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Today’s Video Is An Official Guide To Get Life Insurance If You Have A History Of Seizures Or Epilepsy
NOTE: Would you prefer me to present this information to you in video format? Watch the video below for the complete presentation. Enjoy!
Here’s An Overview Of Today’s Topics:
- Define What Is Epilepsy
- Qualification Considerations For Life Insurance With Epilepsy
- The Factors To Figure Out If People With Epilepsy Can Qualify For Life Insurance
- The Types Of Insurance That Are Available To Epileptics, Including A Simplified Issue Whole Life And Term Insurance & The Pros And The Cons And Show You Sample Rates Of Each
- Case Study Examples
- Stories From The Field
- Top 7 Reasons People Buy Whole Life Insurance
- How To Qualify For A Life Insurance Program
- Next Steps
What is epilepsy?
Epilepsy is a neurological disorder which is marked by sudden episodes of sensory disturbance, loss of consciousness or convulsions. Epilepsy is something that can be caused from a disease manifestation or an outside source of trauma.
I had a friend who is an epileptic because he had a traumatic brain injury in a car wreck and has had epileptic seizures as part of his daily life which he must manage.
Depending upon the severity and diagnosis medications like Lamictal, Gabbapentin, Keppra or Topamax can help minimize or eliminate the convulsions altogether.
There are some people who have had seizures for years but as long as they take their medication on a strict schedule, they completely eliminate seizures altogether. With all that said, let’s talk about what you can qualify for regarding life insurance if you have epilepsy.
Can you qualify for life insurance with epilepsy?
The short answer is yes, you can qualify. The long answer is depends on some factors related to how severe your epilepsy really is.
Let’s go ahead and talk about those factors right now. Here’s what we’re going to be looking at as somebody who has epilepsy and what I’m concerned with discovering.
First of all, I want to know about the seizures you have.
Are these seizures occurring currently? Have these seizures happened in the past? When we do underwriting to approve somebody or at least apply for life insurance, we need to know the seizures and the frequency in which the seizures occur.
Qualification considerations for life insurance with epilepsy
In most circumstances, the longer out the seizure has occurred, the better the chances are to get a policy in place. That doesn’t mean there aren’t carriers who will work with you if you’ve had a recent seizure. I know several carriers off the top of my head that will.
The frequency of seizures is another consideration. For example, if you’ve had one in the last year that may have a different underwriting decision or effect than say a hundred seizures.
Medications you use are also considered. Which medications are you using? How long have you been on medication and what dosage are you using? That sometimes has an impact on which plan you will be approved for or which plan we would apply you with.
We will also consider the original diagnosis of your epilepsy. When we were originally diagnosed with epilepsy? Do you have any other health conditions that may play a role with affecting the epilepsy? Sometimes people with epilepsy have other health conditions and so we have to look at those equally as much as the epilepsy.
Types of life insurance for epileptics
Let’s talk about the types of life insurance that are available for epileptics. What we need to talk about are the options that would suit you best.
Now, ‘best’ is a subjective term that is unique to each individual person. The best insurance for one person is going to be different from another person, that may be their worst insurance. What we try to figure out when we sit down with a client are their goals and their expectations from a life insurance plan.
It’s really important as an agent to listen to you, to allow you to fully communicate, to envision what you want that to pay for or to go towards; what you want your life insurance plan to do. We need to know what your hopes and motivations are for a life insurance plan to begin with. With the information you provide us that allows us to go enhance, select what we feel matches your goals the best.
We are here to help you find affordable, high quality life insurance coverage. To get your own individualized quote, call us at (888) 626-0439. You can also send us a request using the message box on this page.
It takes 10 minute or less and you will be under no obligation to buy from us.
Case study examples
Additional Coverage Need
A gentleman gave us a call at Buy Life Insurance for Burial last year because he had received a big promotion at work. While he was thrilled about the increase in salary, he also realized he needed to add to his existing insurance policy to adequately protect his wife and children if he passed away unexpectedly.
The only concern my client had was that he had diabetes. He wasn’t taking heavy doses of insulin, but he did have to carefully watch his diet to keep his blood sugar under control. He wondered if this would have an impact on his application and perhaps cause high rates.
We went to a number of providers with his application and sourced a policy that met his coverage needs as well as budget. He was very happy with the end result and grateful that he was able to qualify at such a premium rate.
Every client comes to us with unique circumstances, so we cannot guarantee coverage for every applicant. What we can promise is that we will work hard to source the best possible coverage to meet your specific needs and concerns.
