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.