What Is Impaired Risk Life Insurance?
Impaired Risk Life Insurance refers to specific cases where an applicant would be rated less than at a “Standard” or better risk class, due to personal medical history or occupational hazards. Rated cases increase premiums based on a specific life insurance company’s underwriting review and final offer or a possible decline.
Am I insurable and/or I have been declined coverage?
The best approach to securing life insurance coverage when involving special risks is to go through a pre-underwriting inquiry process with a high percentage of the major, highly-rated, life insurance carriers and find your absolute best offer. Depending on the given personal health issue or risk of concern, there may be a specific “impaired risk” insurer or insurers who would perhaps look more favorably at the specifics of the case rather than simply not really wanting to accept the risk at all, or that make an offer with a substantially negative rating, up to several times the desired Preferred or better health-class premium. The solution involves a more specialized type of underwriting system known as “Clinical Underwriting” where they look more thoroughly at the individual’s personal lifestyle in conjunction with their medical history, or their experience around a particular hazardous situation. Rather than lump someone into a general category based on the risk, the underwriters look much deeper at the specifics of the case holistically, and therefore the possibility of a more favorable outcome and better offer. In other words, you could have had a heart attack 3-year’s ago then turned your physical condition around by starting medication, changing diet, getting in shape and taking overall better care of yourself, yet most companies label you the same as someone who has the same condition but doesn’t manage their health. Even if you have been declined coverage when previously applying with one company doesn’t mean you are not insurable. Did your agent have the proper resources and actually “shop the marketplace” for you? Take advantage of Kettler Financial’s no hassle pre-underwriting inquiry process to comb the impaired risk marketplace for you and find your best, most cost efficient life insurance options.
Fred Kettler, Financial Coach
Kettler Financial – Serving the Greater Miami Community
Coral Gables – Pinecrest – Coconut Grove
1560 S. Dixie Highway Coral Gables, FL 33146
Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 14021 Metropolis Ave., Fort Myers, FL 33912. 239-561-2900. PAS is an indirect, wholly-owned subsidiary of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Kettler Financial is not an affiliate or subsidiary of PAS or Guardian.
2017-36377 Exp 03/2019