If you have a preexisting medical condition, you may be concerned about your ability to secure life insurance coverage. While it may be more challenging to obtain coverage, it is not impossible. There are several options available to individuals with preexisting conditions.
The first step is reach out to an Independent Life Insurance Broker, who has access to several different carriers, and to those that specialize in underwriting policies for people with preexisting conditions. Independent Life Insurance Brokers have experience working with individuals with a wide range of medical conditions and can provide the carrier with tailored coverage options for your preexisting conditions. A broker can provide you with a range of options from multiple insurance companies and can help you compare coverage and premiums to find the best policy for your needs.
Another option is to consider a guaranteed issue life insurance policy. These policies do not require a medical exam or health questionnaire and are available to anyone who applies. However, they typically have lower death benefit payouts and higher premiums than traditional policies and a 2-year waiting period.
If you are not eligible for traditional life insurance coverage, you may want to consider an accidental death policy. These policies provide coverage in the event of accidental death, but do not require a medical exam or health questionnaire and are also a great supplement to any life insurance portfolio.
In summary, while obtaining life insurance coverage with a preexisting condition may be more challenging, it is not impossible. By working with an Independent Life Insurance Broker, considering guaranteed issue policies, and exploring AD policies, you can secure the coverage you need to protect your loved ones.
Looking forward for the opportunity to serve you and your family.
Ivonne Cabrera
Independent Life Insurance Broker
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