You have the life insurance you and your family need. Your policy is in place and whatever happens to you, your loved ones will always be financially secure. You thought your diabetes would prevent you from getting the coverage you needed. The premiums would be too high. To your surprise, your well-managed condition and overall risk landed you an affordable policy that meets your life insurance needs. When you purchased your life insurance policy a few years ago, you were turning a corner in your life. You decided to treat yourself and your body like someone with a family depending on them. Can you now have life insurance reconsideration? Your health has improved. You eat a healthy diet, exercise daily and quit smoking. You have never been this healthy in your life. Your blood pressure and cholesterol has steadily improved under the guidance of your doctor. Nice work! And you are certainly wondering…
Can I talk to my life insurance agent about reevaluating my risk in light of my improved health condition?
The answer is yes! Absolutely! Different insurers have varying policies regarding changes to your coverage. Some may require a health exam or questionnaire, or request medical records from your doctor. But …
Always remember that as your health improves, so do your life insurance premiums.
If you have diabetes and have made significant lifestyle upgrades to control your diabetic condition, then you should talk to your agent about paying lower premiums for your life insurance coverage. In addition to improving your diabetes risk, you have probably lowered your weight and cholesterol and improved other health factors that will further reduce your health risk. Altogether, the savings on your life insurance premiums could be significant.
And because you are changing a policy that is already in force, you may have the advantage of having your premium based on your age when the policy was originally issued, saving a lot of cash over replacing your current policy with one based on your current age.
The may part is very important. There are some life insurance companies that allow you to reevaluate the risk of your in-force policy to reduce your premiums, Yet, some companies do not allow this and will require you to replace your present policy with a new one based on your current health and age. Ogletree Financial Services represents around 40 high-ranking life insurance companies and we know which ones will be most receptive to you and your unique life insurance needs.
If you have lived an unhealthy lifestyle but you are making changes to improve your health, finding a life insurance company that has a generous policy regarding your efforts is key.
If you are eating a healthy diet and exercising regularly and are confident in your dedication to improving your health, getting your life insurance with a company that allows you to reduce your premiums on an in-force policy could save you a lot of money.
Even if you were to have a policy with an insurer that did not allow you to make these types of changes to an in-force policy, you could still save money by improving your health. Let’s say you are able to quickly elevate your health, say within a year or two after you buy your policy. In this case, the year or two increase in your age could be much less significant than the improvement in your health, when it comes to the size of your life insurance premium.
Whatever the case, it important to get a policy in place as soon as possible.
No one can predict the future. What if your health issues were to worsen? What if other health risks or happenstance of life enter the picture? Get a life insurance policy in place now and you can worry about changes to your coverage later.
The reason you want life insurance is to protect your family. If the worst were to happen to you, you want to make sure that the immense hardship your family will bear is not made exponentially worse by years of financial troubles. This is not something to put off.
Getting The Right Amount Of Life Insurance
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When you’re looking to get lower rates because of your improved health, it’s also a good time to look at your life insurance policy and ensure that you’ve got enough life insurance. Not only is it important to get quality insurance as soon as possible, but it’s vital to get the right amount of coverage for your family. Not having enough life insurance is going to leave your family with additional bills that they don’t have the money to pay for. When you’re calculating your life insurance needs, there are several categories that you’ll need to consider.
The first number that you should crunch is your debts and other final expenses that your family would be left with. The primary goal of your life insurance plan is to give your family the money that they need to pay off your bills. Make sure that your life insurance policy is large enough to pay off your mortgage, student loans, and all the other major debts that your loved ones would be left with.
The next number that you should look at is your annual salary and how many people rely on that income. If you were to pass away, and you’re one of the main streams of money in your home, then your family would struggle without that paycheck every month. A life insurance policy will ensure that your family has the money that they need to replace your salary without sacrificing their standard of living.
Every family is different, and each person is going to need to decide how much life insurance they will need to buy. There is no “magic number” that will work for everyone, but most experts suggest getting between seven and ten times your annual income.
You want the peace of mind that quality life insurance coverage can bring. Not next week, but now.
At Ogletree Financial Services we can get you the life insurance you need, regardless of any health condition you may have. While you may not qualify for a preferred plus rating, we will get you the best rating possible. We can compare how 35+ life insurance companies will evaluate your complete and unique risk, not just your health condition.
Working With An Independent Insurance Agent
The best way to get lower insurance premiums is to work with an independent insurance agent. Unlike a traditional agent, independent brokers work with dozens of insurance companies across the nation. Every insurance company is different, which means that you could get drastically different premiums based on their rating system.
If you want to get the lowest rates, you’ll need to compare dozens of companies before you decide which one is going to work best for you. Instead of wasting your time calling all of those companies, let one of our independent agents do all of the hard work for you.
Our experienced agents have worked with all kinds of different applicants across the country and they know which companies are going to give you the best rates based on your needs. If your health has improved, then there could be a better insurance company for you. Our agents can bring all of the best rates directly to you, without the hassle of answer the same questions over and over.
Working with one of our agents can save you both time and money on your new life insurance search. Improving your health and working with an independent agent are two of the best ways to cut your premiums down and save money on your plan.
My Health Has Improved – Can I Have Life Insurance Reconsideration?
If you have any questions about getting affordable life insurance, please contact one of our agents today. We would be happy to answer those questions and connect you with the best plan to meet your needs. It’s our mission to get quality insurance at an affordable rate.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance coverage that your family deserves. Nobody wants to think about his or her death, but not planning for the inevitable is one of the worst things that you can do for your family.
No two clients are the same just as no two life insurance companies are the same. Pairing a client and their risk with the life insurance company that will look more favorably upon that risk is what we do at Ogletree Financial Services. You may be surprised at what we can do for you.
Get started now with the instant term quoter on this page, leave a message through our contact page, or call us at 1-800-712-8519.
Frequently Asked Questions
Can I talk to my life insurance agent about reevaluating my risk if my health has improved?
The answer is yes! Absolutely! Different insurers have varying policies regarding changes to your coverage. Some may require a health exam or questionnaire, or request medical records from your doctor. Check with your life insurance agent to get the details.
If I quit smoking, can I get my life insurance premiums lowered?
Some life insurance carriers will reevaluate an insured’s premium if they have quit smoking for at least two years. Each carrier is different so you will need to check with the company who issued your policy.
Should I get healthier before I get a life insurance policy?
This depends on your health issue and the insurance carrier. You can move forward with a policy, in order to have the coverage, and then work on your health issues. You can check with the life insurance company to see if they will reconsider your rating and lower the premium if you correct your health issue.