High Risk? You Can Still Have Life Insurance

Lots of things can disqualify a person from a good life insurance package: a longstanding disease, cancer, old age, heart disease, and many others. But taking care of your family in the event of a misfortune is still essential. Fortunately, there are a few methods you can still get life insurance as a high danger prospect.

The best and easiest way to get life insurance as a person of high risk is through your company. Though the package will not be as good as if you got it straight from an insurance broker, you will still be able to supply some measure of financial security to your loved ones after you die. The company is required to lengthen life insurance coverage to all employees regardless of preexisting medical conditions. It is also important to keep in mind that the life insurance plan will only last for as long as you are with the company. If you leave or retire, your life insurance coverage will end.

Guaranteed-issue life insurance is another option. This is a way to get the same life insurance as a non-high danger prospect, because there are no medical screenings required. The downside is that guaranteed-issue life insurance can cost up to five times as much as a standard life insurance package. It is important to do your research before choosing a guaranteed-issue plan, as prices may differ mostly among insurance providers. Shop around before you choose one.

Also, if you are uninsurable because of a military injury, contact the Department of Veterans Affairs. The governments offers insurance plans for veterans who have been refused coverage because of injuries contracted during military service.

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