Getting Term Life Insurance with Health Issues

If you have health issues, don’t automatically assume that you won’t be able to get Term Life Insurance. There are a number of things that go into a company’s decision about  approving a policy and the amount of coverage. It may prove easier than you think to get Term Life Insurance!

Rate Classes

Insurance providers typically place potential customers into several rate classes that are based on factors such as past illnesses, current health issues and any pending tests required to verify suspected diagnoses. The rate classes generally include Preferred Plus, Preferred, Standard and Substandard. Insurers charge more for the same coverage under each class, with Substandard costing the most. However, some customers find that they still qualify for insurance under a less expensive class. In addition, many customers choose a bit less coverage to make up for the increased cost.

Improvement in Rate Classes

Some companies take into consideration that the illness in question is resolved. For example, a patient who had cancer but is now cancer -free, might still be able to qualify for a higher rate of coverage. Another factor in rating customers is their weight related to height. Losing those few extra pounds might just make a difference in how much your term insurance policy costs. While many people want immediate coverage, some insurance providers will reclassify clients when circumstances change and place them into another category. Remember to check with each provider to determine their rules about reclassifying customers.

This is where Need Term Insurance comes into play. We understand underwriting guidelines and can help you  pick the insurer and coverage that fits your needs for Term Life Insurance.  Call or contact us at Need Term Insurance to discuss your Term Life Insurance needs. Our experts can help you decide how much coverage you need to protect you and your loved ones.  Or got to our site to get quotes and apply online immediately.


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