Finding Health and Life Insurance With a Chronic Condition


Those shopping for health or life insurance coverage with a preexisting condition can face a considerable amount of resistance when it comes to attaining a policy. Nonetheless, protection for you and your family in times of crisis is a priority. The fact that you fit into a “high risk“ category should not disqualify you from coverage nor make your rates astronomical.

There are approaches that people can take in order to find coverage regardless of their current health situation. With the right amount of time and resources dedicated to finding the right provider, people with cancer, heart disease, and the elderly can all find the kind of coverage that they need for a secure future.

Built-In Protection

The most common approach to coverage for “high risk” individuals is to obtain policies through their place of employment. In many employment situations, employees are ensured benefit packages that include life insurance. Companies in the vast majority of states are required by law to extend this kind of policy to their employers despite their knowledge of illness or health issues related to their employee. These policies are not always ideal, however.

The Numbers to Consider

They generally provide minimum coverage. In most cases, the policies rarely exceed $20,000. In rare cases, the coverage can extend up to $50,000 for a single employee. Still, this kind of coverage also only applies while you are employed by this company. Upon retirement, the policy is no longer in effect, making you virtually impossible to cover by the vast majority of independent agencies.

Ensuring Protection in Every Instance

Guaranteed-Issue Life Insurance is another option for people that does not require screenings or exams prior to approval. These policies are fairly standardized. However, the premiums can be extremely expensive when compared to other policies on the market that utilize health screenings. The rates for these policies are often three to five times more expensive than those available through other resources. While this price can be considerable, the extra expense can be necessary when caring for the future of your family after reaching retirement.

Tailoring Your Needs

The Guaranteed-Issue Life policies can be individually tailored in order to take care of final expenses, however. The policy can be designed to payoff outstanding debt of the individual following death. A common policy of this type is known as “mortgage life insurance.” In the event of death, the policy relieves the family of a substantial burden by paying off the remaining balance of your mortgage. The rates between providers can vary significantly, making it critical to do your research before settling on any one policy.

Explore your options in order to give your family the security they deserve. A specialist from Steers Insurance Limited says examining side-by-side comparisons of providers will help you determine which plans offer the coverage you need. This is your future, so take all the time you need to examine each provider before deciding. A secure future involves making all of the preparations you need in place today.

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