Can You Get Permanent Life Insurance If You Have A Pre-Existing Medical Condition?

Many individuals with medical problems do not think about buying life insurance. They consider that they will either be refused or the whole underwriting process will be frustrating. Not all of us like to talk freely about our medical issues. Although your first thought would be to procrastinate and delay buying a life insurance as much as possible, do not do that.

over-50-life-insurance-300x199There are many companies that provide certain policies which can be purchased by individuals with health problems. No medical exam life insurance policies are on the list and you can even get permanent life insurance if you have a pre-existing medical condition.

Make sure to understand, that even if you purchase life insurance with pre-existing medical condition, it will cost you. The premiums will be a bit above the average, since you pose a greater risk of dying. Also, there will be limitations. Usual face amounts range between $25000 and $50000.  That reduces the risk to the insurer.

So, thinking that you will not be allowed for life insurance because you are sick is just a common misconception.  Companies can provide coverage, but with limited support. You can even buy whole life or permanent life insurance. The features will typically be the same, meaning that you will be able to invest a part of your money in market products, just like in the case of a universal life insurance policy.

There are several common policies for those with medical problems. The most common one is guaranteed life insurance. Usually they ask no health question and provide general acceptance.

The downside is the increased cost of premiums and the limited face amount. Simplified issue no exam is another similar policy, but you will have to respond to several questions.  If you have troubles finding the right life insurance for you, do not hesitate to contact an impaired-risk specialist. This kind of brokers is specialized in this niche market and can assess the risks involved.  The more details you give to the insurer or broker, the better your chances of getting a favorable answer.

Do not hesitate and contact us for high quality quotes and data.