One of the biggest obstacles which stand between people and obtaining life insurance is health, especially finding life insurance with multiple medical conditions. I speak with many people on a daily basis who think they are completely uninsurable simply because finding life insurance with multiple medical conditions is too difficult.
A major issue which exists in the life insurance industry is the outpouring of bad advice from so called “professionals” and “advisors”. It is a sad reality when a life insurance agent is unable to find someone who has health issues a policy, and just tells them they are uninsurable. It is bad advice, and often times it is very incorrect.
Your consideration for life insurance approval is based upon a few different factors such as age, sex, occupation, hobbies, and the most talked about, health.
When you apply for a traditional life insurance policy you are asked on the application about your medical history both past and present. Being truthful on the application is definitely the right thing to do since the next step will uncover anything you may have omitted.
Upon receiving the life insurance application, the company underwriter will review the medical information, along with you medical history which has likely been obtained.
Often times, the underwriter will then request an APS (attending physician statement) from any medical professionals where more information is needed. This gives the underwriter a better look into the details of any condition or medical history.
Underwriters will then compare your medical history to their underwriting charts based upon any medical conditions and the severity and treatment of such.
As experienced life insurance agents we are very good at projecting what your rating (and premium) could be if you only have one medical condition, but things become more difficult when projecting life insurance with multiple medical conditions.
Most people we speak with come to us because they have been declined for coverage and they are not sure if they can find coverage elsewhere.
When you are looking for life insurance with multiple medical conditions, the last thing you want to do is just apply with just any company without doing your research. A well kept secret in the life insurance industry which the general public isn’t very aware of is each life insurance carrier has different underwriting tables and will accept different risks, at different prices.
If you have multiple medical conditions the last thing you want to do is just apply with any carrier and hope for the best. When you are declined for life insurance coverage, this information is available to all carriers moving forward on your MIB report.
Our process of working with those who are looking for life insurance with multiple medical conditions consists of asking questions in order to complete understand your medical history and anything you are currently experiencing.
Next, we will relay your detailed responses to life insurance underwriters (anonymously of course) who represent carriers who will be a good match for your particular situation. Within 24-48 we will receive responses regarding what rating you can expect, and what premiums will be available for your desired policy.
If you have multiple medical conditions and are curious about life insurance, please get in touch with us and we would be happy to help you, or a loved one.
If you get nervous about traveling abroad and it would make you feel better to own life insurance for traveling abroad their are some things you should know before booking your trip. Taking some simple steps before your trip can help make sure you get the best deal on your life insurance, and give you… Continue Reading
Many reasons exist for declaring bankruptcy, and many of your assets will be treated differently throughout the proceedings so lets take a look at how your life insurance will be protected during bankruptcy. Even if you are undergoing bankruptcy proceedings you still have many parts of your life which may require life insurance protection. Reasons… Continue Reading
A financial product which has been gaining traction in the insurance markets is no lapse guarantee universal life insurance. The properties of a no lapse guaranteed universal life insurance policy makes it an attractive option for consumers across many age groups and income levels. It fits nicely between a whole life insurance policy and a… Continue Reading
One of the biggest advantages of working with an experienced high risk life insurance agency is our understanding of life insurance underwriting guidelines. These guidelines is one of the biggest factors which separates carriers, and why we pair people with companies who have life insurance underwriting guidelines which fit their specific situation. An agent who… Continue Reading
New to purchasing life insurance and you’ve been told you could be rated? This article explains what life insurance table ratings are, how they may affect your premiums, and some possible reasons why you may get rated. In general terms, a rating means an increase in your price for the insurance you applied for. For… Continue Reading
In recent years an increasing demand for life insurance after retirement has lead to more companies offering coverage later in life. In the past, owning life insurance in retirement was unheard of since most people already had children out of the house, and the house was already paid off. Now, the reality of retirement is… Continue Reading
When it comes to your life insurance rate, many people are confused why they are paying a certain amount for their coverage. By looking at the reasons which go into determining your life insurance rate, you will be able to get a better understanding of the different types of rates, and how to get the… Continue Reading
When you start to consider purchasing life insurance for seniors over 70 you may be met with many confusing options. Life insurance agents have a way with complicating the purchase, when in actuality life insurance can actually be made simple. Considering life insurance at this age used to be unheard of, but now its financial… Continue Reading
We are often approached by grown children who are considering the possibility of buying life insurance on a parent. These potential clients have many different questions about what is available, and what paperwork must be completed if you are taking out life insurance on a parent. People are usually very surprised with how simple it really… Continue Reading