Life Insurance Alternatives

Life insurance is one of those things that many of us know we should have, but often don’t get. You need life insurance if you have people who depend on your income. It’s designed to provide money in the event of your death so that your surviving spouse and any children can continue to cover expenses without your income. Life insurance is pretty affordable and widely available. There’s just one snag: If you’ve already got health problems, you may not qualify for a conventional life insurance policy. You are what the insurance world calls, “uninsurable” because you are not predicted to live long enough for the insurer to make a profit off of you. Cold, but


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3 Responses to Life Insurance Alternatives

  1. Gail says:

    If you have health issues, you probably won’t qualify for mortgage insurance either. This happened to me long before I was actually disabled, so don’t count on it and it is usually only available when you actually purchase your home.

  2. Rebecca says:

    There are a select few companies that also offer “No Exam” term life insurance. Coverage is usually minimal and limited to the amount of protection you can purchase but none the less are still available to consumers who are declined by traditional life insurance companies. Alternatively, consumers might also consider requesting life insurance through their current employer. These policies are often underwritten as a whole and therefore individual employees are not required to undergo health underwriting.

  3. Gordon McInnes says:

    It makes sense to know what kinds of life insurance you can qualify for, and to choose which one suits your needs best. Though there are many alternatives on the market, it does not mean that you should apply for many.

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