Guaranteed Life Insurance

High Risk Life Insurance

in Guaranteed Life Insurance,Health Problems

High risk life insurance is any type of policy that carriers a higher risk profile than a standard issued policy. Companies rate you as a higher risk for several reasons. The most common reasons are health issues and a hazardous job or hobbies. Since this type of policy is considered more risky than a standard life insurance policy, carriers charge more and may have some restrictions as well. The good news is that if you do the proper research, you can find the best carrier for your particular needs and get the most affordable high risk life insurance policy possible.

Companies will rate you for high risk life insurance for a few different reasons:

You have some major health issues (heart disease, cancer, diabetes, sleep apnea, etc.).
You have a risky profession or you participate in risky recreational activities (police officer, pilot, rock climbing, drag racing, etc.).
You have a history of moving violations or dui.

If your particular situation falls under one of these categories, then you may have been turned down for life insurance in the past, or you understand that it is more difficult to find an affordable policy. What most people don’t know is that there is a carrier that specializes in all areas. That means that if you have heart disease, then there are companies that offer more affordable policies than others. If you have had a dui, then there are companies that will offer you a policy sooner than others. The same goes with a hazardous occupation or hobby. The point is that there is a carrier and policy out there for everyone. Some companies even offer guaranteed issue life insurance coverage, which means that you are guaranteed to be approved.

Compare Your Options for High Risk Life Insurance

So if you are shopping for this type of policy, then the first thing you should do is shop around. Get a free quote and compare rates from several carriers. Then you can decide which company and which policy is best for your high risk life insurance needs.


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Type 1 Diabetes Life Insurance

in Diabetes Life Insurance,Guaranteed Life Insurance

If you need type 1 diabetes life insurance coverage, then you should know what your options are so you can make the most informed decision.

Options for Type 1 Diabetes Life Insurance Are Better Than They Used to Be

It’s no secret that diabetics can have a challenge when shopping for life insurance, but the options for type 1 diabetes life insurance are better since medical advancements have made diabetes control easier and more efficient. It used to be that a diagnosis of diabetes meant that no one would insure you, but there are now many companies who will offer a standard rate for diabetics who manage their blood sugar well.

Life insurance underwriting for diabetics focuses specifically on control and regular doctor’s care. An A1C of 7 and below is considered optimal. Underwriters will also look at whether or not you see your doctor for regular appointments, and what your other health factors are such as height, weight, blood pressure, and cholesterol levels.

Ratings for Type 1 Diabetes Life Insurance

Standard Rating: If your A1C is 7 or less and you have no other health issues, then some companies will offer you a standard rating, which is what the average person will pay.

Rated Up: If your A1C shows moderate control, but you have high blood pressure or cholesterol issues, then a carrier may offer you type 1 diabetes life insurance with a table rating. This means that you will pay 25%, 50%, or 100% higher than a standard rating.

Guaranteed Issue: If you have a high A1C coupled with other health problems like high blood pressure and high cholesterol, then you will probably be denied by most life insurance carriers. Your last option is a guaranteed life insurance plan. The rate will be higher and the maximum amount of insurance that you can get is $25,000. Your policy will also have graded benefits, meaning that your death benefit is not fully payable until year three.

The bottom line is that there are definitely options for type 1 diabetes life insurance coverage. You should know that there are certain companies that are known to be more reasonable with diabetics, while other carriers very rarely insure anyone who has type 1 diabetes. The key is to work with an agent who is knowledgeable about which carriers are better for type 1 diabetes life insurance. Make sure that your agent works with multiple carriers, and be upfront with them about your diabetes. Get a free quote today to compare multiple rates from carriers. If you have questions about your situation then call 1-877-801-4402 to speak with an experienced insurance professional about type 1 diabetes life insurance options.

Life Insurance that Doesn’t Ask Any Medical Questions?

in Guaranteed Life Insurance,No Medical Exam,Simplified Issue Life Insurance

Life insurance with no medical questions at all?

Not exactly, but close. Life insurance carriers are not in the business of just giving away insurance. While you might not find an application without any medical nosiness by the insurer, there are many policies that ask only a few health questions and do not require a medical exam.

No Medical Exam Insurance

These types of policies go through much of the same underwriting process as a traditional life insurance policy, except for one major thing- there is no actual physical exam involved. That means there is no blood drawn, no urinalysis, no height and weight check, and no blood pressure or cholesterol readings. The carrier relies on your answers to a set of health questions as well as information available in public databases to decide whether or not to insure you. The health questions can be as little as 4 to 5 questions or as many as 20 or 30. Some companies will want to know anything and everything about you. For example:

- Your health history
- What prescriptions you take
- Your family’s health history
- Your driving history
- Your occupation and activities you participate in
- Your height and weight

Those are just a few examples of information that a life insurance carrier will gather to get an overall picture of your insurability. The application and underwriting standards will vary from company to company.

Simplified Issue Insurance

This means that there is no exam and usually just a short application with a few health questions, hence the name simplified issue. The carrier will verify your answers with information on the Medical Information Bureau and prescription databases. Many carriers will require a phone interview and record your answers.

Guaranteed Issue Insurance

This type of life insurance policy is exactly what it says- guaranteed issue. The application can be as short as 5 to 7 health questions, and the company really just wants to know of any terminal illnesses, recent diagnosis’, and if you’ve had a recent heart attack. This type of policy is good for someone who has major health issues (though not terminal), or someone who has been denied for life insurance elsewhere. The benefits on a guaranteed issue policy will be graded. That means that the death benefit will not pay out 100% until at least two years into the policy. For example, if you die in year one, the carrier might pay your beneficiaries 25% of the death or sometimes only the premiums paid into the policy. If you die in year two, they might pay 50% or just the premiums paid in. This varies from carrier to carrier so be sure to find out the details of your graded payout.

Overall, a life insurance policy without a medical exam can be a convenient way to obtain life insurance. One thing you should know is that the rates for this type of policy are typically higher than a fully underwritten life insurance policy. The reason for that is because of the risk to the carrier. They are not checking your health out and simply relying on your honesty as well as public information that they can gather.

Can A Person With A Physical Disability Buy Life Insurance?

in Disability,Guaranteed Life Insurance

Are you injured or permanently disabled? Have you been unable to buy life insurance or are you worried that you can’t get life insurance coverage? Before you lose all hope for life insurance options, be sure to work with an experienced agent to explore all of your options.

There are dozens and dozens of life insurance carriers on the market and different carriers cater to different kinds of people. Although a person who is totally or partially disabled will have a tough time finding affordable life insurance coverage, it is not impossible. It depends on many factors including your age, the type of disability, other health issues, and the amount of coverage you are seeking. Ultimately, your life insurance application will be reviewed by an underwriter who will take into account your entire situation.

Get a free life insurance quote today to find out what your options are. Make sure you are upfront with your agent about your disability and any other health issues you have.

Baby Boomers Burial and Final Expense Insurance

June 29, 2009

The costs for burial and final expenses are increasing. What can you do? Many baby boomers may have to contend with the issue of costs of their burial and of final expenses once they are gone. If you have not gone over your estate and your final expenses yet, that is something you may want [...]

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Term Life Insurance for Cancer Patient

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