Epilepsy and 30 Year Mortgage Concern
A client recently came to us after being diagnosed with epilepsy. She had also recently purchased a home and knew now was the time to get life insurance coverage in place.
This client was on a restrictive budget but hoped to get some kind of quality coverage in place that would be adequate enough to cover her 30 year mortgage and health concerns.
We looked at a number of options for this client and were able to offer her first day coverage at a price that met her budget. Though we can’t guarantee the same outcome for every client, we do our best to provide coverage that is affordable and meets our client’s unique requirements.
Let’s talk about some things people buy life insurance for.
One reason people buy life insurance is to pay for final expenses. This includes such payments as the payment for a burial or the payment for cremation. These are expenses everybody will experience and having a life insurance plan dedicated to paying those can provide peace of mind.
They know that they won’t have to come up with money that may not be there at that time or worse yet, having family members like kids or loved ones pass the plate if you will, and try to figure out which of these options would suit them best. Having a plan dedicated for final expenses is a great reason why somebody with epilepsy would like to get life insurance.
Another reason is to replace income. This can be used at any age depending on the circumstances because the inherent need is the same. It typically revolves around somebody who is a bread winner and brings in the majority of the income.
The picture you must paint is imagining your life without that breadwinner or imagining you are gone. If you’re the breadwinner, how will your spouse live? How will they survive? If your income is cut in half, how do you make do with everything that you’re doing currently paying the mortgage and the bills, planning for vacations, paying for kids activities.
These are functions and things which don’t go away. When somebody walks out, the bill still walks in and having a dedicated life insurance plan to replace the income that is now gone from the loved one gives a ton of cushion. It gives a ton of peace of mind knowing that while your loved one’s gone and life will never be the same, at least your lives and your family aren’t going to be so financially destroyed as if you didn’t have that life insurance.
We also see this for older couples who rely on each other’s social security in order to maintain their lifestyle. Buying a life insurance plan to take over when one of those spouses passes away, does the same job- provides peace of mind, a financial cushion and allows life to continue on with less stress than there would be if there was no plan that began with.
Debt repayment is one big reason people buy life insurance. They want to make sure that their debts are handled so their family doesn’t have to repay it. A couple of examples would be if somebody had a business loan, having a life insurance plan to cover the business loan is great.
The bank loves it because they’d rather get paid if they have a business loan as acting as collateral upon death than if they were to go in and do a fire sale. It’s a lot easier, a lot cleaner to take care of matters as well as if you have a mortgage. A lot of people buy life insurance to cover the mortgage if someone passes away.
These are good reasons to own life insurance to cover for these financial obligations.
When you’re looking at life insurance – no matter what walks of life you come from and if you’re an epileptic or not – is what kind of budget do you have in mind? You want to make sure with whatever that you want to purchase, something that is easily affordable.
You may want a big plan but maybe your budget doesn’t allow it right now. It certainly is better to get something than nothing at all. Get something that’s budget conscious that is not going to be a big stressor to continue to keep it because the goal is to keep this for as long as you live and think about that kind of mindset when it comes to actually selecting a plan that you want.
For an epileptic, what I’ve discovered and what I’m going to show you is two different kinds of plans that you may qualify for.
The first kind is called a Simplified Issue Whole Life Insurance. The second type is called a Simplified Issue Term Life Insurance. Let’s take a look at both as well as look at prices and carriers that would accept somebody for life insurance if you have epilepsy.
If you would like to discover what your monthly premium might be, give us a call at (888) 626-0439. We are here to help you get affordable coverage and peace of mind in knowing your loved ones will be taken care of if you pass away unexpectedly.
If you prefer, you can also send us a message using the message box found on this page. We will contact you within 24 busines hours from receiving your request.
Stories from the field
I have had a lot of memorable experiences over the years working in the life insurance industry. I’d like to share with you one such experience that has stuck with me. It’s a story I often share with clients as a reminder of how life insurance is ultimately an act of love, as it provides financial security for your loved ones when they need it most.
A number of years ago I was doing house calls in a rural area of Alabama. As I came to my last stop of the day I pulled into a long gravel driveway and couldn’t help but pause to read 4 x 6 foot sign prominately displayed to the side of the drive.
The sign read: “Any damage done to your person or your property is not the fault of this property owner.” It was signed simply “the Nights”.
Typically when I see threats like this, I immediately turn around and leave. But it was my last house call of the day and for some reason I was feeling perhaps a little too confident.
