For those who are currently having a difficult time getting approved for life insurance, you also may want to read the following articles which focus on difficult to place insurance policies: TermLife2Go’s Best Life Insurance Companies, Avoid the Exam! Best No Medical Life Insurance Companies as well as our Top 10 Final Expense and Burial Life Insurance companies.
When life insurance companies create commercials and advertisements, they like to promote rates for clients that are in excellent condition in their 30’s and 40’s. They’ll usually quote a 10 year term policy mainly because these rates are really good at getting people’s attention.
Ever heard the commercial?
“John, a 42 year old man in good health can get a $500,000 term policy from a highly rated insurance company for less than $25.00 a month”
Which is true, but what if you’re not in great shape? What if you have some preexisting conditions? What if you are currently taking some prescription medications? What do you do then? This is when getting life insurance goes from “processing an order” to “needing an expert”.
The good news is that the life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. These niches may vary but generally insurance carriers do become known within the industry to focus on certain market populations. For this reason, it’s key for you as a consumer to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different carriers out there. Only by doing this can you insure that you are getting the best policy for you and your family.
For example, let’s look at folks that are currently taking Endocet (acetaminophen and oxycodone). Endocet is in a group of drugs called opioid pain relievers that are used to relieve moderate to server pain.
Now not all carriers will look at taking Endocet the same. If Endocet is only being used for a brief period of time, applicants should be able to receive a “preferred” or better rate. However if Endocet has been prescribed for a long period of time carriers will often want to inquire about the underlying condition that it is being treated. For this reason, knowing which carrier will provide the best chance to secure coverage is key. Things that will come into play are:
- Time of diagnosis.
- Current health conditions.
- Amount of coverage the applicant is looking for.
Totally confused?…. Don’t be, this is where TermLife2Go steps in, as an independent agency our agents are committed only to you and your family. Our sole purpose here is to help guide you through the process of:
- First, choosing the right type of policy, whether it be Term, Whole Life, and Universal Life etc..
- Second, determining the appropriate coverage amount.
- And lastly, determining which carrier will most likely give you the best rate available.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
Additionally, all of our agents are trained to handle more delicate applications such as those used to fund buy sell life insurance agreements, SBA loan life insurance requirements, divorce settlement insurance, estate planning policies, key man policies and single pay whole and universal life insurance premium policies.
So what are you waiting for? Just give us a call and see just what we can do for you!