Life Insurance And Your Health
Life insurers prefer to ensure people who are in a healthy condition. However, often it is those who are quite ill that are most interested in life insurance. If your health is not the greatest, there is a chance that you could get turned down for life insurance. The chance of this situation increases with age.
There are some life insurance companies that will insure anyone without a medical examination. These plans can be very expensive to compensate for the risk the insurance company incurs or there may be a limit to the amount of life insurance you can purchase. If you have a term life policy and have the option of renewal, you may be able to renew without a medical exam. Some companies will require a medical exam to assess your insurability to be sure to know their policy on renewing term insurance.
If you purchased a permanent life insurance before your health became compromised you would not need to be concerned about finding life insurance in this situation. This is one reason why some people choose to purchase permanent life insurance. You can discuss your options for obtaining life insurance with an agent. Even with some health problems you may still be able to find suitable coverage at a premium you can afford. It may just take a little extra effort in your search. InsuranceBureau.com can assist you in your search by giving you access to competitive life insurance quotes from different companies in your state.
Sources
- Life Insurance FAQs. Retrieved May 9, 2008, from http://www.naic.org/consumer_life_faqs.htm
|
