply not the truth. We want to prove this not true, and let you know to not give up hope!
We now want to provide some examples of how people can obtain affordable Life Insurance, and dispel the myths that they cannot qualify. If working with an independent insurance agent who is properly trained, almost all types of health issues can be overcome. Based upon a person’s complete health profile, there most certainly will be an insurance company who can provide insurance coverage at an affordable rate.
First example: A person has Diabetes (very common) and may not have the best control of this condition. Perhaps they have a diabetic related complication. Maybe this person has heard rumors that getting coverage is too expensive for diabetics. The reality is, life insurance for diabetics has never been less expensive. Rates are at an all time low, and diabetic life insurance is easy to obtain.
Another example: Let’s say a man in his early 50’s had a severe heart attack a few years back, and even had a stent placement. Surely, he could not be approved for coverage. In all actuality, with the proper follow ups from Cardiologists, as well as making lifestyle changes, he is insurable. No matter what other insurance agents or companies tell you, you can get coverage after having a heart attack!!!
One common health condition that people may go thru is Cancer. After surviving, and undergoing proper follow ups, you can still obtain Life Insurance. Not all companies view cancer survivors the same, so please do not believe an insurance agent who says you cannot obtain coverage. If you’ve been cancer free for 2 years or longer, you will have a plethora of choices.
What about Mental health issues? If you have Bi-Polar Disorder, anxiety, depression, can you get life insurance coverage? Absolutely. Assuming a person has not attempted suicide, or caused bodily harm, getting insurance should not be an issue at all. More than likely, you could apply for coverage thru what we call a “non-medical exam” policy. Insurance companies are mainly going to be concerned that you are able to hold employment, and the mental disorders are having no impact on your day-to-day activities.
Sometimes people don’t just have one major health issue. Maybe they have a combination of health issues. Again, please don’t be discouraged. Certain insurance companies are designed for people with multiple high-risk health issues.
Policies known as Burial Insurance Policies have built-in underwriting to accommodate those not in perfect health. Their underwriting will take people that most traditional life insurance companies will not. The downside is, these policies that are designed to cover final expenses and burial costs may only offer up to $50,000 or $75,000 of coverage.
And if you are currently undergoing treatment for Cancer, Heart Disease, Lung Disease, Kidney Disease, or even Alzheimer’s, there are still life insurance options. Amazingly, a person is still eligible for guaranteed life insurance policies with these ailments. Like the name sounds, any person age 40 to 85 can qualify. These products ask NO health questions, and you are guaranteed to be accepted.
No matter what your health concern is, we want you to be aware that you may have options. Just because one insurance company or agent told you that you don’t qualify for coverage, please don’t get discouraged. There may be options for you. Don’t ever stop trying to find this important life insurance coverage that your family deserves.