If you or someone you know has a medical condition, you likely already know that this can make it more difficult to find term life insurance coverage that's affordable or to even be accepted for a policy all together. Luckily, for those among us who are or have been sick recently, there are options when it comes to life insurance. The solution for your life insurance difficulties could be guaranteed issue life insurance. While this type of policy is a beneficial option for those that need it, it won't be the solution for everyone. Here's why:
We have life insurance companies that offer guaranteed issued life insurance to anyone between the ages of 40 and 80 years of age. The death benefits offered can be from a little as $5,000 all the way to $35,000.
No medical exam is required and only a few health questions must be answered. You acceptance regardless of your health is guaranteed.
When you purchase this type of policy, you will pay for the ability to skip the medical questions and medical exam that's compulsory with a regular type of insurance policy such as term life insurance. The thing is, you will likely pay much more than you would had you bought a regular policy and so guaranteed issue isn't necessary for every insurance shopper. If you're young and healthy, it's best to save your money and do the medical exam.
If guaranteed issue just won't suit your budget, there is one other solution available to you. If you were turned down for a regular policy because you recently had a heart attack or other medical event, you can wait a couple of years and then re-apply. With time and doctor's check-ups that show your health is improving, you will have a much better chance of being accepted for an affordable policy.
With most guaranteed issue policies, there's a two year period where, if you die, unless it's as a result of an accident, your beneficiaries will only receive the amount you paid in premiums plus interest.
If you still think that paying to by-pass a medical examination is well worth the extra money spent, contact the team of agents at TermLife-Insurance.com for more information. They can answer any questions you may have and it's possible that they can also help you save more money off the price of a policy.
Help your loved one's with the burden of final expense with a Guaranteed Issue Life Insurance policy. Funerals today can cost anywhere from $7,000 to $25,000. A final expense policy will help your family pay for the unexpected expenses of death. We represent more final expense life insurance companies than anyone else. Term Life Insurance is not the only thing we specialize in.
Give us a call today to get a quote in less than five minutes.