Having Trouble Getting Life Insurance Due To Your Health Problems? Here Are A Few Things To Try
If you suffer from chronic diseases, getting life insurance can not only be more expensive, but it can be hard to qualify. Conditions such as heart disease, cancer, diabetes, and even obesity can keep you from being able to afford life insurance to protect your family. However, don't give up, there are ways to get life insurance at a rate you can afford, even if at first you have to go with a lower policy amount.
Credit Unions, Trade Associations and Others
If you are a member of a trade, financial or civic association, find out if they offer life insurance at group rates to their members. Many will have policies available for people with pre-existing health problems. While these policies may have higher premiums than those for people without health concerns, they will still be lower than if you were to buy the policy yourself. If you are not a member of any group that has this option, check other local associations, such as AAA, or join a credit union.
Guaranteed Insurance
If you are still having trouble finding affordable insurance, contact a company that offers "guaranteed" life insurance. This type of policy will cover anyone, regardless of age or health condition. Unfortunately, the premiums are going to be on the high side, the amount of the policy may be limited, and your family may not be able to collect the face value of the policy if you die within two years. However, these policies usually offer lower amounts than normal health insurance, and you may be able to buy them in increments. In other words, you can buy as little as $5,000 worth of insurance, or enough to cover your funeral expenses. Or you can buy any increment of $5,000 that you can afford.
Get Your Doctor Involved
Something else to consider is to get your doctor involved. If you can prove that your condition is under control, you may qualify for a lower rate. Perhaps you buy a more expensive guaranteed policy to start, and then, once you have the condition to the point that it is not life threatening, you may qualify for lower premiums with a standard policy. If you make lifestyle changes that improve your condition, your premiums will be lower than if you have things under control with medications, but any reduction in premiums is a good thing.
It may take a bit of time to find a life insurance policy you can afford when you have pre-existing medical conditions, but it can be done. Talk with your insurance agent, your boss, and your doctor. If you're looking for an insurance agent, consider looking for one at a company like Welsh Agency Inc.
Share
