Think You Cannot Get Life Insurance? Think Again

Whether you have a chronic health condition, work in a high-risk occupation or simply find yourself nearing those retirement years, chances are you have faced the prospect of going without life insurance.
Instead of forgoing coverage, use these tips to find affordable coverage options and protect the financial future of your family.

Low-Cost Term Life Insurance

Term life insurance is an especially helpful option for those deemed high risk. Ask about graded or high-risk policies that provide coverage for a set period of time (1 to 40 years) without a medical examination or questionnaire.  Typically the shorter the term, the less expensive it is. However, the benefits of locking in a lower price over a longer period of time could become more cost-effective in the future. Take time to review your individual insurance needs to weigh cost versus duration while taking the rate of inflation into account.


Supplement your primary policy with other options such as mortgage insurance or an accidental death policy. Mortgage insurance pays the premiums on your home, while an accidental death and dismemberment policy provides coverage in the event that you are hurt or killed due to an accident. Other supplemental policies are available to pay off your credit cards, car loans or other obligations at relatively affordable rates and without the need to take a medical exam. With a little planning, it’s possible to provide meaningful coverage for your family.

June 2009