Jan 092013
 

No Questions Life Insurance

It is the end of the year so you settle in to take stock of your financials.  Tally up your checking and savings accounts, mutual funds, IRA or retirement plan.

On the other side of your paper you add up your home loan, car loan, credit cards and other debts.

Then it hits you.  You don’t have any life insurance.

None.

Maybe you carried term insurance through your work, but now that is gone.

No life insurance.  What do you do?

Gotta fix that.  You really need life insurance to pay for funeral costs.  But your health hit the skids in the last few years so you cannot qualify for regular life insurance.  You know because you tried.

Pondering your situation, you find yourself mentally designing your perfect life insurance plan.

  1. You can’t be turned down.  You don’t want to open the mailbox to see the declination letter starting with “You have been declined ….”
  2. Your premiums are guaranteed level.  Once you buy your plan, the premium will never increase even if your health gets worse.  You’ve heard stories about huge premium increases at older ages causing the elderly to lose their life insurance.  Your perfect plan guarantees this won’t happen to you.
  3. Your coverage is guaranteed to age 100.  You have good genes and plan to live quite a while life your parents.  Life insurance that runs out early won’t do.  As long as you pay your premiums on time your life insurance protection cannot be cancelled.
  4. You don’t want to put on your lawyer hat to understand your policy.  Make it simple.  No complicated bells and whistles.  Just straightforward life insurance.
  5. The insurance company won’t take into account your health conditions.  In fact you don’t even want to answer any health questions.
  6. You want the application approved in a day or two.  No long wait to get an answer.  Put the life insurance in force quickly.
  7. You understand that since the insurance company knows nothing about your health, they probably can’t pay the full death benefit in the first couple of years.  The company is taking on a huge risk by not asking health questions.  But after two or three years you would expect the full death benefit.
  8. But in fairness to you, for an accidental death that has nothing to do with your existing health condition, you do expect the full death benefit to be paid even from day one.
  9. Most importantly, no health questions, no medical exam, and no blood samples.

Jackpot.  You can find your no questions life insurance plan here.

 January 9, 2013  Posted by at 3:00 pm Guaranteed Issue Life Insurance Tagged with: