How to find Life Insurance if you have a serious illness.

Показать описание

We'll go over How to find Life Insurance if you have a serious illness. So you can better understand your life insurance options.
This channel was created to provide viewers with content that will help them better understand life insurance. As a licensed Life Insurance Agent, I will go over the most important and essential facts and topics in these videos.

Permanent Life Insurance, Whole Life Insurance, Burial Insurance, Funeral Insurance

Hello my fellow insurables I'm Kelli
and today we're going to talk about how
exactly to get life insurance coverage
if you have a serious illness
and stick around till the end because we
will go over the terms and conditions of
the policies that will cover anyone that
has a serious illness so how can someone that has a serious
illnessqualify for life insurance coverage no
matter what their pre-existing condition
is so fortunately there is what's known
as guaranteed issue life insurance or
guaranteed acceptance life insurance
they are the same thing which
essentially means that no matter what
your ailment is no matter your health
condition you qualify for coverage because just
as the name implies the get the acceptance is guaranteed the
only stipulations you'd have to meet
would be the age requirements which
typically is 40 to 80 years old so we
see a lot of advertisement for these
type of life insurance policies perhaps
on The Game Show Network or typically
run during midday programming and it is
geared for older folks to help them
cover their funeral costs or their final
expenses and they may not exactly call
this life insurance guaranteed issue they may they might
just say that your acceptance is
guaranteed and that no one can be turned
down so one of the great things about a
guaranteed issue guaranteed acceptance
life insurance policy is that
since everyone is literally accepted you
don't have to answer any kind of Health
qualifying questions you don't have to
answer questions about your medical
history or your prescription drug
history pretty much the application is
only going to ask about your name your
date of birth your address your social security number
your billing information me meaning your
bank information who you want your
beneficiary to be and how much coverage
you're applying for now one thing about a guaranteed issue
life insurance policy is that typically
the coverage amounts are going to be
lower usually you can only apply for between
five to twenty five thousand dollars in
coverage no matter how they spin it on
the TV commercials there will be a
mandatory two to three year waiting
period until the full death benefit pays
out now whether it's two or three years
that's really all going to depend on the
life insurance company themselves but
here's how that waiting period works if
you happen to die Within let's say it's a two-year waiting period
the first company is just going to refund all the
premiums that you've paid into the
policy plus interest to your loved one
so what that means is if you've paid
loved one your beneficiary that's named
on a policy is going to receive all of
those premiums back plus interest that
interest rate is typically eight to ten
percent now once that waiting period has
passed whether it's 24 months or 36
months then the policy will pay out the full
death benefit so yeah there is a catch
with that with the waiting period and so
forth I will say these plans do serve a
very important purpose there are people
that will not be able to get coverage
anywhere else because of a a serious
illness a terminal illness a particular
disease that no one else is going to
cover if you're not going to have to answer
any kind of Health qualifying questions
or questions about your medical history
you simply give them some of your info
and your bank account information and
you're covered there will be no doubt
about this a mandatory waiting period
for the full death benefit
so there we have it if you do have a
serious illness a terminal illness or another
condition that prevents you from getting
traditional life insurance coverage a
guaranteed issue or guaranteed
acceptance life insurance policy is the
answer if you guys have any questions
about today's topic or other life
insurance questions please let me down
down in the comments and you can always
you liked today's video and you'll want
to continue to get great life insurance
information that will help you please like And subscribe