Term Life Insurance Huntsville, AL
Reader’s Question:
I don’t know how I will sound with this but for curiosity’s sake, I’ll ask this question. I am from Huntsville, Alabama and plan to buy term life insurance soon. Is term life insurance applicable for sick people?
Hero
Huntsville, AL
Hi Hero.
Don’t worry about asking since we’re here to answer your curiosity. Besides, I think your question is very 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 Huntsville, AL. Insurance risk means that the insured may be at risk of dieing anytime within the term. This is not a good sign for the insurance company as they would be obliged to pay the insurance accordingly and very soon. If ever, there are companies who think that it’s ok to insure the persons with conditions above, they would charge higher premiums.
So to answer your question, insurance companies usually do not qualify sick person for term life insurance. They would rather offer other insurance products that suit the person’s conditions such as life insurance for the ill or smoker’s life insurance. In other words, there are life insurance products that specializes different conditions of the person. Term life insurance is generally for those with no health problems but with concerns on beneficiaries’ needs in the event of sudden or unexpected death. Term life insurance is not generally suitable for sick persons.