I parked my car and immediately noticed a man sitting on the front porch staring at me. It was clear he had been watching me the whole time. I felt my pusle increase as I walked toward the house and decided to call out to him.
“Are you Mr. Night?” I asked.
“Depends on who’s asking,” said Mr. Night.
“You’re the man I’m looking for,” I said in a sort of authoritative voice, then laughed at the end.
Mr. Night was not amused. I decided to drop the pretense and get straight to the point, seeing as Mr. Night seemed to not appreciate my humor.
I explained I had received a request card from his wife for more information about life insurance. Since there wasn’t a phone number on the card, I wasn’t able to call ahead, so I thought I’d just drop by.
Mr. Night told me to wait on the porch while he went and got his wife. She came out and gave me a much more pleasant greeting. Mr. Night sandered off toward the garage as I began to talk to Mrs. Night about her request for more information.
She explained that her previous husband had purchased life insurance before he passed away and how much that money meant to her when it came time to pay his funeral expenses.
She understood how final expenses could easily put you in debt if you didn’t have savings set aside to cover the cost. And her pressing concern was that her current husband did not have life insurance.
It was a straightforward process to help her get burial coverage, but there was one rather big problem. Mr. Night had had open heart surgery three years before, and though he was doing good, every insurance policy they had looked into would only offer him coverage after a 3 year wait period.
Mrs. Night knew better than to accept this kind of policy. That’s why she had decided to contact us. I assured her that my company would approve her husband for first day full coverage despite his unique circumstances.
Once we had discussed her husbands health, she said there was one more concern. She could only afford $20 a month for a policy because they were on a tight budget.
Again I was able to show her how we could accomplish her goal with a small $20 a month payment that would cover most of the funeral expenses. Thrilled with this quote, she decided she would go ahead and buy the policy once she got her husband to sign the paperwork.
Not wanting to let any more time pass without coverage, she said she would get her husband’s signature before I left, so we went out to the garage.
We found Mr. Night under the hood of a truck, grease streaking his hands and arms. Mrs. Night said, “Honey, I’m going to buy life insurance on you and all I need you to do is sign the application.”
I waited silently as Mr. Night looked up and glared at me.“I’m not signing no damn insurance papers, ” he yelled. “You’re lucky your not buried dead in my backyard the way you showed up,” he said, pointing at me.
I was ready to book it out of there when Mrs. Night spoke again, working to calm him down. Surprisingly her advise for him to see the sense in what she was trying to do seemed to have an effect on him.
He began to calm down and ended up signing the application a few minutes after he’d said I was lucky I wasn’t dead and buried. As you can imagine I took the application and walked as fast as possible to my car to get the heck out of there.
Besides this being a funny anecdote about my potential demise, there is a reason why I am telling you this story. This is a story I share with a lot of my clients because it’s a great lesson about the importance of getting first day full coverage.
You see, two years later I got word that Mr. Night had passed away. The small policy that his wife had insisted they get would take care of his final expenses, relieving Mrs. Night of the financial burden.
Se didn’t have to worry about funeral expenses during a time that was already difficult. She didn’t have to go into debt to give her husband a proper funeral.
So the moral of the story is don’t shoot your insurance agent – we want to help! We work with a variety of budgets and coverage goals and do our best to get quality first day coverage for all of our clients.
Whole Life insurance for epileptics
Let’s start with whole life simplified issue life insurance. I’m going to describe to you the benefits and show you some carriers that will accept epileptics with a simplified issue whole life insurance.
Simplified issue whole life is what we call permanent life insurance protection. You cannot outlive this coverage as long as you pay it. A lot of people buy permanent life insurance because they want to pay for final expenses or they want to ensure an income replacement policy is enforced at the time of the person’s death.
The good thing about these plans is the vast majority of them have no rate increases ever. Whatever you’re quoted and what you’re approved for is what the price will continue to be for the rest of your life. There’s a pretty high possibility, even with epilepsy – although I can’t guarantee it – that you’ll qualify for first day full coverage.
This means that even if you pass away after one payment, whatever the amount of coverage is for will be paid to your beneficiaries. Like I said, it’s permanent. It can’t cancel due to age or health and it’s primarily used to cover expenses like funeral and cremation costs.
Most plans are available up to age 85 and under. We see coverage amounts as low as a $1000 all the way up to $50,000. I would like to say that in comparing this to the simplified issue term insurance, this is the most flexible underwriting for the people with severe epilepsy. There’s going to be more options with simplified issue whole life.
