IM a US ARMY Retired,I was retired due to disability.I been looking for a life insurance but nobody approve me because IM high risk.....can somebody help me?
2007-07-12 10:44:55 · 8 answers · asked by Brasil2581 1 in Business & Finance ➔ Insurance
There are also other guaranteed issue policies other that AARP. Visit a local independent agent who can compare the plans and get you the best possible policy.
2007-07-12 11:29:15 · answer #1 · answered by Zarnev 7 · 0⤊ 0⤋
Depending on why you are high risk would determine the cost of insurance or whether you are insurable. Western Southern Financial Group has several different products that should be able to cover you. If you are in Ohio let me know and I can meet with you to discuss the next step in determining the best route to take.
2007-07-18 13:55:08 · answer #2 · answered by reymop 2 · 0⤊ 0⤋
It’s hard to tell from your description if you are insurable or not. I don’t see why you wouldn’t be. Some states laws requiring insurance companies to provide coverage to some people (you say you are retired military—you may be too young to qualify for mandatory coverage). Some insurance companies offer insurance with no health exam required--guaranteed acceptance life insurance polices.
Guaranteed acceptance policies cover you for accidental death immediately, but they will not cover death from natural causes until two years have passed from the time you take out the policy. The reason is obvious: Insurance have to avoid writing “deathbed” policies—policies written for terminal patients shortly before they die. Once your two-year waiting period is over, you are fully insured for the value of the policy. If you die of natural causes before then, most insurance companies will at least give the premiums you paid plus interest to your beneficiary(s).
Another way to go—if you have any cash on hand—is a single-premium life insurance policy where you pay for the coverage up front in a lump sum. The policy will cover you until death and there is no chance of the coverage stopping because of non-payment, since everything is paid at the beginning.
Your best option is to contact an insurance broker who is in business for himself or herself but represents several companies. A broker will do the legwork for you, shopping around to find the best policy for your needs. To find a broker in your area, log on to a website like http://www.lifeinsurancewiz.com and fill out a “request for quote” form. This will be sent to a broker in your area who has subscribed to the service. Don’t worry—you are not obligated to go with them, and the website can’t give your info to anyone else (except, maybe, another insurance broker in your area—but that’s not all bad as you would then have two people working for you).
Give it a try. Good luck. And thank you for your service to our country.
2007-07-12 20:03:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
u buy life insurance with your health, not your money.
the poorer your health, or risk factor for dying, the more money it will cost you.
almost anyone can get some form of life insurance.
Some companies have lower underwriting standards, but therefore will be more prone to dying themselves.
A guaranteed issue policy may be the only thing left and it will have payout restrictions - some companies better than others.
2007-07-14 15:39:49 · answer #4 · answered by Bill R 7 · 0⤊ 0⤋
You say you're high risk, but you don't say why and that could make a big difference in terms of insurability.
At any rate, if you've been turned down everywhere else, AARP has a guaranteed issue whole life plan with a very small face amount. It may be your only option.
2007-07-12 17:54:33 · answer #5 · answered by ISOintelligentlife 4 · 0⤊ 1⤋
Only SSI disability will effect life underwriting. It really depends on what you medical condition is and how well it's controlled. My neighbor is on disability with the VA, but I still increased his coverage for less premium than he was paying before.
You really need to work with somebody who has experience with your type of case. If you're in NC, I'd be happy to help.
2007-07-13 10:11:15 · answer #6 · answered by aaron p 5 · 0⤊ 0⤋
Maybe you can try below website to get the information you need. It's about choosing the best life insurance option for you articles for your second opinion.
2007-07-13 00:35:43 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You know, if ANYONE can get you life insurance, it's going to be USAA.
Have you tried them? www.usaa.com
And if you go to a high risk specialist, they'll be able to get it for you, but it's going to be REALLY expensive. Maybe almost as much as the payout.
2007-07-12 21:24:02 · answer #8 · answered by Anonymous 7 · 0⤊ 1⤋