Cheap Life Insurance Quote

Reader’s Question:

I am a 28-year-old female, non-smoking, but do have 3 chronic illnesses. I have a well-documented health history, which up until recently was very good so it could have helped me, but recently I have been hospitalized quite a bit and have had a lot of problems so I’m not sure it would be a good thing anymore to try to prove I’m “healthy.” Is it even possible for someone like me to get life insurance at a cheaper rate?

Andrea

Philadelphia, PA

Getting a life insurance with cheaper rates depends on several factors, including what may is reasonable for you. Typically, the insurance companies take into consideration your age, your health, your pre-existing conditions, type and amount of life insurance you want, the specific illnesses, among many other factors in deciding whether they will grant you coverage and the rates of the premium they will charge.

Remember that all applicants for life insurance go through an interview process and it is best to answer all questions truthfully and to disclose all health conditions to the underwriter right at the beginning. If the insurance company comes to know of your pre-existing conditions, it is up to them to ascertain if such a condition could actually affect the mortality or whether the risk could be offset through a premium hike and for them to be able to establish if their potential to cover risks.

Start to contact a life insurance agent in your area for quotes from plans or for referrals to companies which accept people with medical conditions. Also you can request quotes online for the best plans available.

In case you are turned down by insurance companies, you may also consider Guaranteed Acceptance Life Insurance. However, inclusion depends on the insurance companies as most insurance companies offer this type of policy to ages 45 to 74. Still, here is no harm in trying.