Rates For $25,000 In Burial Insurance
$150,000 Whole Life Insurance, Life Pay
$250,000 Whole Life Insurance, Life Pay
Then there will be with term insurance. I will show you some quick prices and terms. I’m not going to get too detailed with the prices. I just want to show you what you can kind of expect for a 65 year old female and a 65 year old male for $10,000, which would be enough to cover burial or cremation.
We can go higher or we can go lower. But the goal of showing you these prices and carriers is to show you an idea of what it would cost as well as an idea of what your options are for carriers.
The options that you are seeing are Liberty Banker’s life, Trans America and Settlers Life. This is for males that are looking for $10,000 and first day full coverage and the price point for each over here as non-smokers. Right around the mid-50s areas, what you would be charged for this particular kind of plan.
That kind of demonstrate to you what you could potentially qualify for. For example, Settlers doesn’t specifically ask about seizures on their application in one of their products so you would be allowed to get first a full coverage. Actually, you would be at the silver plan. That would be $66.22 a month.
They don’t ask frequency so if you have a lot of seizures within a short period of time or within relative time, it wasn’t long ago that you had them, they will be very flexible in getting new coverage as long as you can qualify for the other health questions as well.
Let’s take a look at Trans America. As long as your seizures have been consistently under control, meaning less than 12 seizures within a year, you can get preferred coverage. If it has been more than 12 seizures over the last 24 months, then that would cause a rate up and get you standard pricing.
Liberty Bankers for their standard rate would be $81.33. They have more flexibility, but you can see that there’s a big price difference between Settlers and at their silver and then simple celebrity bankers at they’re simplified standard.
It just depends on the circumstances and the individual nature of what your situation is. You can see the same companies that are available for females. There’s Trans America, Settler’s Life and, if all else fails, Liberty Banker’s Life.
Top 7 reasons people buy Whole Life Insurance
1.Does not cancel due to age or health
If you are looking for long term protection, whole life insurance is a great option. It is considered a permanent solution for life insurance coverage because it lasts a lifetime, offering coverage no matter when death may occur.
2.Rates never increase
A set, reliable rate is an incentive of a whole life program. Rates are predictable and guaranteed to never increase regardless of age or health.
3.You can pay up your whole life insurance
When properly designed, a whole life insurance plan can be paid up after many years of payments.
4.Can grow tax-free cash value
Many whole life insurance plans can be designed to develop what’s called cash value. This means dividends increase the cash value of the plan which can be borrowed if you are in need of extra cash. Generally speaking, the cash loans are tax-free, which is especially useful in retirement situations where people are looking for programs to develop their retirement plan.
5.A permanent solution to permanent problems
If you are worried about paying your final expenses or other permanent financial obligations, whole life insurance is a great solution, as it is a permanent coverage plan that will see you through the duration of your life and provide your beneficiary with a death claim payout upon your death.
6.Exams are optional
The competitive nature of life insurance has led many companies to do away with the exam requirement, allowing instead a non-medical application to qualify for whole life insurance.Rather than getting a physical and having blood drawn, often you can submit your previous health records instead for underwriters to determine your eligibility.
7.Best use of your premium dollar
Though whole life insurance costs more than term insurance, over the lifetime of the policy it is a better dollar per dollar value, given that it offers permanent, non-canceling insurance coverage.
Pros and cons of Whole Life Insurance for epileptics
The pros is you get peace of mind. Simply put, you pay your premium, you know you have coverage and it cannot be taken away because of some sort of change in your health or age. There’s no games played. A lot of these insurance companies will raise your rates or cancel you out or reduce your coverage. You don’t get that with at least the whole life insurance products I have.
What you see is what you get. You know clearly what you qualify for based on circumstances and there are no changes long-term. I can’t stress that enough. That’s very good. It’s easier underwriting. What you’ll find is in comparison here momentarily, whole life for epileptics as much easier to qualify for it seems than term insurance products are.
Drawbacks include that you’re going to pay a lot more per dollar of coverage if you’re getting a whole life product instead of term and it may not be sufficient and the amount of coverage because of that. If you’re younger and you’ve got epilepsy, it may be better to get term insurance to cover some of these potential obligations.
But if you’re older, whole life makes it a little bit more sense just because usually what was required to be paid for is just the basics, the funeral, the final expenses.
