Is there any good and reliable term life insurance company's
by Guest » Wed Oct 13, 2010 02:50 pm
Is there any good and reliable term life insurance company's out there that can cover people with pre-exsisting conditions?
Total Comments: 1
Posted: Wed Oct 13, 2010 08:45 pm Post Subject:
It would be helpful for you to first name some of the "preexisting conditions" you are thinking of. Some conditions may be covered as a "substandard" risk, others would result in an automatic decline by most companies.
What's true about life insurance (although not necessarily so about term life at later ages) is that there will almost always be an insurer willing to take any risk for the right price. There are several companies that accept people as late as age 84 (or older) with no medical underwriting -- but their rates are definitely equal to or greater than those that anyone rated modestly substandard or worse would see after medical underwriting (the companies that commonly advertise "life insurance for $7.95 per unit" ($79.50 or more per month for a $10,000 policy).
Posted: Wed Oct 13, 2010 08:45 pm Post Subject:
It would be helpful for you to first name some of the "preexisting conditions" you are thinking of. Some conditions may be covered as a "substandard" risk, others would result in an automatic decline by most companies.
What's true about life insurance (although not necessarily so about term life at later ages) is that there will almost always be an insurer willing to take any risk for the right price. There are several companies that accept people as late as age 84 (or older) with no medical underwriting -- but their rates are definitely equal to or greater than those that anyone rated modestly substandard or worse would see after medical underwriting (the companies that commonly advertise "life insurance for $7.95 per unit" ($79.50 or more per month for a $10,000 policy).
Add your comment