 Financial Management & Insurance Services 2200 Lake Avenue, Suite 120, Fort Wayne, Indiana 46805 Phone: (260) 422-5377 Fax: (260) 423-6780 Toll-free: (877) 341-5377 Guaranteed-Issue Life Insurance(Indiana Residents Only)
So, you've been told that you don't qualify for life insurance due to your medical condition? I’m here to tell you that coverage may be available, if you know where to look. I’m referring to Graded Death Benefit policies available from life insurance companies. Stated simply, such policies pay an increasing death benefit each year you’re insured with the company. Let’s assume you apply for a $10,000 benefit policy. If death occurs in Year 1 when the policy is issued, the company will only return premiums paid. In Year 2, the policy pays 50% of the death benefit, or $5,000. The full death benefit ($10,000) is paid in Year 3 and every year thereafter. In Indiana we have little trouble providing affordable life insurance coverage for our clients with chronic illnesses, depending on how they answer one health question on the application. Here’s the question: “Are you currently confined to a hospital or hospice, or have you been told by a medical practitioner that you have a terminal illness?” If the answer to that question is “No,” the application will most likely be approved. Consider the opportunity for individuals, including those on Social Security disability or SSDI, with illnesses or diagnoses such as lupus, diabetes, HIV positive, mental or nervous disorders, multiple sclerosis, muscular dystrophy, alcoholism, drug abuse, obesity, non-terminal cancer, stroke, or heart disease. Although individuals with these conditions may not qualify for life insurance in the preferred market, coverage is probably available. Graded Death Benefit Life Insurance (Indiana)Our Indiana agency offers a plan that guarantees anyone aged 5 to 80 the opportunity to purchase up to $25,000 of permanent whole life protection by answering one simple health question. It's ideal to cover final expenses. No medical information or exam is required. The death benefit in years one to three is limited to a return of premiums paid in the first year, 50% in the second year and 100% in the third year and thereafter. The full face amount of the policy is payable in all years in case of accidental death.
* Rates are current for 2008 and subject to change without notice. This page and illustrations provided are for summary purposes only and contain a general outline of coverages provided. This is not a contract or policy. For a complete and detailed description of coverages and exclusions, refer to the policy forms. ** Monthly (EFT) - Bank draft from a checking account on the same day each month. For more information, contact Dave
MacDonald
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