The Insurance Insider

I’m pleased to announce that our agency is now able to write up to $25,000 whole life insurance coverage on children with Down Syndrome in the State of Indiana. 

No exam is required. Only one health question is asked. And as long as the child is not currently confined to a hospital or hospice or has been advised they have a terminal illness, they generally qualify.

For more information, visit us here: Down Syndrome life insurance

Individuals with chronic health conditions may mistakenly assume that they cannot obtain life insurance coverage. 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 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 with illnesses or diagnoses such as lupus, diabetes, HIV positive, mental or nervous disorders, alcoholism, drug abuse, non-terminal cancer, stroke, or heart disease: although they may not qualify for life insurance in the preferred market, coverage is probably available.

For more information about life insurance for chronic illnesses in Indiana, please visit our website.

Articles and information about life insurance and life insurance quotes