Term Life Insurance Leads Lexington-Fayette Kentucky KY
Reader’s Question:
I don’t know how I will sound with this but for curiosity sake, I’ll ask this question. I am from Lexington-Fayette Kentucky KY and plan to buy term life insurance soon. Would term life insurance be applicable for sick people too?
Daniella
Lexington-Fayette, KY
Don’t worry about asking since we’re here to answer your curiosity. I think your question is somewhat relevant as most people think that term life insurance is for all. The reality is some insurance companies do not qualify people for term life insurance for the following conditions:
• age of above 50
• with health problems
• chronic smokers
The conditions above are considered as insurance risks for many term life insurance companies in Lexington-Fayette Kentucky KY. Insurance risk would mean that the insured may be at risk of dying anytime within the term. This is not a very good sign for the insurance company since they will be obliged to pay the insurance accordingly and very soon. There would also be companies who would think that it’s ok to insure the persons with conditions above, they would charge higher premiums.
Insurance companies would usually disqualify sick persons for term life insurance. They would prefer to offer other insurance products which suits the person’s conditions such as life insurance for the ill or smoker’s life insurance. There are life insurance products that specialize to different conditions of the person. Term life insurance will be for those with no health problems but who have concerns on beneficiaries’ needs in the event of sudden or unexpected death. Term life insurance is not very fit for sick persons or those who have fatal illness.
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