What is “high risk term insurance”? Do you have an existing medical condition and think you probably won’t be able to get a term life insurance policy? Have you been rejected for term insurance in the past? Would you like to protect your family in case something bad happens, but you don’t know where to turn for good, solid advice?
You came to the right place! Since 1985 we’ve been helping families get term life insurance even if they’ve been rejected. Here in Palo Alto, as well as statewide, all sorts of folks are under the impression that they can’t get life insurance. In the “old days” that was true. If you were diabetic or had cancer history of ANY kind, then you were uninsurable. Heart attack in the last 20 years- forget it!
We live in a wonderful era for breakthroughs in modern medicine and life insurance companies are paying attention. Insurance companies are offering term life insurance policies for Type-2 diabetes, if controlled by diet and moderate dosage oral medications, as “standard” risks, or with slight premium surcharges. The first diabetic was insured in 1932 by a Canadian life insurance company and that we unheard of back then. Some forward-thinking medical director at the company realized that if they dig a little bit deeper through medical records and personal history, that there’s a good story to be told by the consumer. Sure, it was a huge risk in 1932, but it was also smart business because there was a HUGE market for this service. People were willing to pay more to protect their families. Come back to the 21st century and you’ll find several large life insurance companies willing to offer gate rates for term life insurance policies if the diabetes is controlled primarily by diet and moderate amounts of oral medication. Insulin taking diabetics are more difficult and the onset is typically earlier in life.
Let’s talk about cancer history. Again, years ago, no life insurance company would even consider you if you were female and had a lumpectomy within the last 10 years. Mastectomy with radiation or chemotherapy- no way. Companies might have considered you after a 10 year waiting period, then then they would attached a very high premium rating, or surcharge that could be either a permanent surcharge, or a “temporary extra” which would have declined each year you survived. modern medicine to the rescue(literally) again. Today, women are living long healthy lives after successful breast cancer treatment, AND they can be considered “standard” risks. This is very good news!
So, what do you do if you have a condition and want term life insurance? The first thing you need to do is find and independent life insurance broker who has handled these situation before. A life insurance broker is key, because brokers can access many different companies and can use the company that offers the lowest possible rates on term life insurance policies for your specific condition. Captive, or single insurance company agents aren’t equipped, typically, to go outside their primary insurance company. If the agent has the name of an insurance company on his or her business card, then that agent is not completely independent! They owe their primary company the first shot at your policy, so they will be inclined to push for that company first. This will waste your time!
Call an independent broker and discuss your situation! We are in Palo Alto in the heart of Silicon Valley, so we’ve seen it all! There are very few surprise outcomes in life insurance anymore. You want to make sure you work with a life insurance broker who has done this type of work before!
Call us first! We are happy to discuss your term insurance needs and we promise that if we can’t help you wewill guide you to someone who can! Our primary mission here at CB Acker Associates is transparency! We have nothing to hide and will tell you how much we earn on your policy. Just ask us!
We hope to hear from you soon! Go to the FAST Quote button and check out term insurance rates now! You won’t be sorry you did!
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