Whether it’s health insurance or life insurance, you are likely going to have to undergo a medical exam before you can complete the policy purchase. Companies do this to ensure that policyholders will be able to make premium payments long-term, and while those premiums may be smaller for the ones who have more favorable results, the payments accumulate and allow the company to remain profitable. Less-than-ideal results can result in rejection.
Final expense insurance is different. But that’s not to say your health doesn’t matter, because as you will see, it still plays a role in the quality of the policy you’ll be able to get.
What happens since there isn’t a medical exam?
Final expense insurance isn’t without its medical portion – it’s just less invasive than the typical life insurance enrollment process. You will answer a series of questions pertaining to your past and present medical conditions. This is a brief process and is another reason why final expense insurance is easy to sign up for.
You may be tempted to fabricate your responses since being in good health means lower premiums with a higher possible death benefit. However, the insurance company can confirm your responses by checking your medical records.
What if I am in poor health?
Don’t be discouraged if your health isn’t what you want it to be. Final expense insurance is among one of the most inclusive life insurance policies you can get. You’re not going to get rejected. At worst, you pay slightly more per month and may have to go through a 2-3 year waiting period before your policy goes into effect.
Another way to see this is the maximum amount a person could pay in premiums. Higher amounts are also assigned according to age as well. So if you are 80 years old and wanting a policy with a $10,000 death benefit, your monthly amount will be $93 if you’re a female or $126 if you’re a male. Even then, the highest payment possible amounts to a little over $4 per day.
No matter what your health condition is, you will be able to join a final expense insurance policy. Final expense insurance gives you an option when there are no others left.
What if I develop a serious health issue after getting a policy?
One of the most appealing features of final expense insurance is its consistency. Premium payments will always be the same. What you pay in the beginning is what you will be paying until the end. If you are diagnosed with a serious illness or have a medical emergency at any point, your premiums will not change.
You ask, we answer
At Final Expense Direct, we take everything into account when working with you to help you get the best policy possible. Don’t let anything hold you back from leaving your loved ones an added sense of financial security when you pass away. Call us today at 1-877-674-0236.