If you have a medical condition you can get still get life insurance. But the cost of life insurance will be downright outrageous. Things might change soon. There is now a new breed of insurance professional out there called special risk advocators. These special risk advocators help people with medical problems find affordable insurance. They are in-house specialists who go between you and the insurance underwriters. They know what to say, what things underwriters frown or smile upon, and who to go to for the best coverage possible.
When dealing with a special risk advocator, there are a few things you need to consider. Since they will be dealing with the underwriters, check for their underwriting experiences. Someone who has worked as an underwriter or specialist manager at an insurance company is certainly more suited to be a special risk advocator as they will know exactly what to highlight, what key things to avoid or what things to shine upon when applying for life insurance. Former underwriters are usually have excellent experience setting policy prices for those who suffer from medical conditions and often have good connections with current underwriters. There are many risk appraisal forums whose members are familiar with medical advancements and therefore can help those with medical conditions to find affordable insurance. Check if the special risk advocator is a member of such a forum. During your meeting, listen to the questions he or she asks you. The questions they are asking you should be pertinent to your medical condition. If the questions are not related to your medical conditions, your special risk advocator may not be knowledgeable enough or tend to just push the application through in hopes that it will be approved.
After all the formalities are completed and you have been declined, special risk advocators can still work to get you a standard life insurance policy that will work for you and your budget. Even if you’re quoted at an outrageous premium, they may be able to secure you the lowest possible rate by going back through your files, picking out key points to focus on, then calling a few different underwriters to discuss alternative options. Special-risk advocates usually work with people who have one of the following medical conditions:
• Depression
• Obesity
• Stroke
• Tobacco use
• Heart disease
• Hazardous
• Cancer
• Drug or alcohol abuse
• Diabetes
• Hazardous hobbies or occupations
• Hepatitis C
• Hypertension
Even if your condition is not listed below, a well-qualified special-risk insurance advocate can usually find a life insurance company to issue you an affordable policy.
