G. A. MacDonald Associates, Inc.
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
Graded-Benefit
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, mental or nervous disorders,
multiple sclerosis, muscular dystrophy,
obesity, . 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.
|
Graded Death Benefit
Indiana Whole Life Insurance Policy
$10,000 Benefit (Smokers &
Non-Smokers)
INDIANA
Premium Rates * |
| |
Male |
Female |
| Age |
Monthly
EFT ** |
Quarterly |
Monthly
EFT ** |
Quarterly |
| 5 |
$12.53 |
$38.16 |
$11.89 |
$36.23 |
| 10 |
13.24 |
40.33 |
12.35 |
37.60 |
| 15 |
14.22 |
43.33 |
13.09 |
39.88 |
| 20 |
14.99 |
45.66 |
13.79 |
42.00 |
| 25 |
16.10 |
49.05 |
14.80 |
45.08 |
| 30 |
17.60 |
53.61 |
15.99 |
48.71 |
| 35 |
19.70 |
60.00 |
17.62 |
53.66 |
| 40 |
21.99 |
66.99 |
19.48 |
59.33 |
| 45 |
24.99 |
76.11 |
21.81 |
66.44 |
| 50 |
30.72 |
93.57 |
24.63 |
75.02 |
| 55 |
37.93 |
115.54 |
29.72 |
90.52 |
| 60 |
48.07 |
146.41 |
36.81 |
112.12 |
| 65 |
62.74 |
191.12 |
46.48 |
141.59 |
| 70 |
82.69 |
251.88 |
60.67 |
184.78 |
| 75 |
111.96 |
341.03 |
81.38 |
247.88 |
| 80 |
153.55 |
467.73 |
114.09 |
347.52 |
* 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
Toll-free: (877) 341-5377
Local: (260) 422-5377
(Indiana Residents Only)
Indiana Guaranteed Issue News & Information
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