Obtaining Life Insurance Even If You’re Not a Standard Risk
The development of a chronic health problem is often more than just a health concern. From an insurance perspective, you’re no longer an average person buying life insurance. But even though you’re not a legal risk, you can still find needed coverage. A type of life insurance called “impaired risk” is designed to give people in your situation the necessary coverage.
In life insurance underwriting, an impaired risk is an individual with an unfavorable health condition, health history, or another factor that makes him an above-average risk. You may be considered a bad risk if you can answer “yes” to one or more of the following statements:
· You have a dangerous occupation or leisure time activity
· You have cardiovascular/heart disease
· You have cancer
· You have diabetes
· You suffer from rheumatoid arthritis
· You suffer from chronic asthma
· You are a substance abuser
· You suffer from another chronic lung, liver, or kidney disease
· You have HIV/AIDS
Despite these existing conditions, you can still find affordable coverage, but not without a little effort. An insurance agent experienced in placing coverage for individuals with impaired risk is necessary. They will know which carriers will likely cover you and which ones to avoid.
Some insurance carriers are now using an underwriting process called “clinical underwriting.” This is a recently developed process for substandard underwriting risks considering your total health, not just your current health conditions. This process looks at how you are managing your chronic illness. If you follow your physician’s guidelines, take prescribed medications as directed, lead a healthy lifestyle, and have no other health complications, chances are your rate will be more affordable.
Above all, remember that you can find life insurance coverage, but probably not without a few rejections. You mustn’t take no for an answer, and your application doesn’t mean that another company will view you as an unacceptable risk just because one insurer declines.
A run-of-the-mill life insurance quote engine is found on other websites, and even this website will not be able to give you an accurate rate. Please call or text us at 352-508-4221 so that we can work up an appropriate quote for you.
