If my application for life insurance is rejected because of poor health, are there any other companies that will insure me?
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Asked October 19, 2010
Just because your application for life insurance has been turned down at one company does not mean you are uninsurable. You can still apply for insurance with other companies. Depending on the type and amount of the policy, you may not be turned down for even very serious health considerations but you may find yourself paying higher premiums than you had expected. Shop around for different rates and policies, and look for companies who specialize in the type of coverage you are trying to get. Rest assured that there is life insurance coverage available for everyone if you are willing to pay the price.
Even if you do not have any luck with major insurance brokers, you can still acquire life insurance through high risk providers. This type of insurance provider is able to provide the desired coverage by imposing very high premiums and standing by very strict clauses on how a claim may become legitimate.
Your best resource may be to investigate life insurance agencies which do not require a doctor's examination. Such policies are available online and on television, and generally entail small life insurance policies intended primarily to settle the deceased funeral arrangements and last wishes. The idea is to allow the deceased to pass out of this world without becoming a burden on those they leave behind.
Answered October 19, 2010 by Anonymous