Although most policies have waiting periods, it is important for some people to have life insurance, which will not require them to wait two or more years to benefit from the insurance.
This is because several factors like age, weight, gender, and pre-existing medical factors have to be considered if you want to apply for guaranteed acceptance life insurance with no waiting period.
Here is an overview of who should apply for this type of policy:
This policy is mostly meant for senior citizens, mostly between the ages of 55 to 80. Older people can apply too. Even if the person has been declined traditional whole life insurance, they should still apply for this policy, and they are most likely to get approval.
Who should apply for this policy?
If you feel you fit any one or more of the following categories, then you should apply for guaranteed acceptance life insurance with no waiting period.
If you are suffering from any terminal illness like lung diseases, advanced heart disease, motor neuron disease, or any other such illness, you should apply for this policy.
The insurance company will ask for your medical records and medical history. Depending on your health condition at the time of applying for the policy, they will decide on the premium.
Those who have any chronic diseases should apply for this insurance.
The diseases are mostly related to obesity, asthma, advanced arthritis, cystic fibrosis, chronic obstructive pulmonary disease, diabetes, and reflex sympathetic dystrophy syndrome.
These conditions can keep worsening with age, and the person’s condition could suddenly deteriorate, making it imperative that they have insurance to see them through the difficult phase.
Cancer, depending on the stage which has reached and the kind of treatment one is getting, could quickly become a terminal illness. Cancer not only weakens the body, but it has a terrible impact on the patient’s psyche.
Applying for this insurance gives them the peace of mind that they have the insurance to fall back on if things suddenly take a turn for the worse.
Not Wanting To Take a Medical Exam
Applying for a regular policy, which involves a waiting period, also often requires applicants to undergo comprehensive medical examinations.
However, many senior patients, who might have already made several rounds to the hospitals, do not want to undergo any more tests after a point. Some are just not okay with hospital visits or tests. They should apply for this kind of policy and are likely to get approved.
Getting a guaranteed acceptance life insurance with no waiting period from Gary P. Cubeta from Insurance for Final Expenses helps the loved ones pay for the expenses of caretaking that the person might need at the end of their life.
It makes their final days easier and keeps them free from additional stress and worries as the insurance coverage can be used to pay for essentials like bills and groceries or medical expenses. Find out more about this insurance if you are, or you know a senior citizen.