High risk life insurance takes an experienced life insurance agent to find the most affordable rates.
If you're looking for high risk life insurance quotes, you need to know that each life insurance company is going to look at each health issue differently. They all have their own underwriting guidelines.
That's what we do at Root Financial. We take people who have been highly rated or even declined and find them affordable rates. In many cases we perform a life insurance prequalification. In a nutshell:
We complete an ANONYMOUS "pre-qualification" letter with detailed information regarding your health and send it out to all our our life insurance companies.
The life insurance companies will make tentative offers (or decline). We sort through all of them and present you the best one. (Please allow 2-3 days for all the offers to come in)
If you decide to apply, we get that "pre-qualification" offer in writing and attach it to your formal application. As long as everything in your medical records and lab results confirm what you told us, that will be the rate you get. No surprises.
Not many agents or agencies in our industry do this. It's very time consuming. We're willing to give each client all our efforts as long as they're serious about obtaining affordable coverage. Be honest and detailed about your health (no sugarcoating) - and we'll find the best rate you can qualify for.
We work with different health issues every day and try to write as many articles as we can to help consumers understand how their health issues will effect their life insurance.
Life Insurance agents all use the same published rates. It doesn’t matter if you go direct to the company or use a broker like Root Financial. What makes the difference is the health rating you obtain. That’s where an impaired risk specialist can save you A LOT of money.
We know what companies look at certain risks most favorably and like an artist, we paint your risk in the most favorably light to an underwriter. It truly takes an experienced and skilled life insurance agent to work with high risk individuals.
For Example: Agent A could obtain an offer for Table 4 rates at $200/mo with Mutual of Omaha. Agent B could obtain a Standard rating for $100/mo for the same risk with the same exact company. It matters who you use
Life insurance underwriters will ALWAYS offer the best possible rate class given their findings on your application, medical exam and medical records. However, an good high risk life insurance agent can sway an underwriters opinion if they’re on the cusp of one health classification or another.
High risk whole life insurance is underwritten differently than high risk term life insurance. For example: You could receive a “Standard Table 4” rates (double your Standard premiums) for a term life insurance policy, but receive a “Standard” offer for a whole life insurance policy for the same exact risk.
For those with VERY high risks. Including those looking for life insurance with HIV or cancer with a negative outlook, there are guaranteed issue life insurance policies on the market. These are more expensive and typically have a 2-3 year waiting period before full benefits are paid. There are several of these high risk life insurance companies on the market and we can compare those rates for you.
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