Life insurance is not something most people want to discuss. But, I think we would all agree that life insurance is a vital need for protecting those we love. Life insurance is used not only as a way to protect your spouse and children, but also can be used to protect your business. Business owners often times have many people who depend on them being there to keep the business open. It is important that the business have a way to stay funded if the primary owner or a key employee passes away unexpectedly. A smart business owner with the proper planning can them have the money needed to allow a spouse or key employee to keep the business open. Money from life insurance can be used to buy out a spouse or other partner.
For people who are in generally good health, buying life insurance is not a problem. But, for those with a pre-existing medical condition such as diabetes, heart disease, cancer, etc. purchasing affordable life insurance can often times be difficult. These blog will give you the tips you need to find how to purchase coverage with a pre-existing medical condition.
Most people are unaware that just like their are physician specialist who do brain surgery, heart surgery, etc. their are also life insurance specialist. These expert agents typically have years of experience and specialized knowledge of the underwriting of difficult cases.
Underwriting is the process that a prospect must go thru to see if you can qualify for life insurance. It is important to remember that every life insurance company has their own set of guidelines and rules to which they must adhere to when underwriting a particular risk.
One insurance company may decline someone for a history of heart by-pass, where another carrier may find this risk acceptable and offer a fair rate. The secret is knowing which life insurance carrier specializes in each particular medical risk.
This is where the life agent risk specialist can really shine. An experienced agent will know which carrier underwrites a condition the best. And the special risk agent can also negotiate on your behalf between the different carriers. Most special risk life insurance agents are independent. These means they have no allegiance to any one particular company. Most agents also represent numerous carriers.
In the life insurance arena in the United States there are over 1,000 life insurance companies. But, in the special risk underwriting arena there are perhaps only a dozen or so that truly underwrite special risks.
A good special risk life insurance agent can save you much legwork, and more importantly hundreds if not thousands of dollars in premium over the life of your policy.