Term Life Insurance for epileptics
Benefits of term life insurance include the best coverage per dollar of premium. The thing here is you’ll get a lot more coverage if you run a term insurance plan. There’s no exam necessary with many of these plans, so they don’t have to draw blood or perform a physical. They just look at your medical records to determine insurability. The rates are set for a fixed period of time.
In term insurance last, whether it’s 10/ 20/ 30 years, depends on the product. But for that period of time, the rates are fixed and you can get a lot more coverage amount with term insurance versus whole life insurance.
Term Life Insurance Coverage – 10 Year Term – $100,000 in Coverage
Term Life Insurance Coverage – 10 year Term – $250,000 in Coverage
Term Life Insurance Coverage – 10 year Term – $500,000 in Coverage
Term Life Insurance Coverage – 10 year Term – $1,000,000 in Coverage
Where we see term insurance most useful is when we try to replace an income upon an untimely passing or if we need to cover a debt like a mortgage. With many carriers for term insurance, you’ve got availability up to the mid seventies.
As far as the amount of length of time goes, that depends and you can get much larger coverage. Again, $25,000 minimum up to $500,000 – depends on the carriers. Each carrier has different requirements.
I’m going to show you some quotes.
I want to direct your attention to is the Sagicor and America National. These are 20 year terms for a 40 year old male for $300,000 in coverage. These are just quotes based on if you could qualify for them. When we’re looking at Sagicor, they will accept in most circumstances. People have epilepsy as long as they’ve had no convulsions over the past 12 months; it depends on your individual situation. .
American National potentially will take standard ratings, which would be what you see in the prices depending and making sure that you can qualify a subject to other health questions. Same thing with Phoenix Life. We have two different standard products.
It just depends upon the underwriting goals here and what the circumstances will turn out to be for each individual.
The main thing I want to demonstrate to you is that there are options that give you an idea of what you would pay and what you would get. Ultimately it’s going to come down to your unique health profile and you actually applying the see what the underwriter is willing to offer you potentially for coverage.
Pros and cons of Term Life Insurance for epileptics
Let’s talk about the pros for term insurance for epileptics.
The first thing is there’s no exam necessary so you don’t have to submit yourself to an examination with most of the amount of coverage that we’re looking at. As long as you do the simplified issued products, they’re very easy to complete, very easy to get going. There’s not a lot of hand wringing involved, just submit your application.
Many times you get the decision very quickly. Like I said, the pros with term insurance is that it’s the best and the best price for the amount of coverage you’re getting.
The biggest drawback though is that bottom line term terminates. You have to understand when you get a 20 year term or whatever the length of time is, it’s good just for those 20 years and then above and beyond that it’s not – you lose it or the price goes up.
What do you do then? You may not have the coverage access that you really need when you need it. It’s important to really weigh the options considering where you’re at. Many times people just compare prices if they’re not for sure, and decide what they can reasonably afford and make their purchase decision.
How to qualify for a life insurance program
Let me talk about the final steps here as we wrap up. To qualify for a quality life insurance program – whether you do simplified issue term or simplified issue whole life – the application process is very simple.
First you find an agent that you’d like to work with. Of course, I always nominate myself. I’m an insurance agent and would love the opportunity to help you out.
Second, if you work with me, we gather up the information, what you’re trying to accomplish. Then we draw a quote up, as long as you accept it, we send in an application electronically or over the telephone, which is completely easy to do. It’s very simple. I’m not necessarily required to be there face to face.
After several days or weeks, you get a decision, whether you’re approved or not. It’s pretty quick turnaround. If you’re approved, you get your policy in the mail in several weeks. Pretty straightforward.
Now, if you like what you hear and you’d like to apply for one of these programs as an epileptic looking for life insurance, here’s what you need to do.
Visit my website buylifeinsuranceforburial.com and request a free quote via the Messenger at the bottom of your screen on the website.
You can click the contact box at the top of the page or the message box at the below. Send me a message, tell me what you’re looking for.
You can also call me on 888-02-646 to speak with me live. Just want to call it is fine. Leave a message if you don’t get me. I speak a lot of people all the time, I’m always on the phone and I’ll get back to you quickly. I can tell you in 5 – 10 minutes how it’s going to work. If it’s great, perfect. If it’s not, I am not going to give you a hard time.
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Thanks for stopping by and reading this article. I hope it has proven useful. If you would like to find out more about what you might qualify for, get in touch by calling us at (888) 626-0439 or sending us a message.
We look forward to speaking with you more about your life insurance options.