There aren’t many weeks that go by without hearing from someone who has finally figured out that they should have life insurance…..because their own mortality has been flashed before their eyes. This can come in the form of losing a friend or loved one or perhaps being in an accident and coming out with that thought in your head that, “Oh my God, I’m alive and probably shouldn’t be”.
Those are the easy ones to deal with. A wake up call with no harm done. But all too often the wake up call is because of some dramatic change in our health. People who have been diagnosed with cancer or who have had a heart attack tend to have a sudden, often fervent desire to look into the life insurance that they have been ignoring for years. They realize that they have blown the chance at getting good rates on the protection they now want and are desperately hoping that somehow this one health scare will be looked at by life insurance underwriters the way one speeding ticket would be looked at by an auto insurance company.
We all look for those second chances in life. Unfortunately, when it comes to the best rates that a life insurance company offers, with serious health issues there really are no second chances out there. If you are easily jolted into action by something minor like your cholesterol being a little too high, or with a few companies, your slightly high blood pressure needing a little medical nudge to get back to normal, you’re still in the running. Just about anything more serious than that will bump you at least one rate class, if not more.
So, and this is what all Americans really want to know, how do you beat the system? First and foremost you need to have a serious talk with yourself about your responsibilities and how, even though you are young and healthy, if something happens you will have failed to take care of those who depend on you. Second, you need to get over (we’ve all been here) that young, healthy feeling of immortality. You may live to be 120 and you may die tomorrow or be diagnosed with a terminal illness next month.
That’s the bad news. The good news is that for healthy people life insurance is probably the least expensive insurance you will have in your portfolio. Get it while you’re healthy. Get it while you’re still a good deal.
Having said all of that, should people with health issues give up on owning life insurance? No! It will cost more than your completely, disgustingly healthy cousin, but for almost everyone it is still available and with the help of a good independent agent, you can get the job done.
Bottom line. Life insurance is a good deal for family protection even when you don’t qualify for the best rates. Where else can $50 or $100 a month buy your family hundreds of thousands of dollars worth of peace of mind? Look into it today.