Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Low-Cost Life Insurance Companies

By Denise Mancini Subscribe to RSS | December 3rd 2011 | Views:
loading
 
  



The life insurance industry has changed significantly over the years. Rates have come down drastically and today many life insurance companies are even willing to accommodate people with impaired health and offer coverage to just about anybody! Of course, the higher the risk you pose to insurance companies, the greater the premiums you will have to pay. The brighter side to all this is that no matter what kind of risk you pose to a life insurance company you’ll probably find a company willing to offer you coverage.

We’re talking about people who have had bouts with cancer or major surgery, live with diabetes or heart disease. People with such impaired health risks were denied coverage in the past, but today, you’ll find companies not only willing to cover them but cover them at affordable rates. According to life insurance statistics, over 90 percent of those who apply for life insurance are able to receive coverage. The reason why the small ten percent is denied coverage is because of a history of substance abuse or their engagement in high-risk sports such as sky-diving or car racing.

Life Insurance Companies Work to Give You Low-Cost Life Insurance

Underwriters of life insurance policies today grade people according to the risk they pose to the company. Obviously, the best life insurance rates are reserved for people who are expected to live a long and healthy life. But say for instance, you’ve had a heart attack and were required to undergo bypass surgery. Your cardiologist thinks your life span has actually increased due to this surgery which should entitle you to better life insurance rates. Provided you live a healthy lifestyle and keep a heart-healthy diet, he believes your chances of living longer have actually increased compared to your chances of dying without an operation. But underwriters look at life expectancy a little differently. They will project an estimated life span taking into consideration the average lifespan of people who have had bypass at around the same age you did. They’ll gather other data to arrive at the most probably age you will die and then calculate their risk of insuring you. Your life insurance rates will be calculated in such a way that the life insurance company is able to cover the projected risk of insuring you by hiking your premiums to so that your risk is covered within the probable date you are expected to die.

Another not-so-well-known fact is that different life insurance companies use different underwriting systems. Some companies specialize in giving more favorable rates to people who are obese, have had a stroke or suffer from cancer, diabetes, depression, heart disease or other health impairments. You’ll find that some life insurance companies are more favorable to certain health conditions. For instance, some life insurance companies who specialize in cancer will go out of their way to accommodate low-cost life insurance rates for those who have undergone cancer operations but have a healthy prognosis.

What you can do to get low-cost life insurance

Life insurance companies will refer to your doctor for medical records that will help them assess your life insurance rates. Get in touch with your doctor and give him a heads up about your life insurance application. A positive opinion from your doctor supported by diagnostic tests could go a long way. Underwriters need to be assured that you’re doing all you can to bring your health condition under control.

Wait until your health has stabilized after surgery or treatment before applying for life insurance. The longer you have been healthy, the better chances you have for full recovery and increased life expectancy.

Compare life insurance rates with as many different life insurance companies as you can. This will help you find the company that offers the most low-cost life insurance.

Look into group plans which might work to be more cost-effective for you. Group life insurance is calculated on the average risk of a group of people. Those with health impairments may find this to be one of the best options for life insurance. If your group life insurance is from your employer, remember that it’s not portable, so if your job situation is not secure, you should seek a supplemental life insurance policy.

How to find low-cost life insurance companies

Use agents that specialize in high-risk life insurance. These agents are very familiar with the life insurance underwriting criteria and variables that companies use for specific health conditions. They can help you find companies that specialize in giving low-cost life insurance for your specific condition. You can also use online life insurance quoting services and brokers. Services like AccuQuote have more than 1500 life insurance policies from top-rated life insurance companies. This includes companies that specialize in high risk health conditions.

Denise Mancini - About Author:
About AccuQuote:



AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the most affordable term life insurance rates by comparing thousands of life insurance policies from dozens of top-rated carriers.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/low-cost-life-insurance-companies.htm

Related Insurance Articles Subscribe to RSS

Limitation of cheap classic car insurance
Published by Katiehomles on February 25th 2012 | Insurance
You bought a classic car and now you worry about worry its maintenance. The classic car insurance is...
 
Tips that can help in getting cheap van insurance
Published by Gregorypeck on February 28th 2012 | Insurance
Previously the use of van was very limited but now people of different professions use it. Buying a ...
 
Learn to find cheaper van insurance
Published by Robmarshall on March 28th 2012 | Insurance
Purchasing cheaper van insurance is not a very difficult task if an individual knows how to go about...
 
Vauxhall Car Insurance is best way to get insurance
Published by Ahmadgill on January 17th 2012 | Insurance
Vauxhall Car Insurance Quote can give you help if you want to get insurance for your vehicle. It is ...
 
Cost-effective commercial general liability insurance policy
Published by Andrew Edwards on April 11th 2012 | Insurance
A commercial insurance plan is the one which holds your company firm even in unfavorable conditions...
 
Buying term insurance online - a way to save premiums
Published by Chris Luke on April 26th 2012 | Insurance
Term insurance is a commonly purchased policy in current times as it is the most suitable plan that ...
 
Using cheapest car insurance quotes to find the cheap car insurance
Published by Robmichae on March 16th 2012 | Insurance
Finding the cheap car insurance includes obtaining cheap insurance quotes to assist an individual to...
 
Affordable medical insurance
Published by Lessardcasey on November 30th 2011 | Insurance
When one is in search of a low cost private individual health insurance plan, where does one go? A h...
 
Steps to make good car insurance comparison
Published by Geenadavis on April 20th 2012 | Insurance
You have always heard how much important car insurance comparison is, but you are not familiar with ...
 
Significance of business interruption insurance for corporate houses
Published by Andrew Edwards on December 14th 2011 | Insurance
To reach the elevation of success we have to plan our business administration programs...
 
Finding the right life insurance online
Published by Chris Luke on March 21st 2012 | Insurance
This article gives detailed explanation for the need of selecting a right life insurance company or ...
 
Points to facilitate product liability insurance as your uphold plan
Published by Andrew Edwards on April 7th 2012 | Insurance
Defects in products are quite common these days just because manufacturers fail to perform...
 
Coverage commercial general liability insurance offers to insured company
Published by Andrew Edwards on May 22nd 2012 | Insurance
CGL is quite popular plan while business owners want to cover-up the liability issues and transfer...
 
A quick guide to reducing your auto insurance premium rates
Published by Jerry on March 10th 2012 | Insurance
In this day and age, it has become very important that one tries to get a decent means of transport....
 
Have a safe and secured financial life
Published by Pramod Kumar Singh on May 23rd 2012 | Finance
Know about the different financial investment options and invest in various financial products to ha...
 
Alfa Romeo Spider car insurance is not difficult for you
Published by Kaisar on January 2nd 2012 | Insurance
This is not matter which car you are using but if you are the owner for the Brera car so it is vital...
 
How can medical insurance companies prove helpful in improving the medical insurance condition in India?
Published by John Smith on March 5th 2012 | Insurance
The current condition of health insurance of India is not good enough. People are still deprived of ...
 
Online health insurance quotes
Published by Lessardcasey on February 11th 2012 | Insurance
Comparing health insurance quotes to find the best deal for you can be done through HealthInsuranceQ...
 
Taxi Insurance Broker Quote will give you help to get a company insurance
Published by Atif Saleem on December 10th 2011 | Insurance
There are many companies that are serving to the costumers but there is also a way to wasting your t...
 
Pre existing conditions medical insurance
Published by Mark Suchel on March 14th 2012 | Insurance
Many sick individuals find it nearly impossible to get insurance with a pre-existing condition. Most...