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How To Qualify For Life Insurance With Lou Gehrig’s Disease

How To Qualify For Life Insurance With Lou Gehrig's Disease

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Today’s Video Is All About The Official Guide To Get Life Insurance If You’ve Been Diagnosed With Lou Gehrig’s Disease

You’re reading this because you or your loved one likely has Lou Gehrig’s disease and you’re investigating your options at this point and taking out life insurance.

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 Topic:

Can you qualify for life insurance with Lou Gehrig’s disease

The first thing that you probably wondering want an answer to is can you actually get coverage if you have Lou Gehrig’s disease?

The short answer is most likely, yes. The long answer is that your options, to some extent, depend on your age and on other combinations of health elements.

Either way, what I’m going to do here is describe to you how this particular product works and under what circumstances this particular product would be a good idea.

Top 5 reasons why people buy life insurance from a broker

1.Want the best rates
Broker’s represent a number of companies, which means they can shop for the best possible rates. Working with an agent typically leads to one, set price, as agents only have access to one particular product.

2.Wants the most coverage
Along with sourcing out the best rates, brokers are able to look for the most coverage per dollar because they have access to many different kinds of providers that offer different types of policies.

3.Wants client-focused service
Due to the many options available to them, brokers will want to focus on meeting your goals and budget to find the best policy for your particular situation.Agent’s, on the other hand, are simply focused on selling their product because they only have access to one option. So it doesn’t really matter what your goals or budget might be, they will only have one option to offer you. This can end in disaster if your plan doesn’t work the way you need it to work.

4.Bias reduction
Because life insurance approval relies on age, health, and a number of other determining factors, there will always be a small amount of bias involved during the application process.But brokers are able to minimize this bias due to their access to a diverse range of providers who work with different health conditions and age groups.

5.Appreciates options
Options are important. If you can’t customize your plan the way you want, then it might not work the way you need it to. Options give you the chance to make those customized tweaks.

Because brokers have access to a number of providers, they are able to customize your policy to fit your specific needs. 

Curious what your monthly rate might look like? Give us a call for a free quote at (888) 626-0439. You can also send us a request and we will be happy to respond within 24 business hours with more information.

Types of life insurance for Lou Gehrig’s disease

The types of life insurance available for Lou Gehrig’s disease revolves around what you were determined to be best. Best is a subjective word. Best means different things to different people.

One of the first questions I would have you ask if you’re looking for a life insurance plan and have Lou Gehrig’s, is what do you want a life insurance plan to do for you? Is it something you want to cover?

  • Do you want the insurance to cover final expenses? Do you want enough to bury you or cremate you?
  • Do you want the life insurance to replace your income
  • Do you have a spouse you’re worried about that you’d like to supplement your own income once they pass because it will alter the total income to support the lifestyle that you have?
  • Do you have a debt that you’d like to repay.

All of these are excellent reasons to purchase life insurance because money walks in as soon as somebody walks out. Unfortunately, debt and income requirements and the expenses to bury someone don’t magically go away when someone dies. They come to life and are due immediately in many cases.

The second question you have to ask is, what kind of budget do you have in mind? Are you looking for something that would work for your budget? That is hopefully what you’re doing. You want to find something that I would deem as easily affordable. The best kind of life insurance is the one that’s there when you pass away. By default that’s the one you could have easily kept all those years.

When you’re looking for a plan that’s important to keep perspective, make sure you can find something that does fit your budget that’s easily affordable.

Guaranteed Whole Life Insurance for Lou Gehrig’s disease

When it comes down to what you may qualify for when you are looking for life insurance if you have Lou Gehrig’s disease, the only option available is guaranteed acceptance whole life insurance.

Let’s break down how that works and give you the pros and the cons. Guaranteed Issue Whole Life insurance works exactly like this.

The pros are the premiums never increase.

When you get a guaranteed acceptance life insurance or no questions asked life insurance – they are same – through myself or through another company, the premiums never rise. They are locked in place.

The coverage never cancels due to age or health. The great thing is you cannot outlive this kind of coverage. It’s permanent protection.

However, there are downsides to be fully transparent.

The first downside is that no full coverage for the first two years. If natural a death occurs, say if you die by the onset of Lou Gehrig’s disease, this plan will not pay out.

It pays only for accidental death for the first two years. Once you pass the two year period of time, even if it’s a day after, you be fully paid out for how much ever coverage that you did have on the books.

Generally speaking, there’s a limitation that providers will give somebody who has Lou Gehrig’s disease or any other health condition that qualifies for guaranteed issue. They usually max out the coverage of $25,000 although there are ways to get more.

You can buy multiple policies. There are no rules against that. This is something I can help you with. Let’s look at some prices and carriers.

What I’m doing here is take you through a 60, 70 and 80 year old male and female non-smoker rate for $10,000 in coverage. I want to show you the companies that are guaranteed acceptance and then I also want to show you some sample rates as to what those age ranges would be.

If you fall below that, it’s going to be less expensive; if you are above that or in between, then the price will be modified accordingly. Let’s take a look and see what the options would be.

If you have Lou Gehrig's disease, the only option available is Guaranteed Acceptance Whole Life Insurance

60 year old female, $10,000 Whole Life Guaranteed Issue Plan

When you take a look here, you’re looking at a $10,000 whole life guaranteed issue plan. Specifically what I’m going to point out to you would be American General and the Gerber Life plans, these are the only two worth considering since they have the most competitive rates for all ages and that are looking for guaranteed issue.

70 year old female, $10,000 Whole Life Guaranteed Issue Plan

If you’re 60 year old female, $10,000 and then if we bump up to 70 years old on a quote machine for same companies, you’re looking at upper 60s to mid 70s.

80 year old female, $10,000 Whole Life Guaranteed Issue Plan

Then at 80 years old for $10,000 in coverage, you’re looking at between $135 and $176.

It just depends on which company you want and which, in most cases, it’s the least expensive.

You can take a look at males and start at 60 years old.

60 year old male, $10,000 Whole Life Guaranteed Issue Plan

These are all no questions asked insurance prices. What that means is that it doesn’t matter what you have, if you’ve got something else other than Lou Gehrig’s disease, maybe COPD or you’re wheelchair bound, it doesn’t matter.

These are guaranteed acceptance life insurance plans, a $10,000 plan for a male, 60 years old, mid fifties to mid sixties. Let’s see the prices if we bump that up to 70 years.

70 year old male, $10,000 Whole Life Guaranteed Issue Plan

We’re looking between Gerber Life and American General upper 80s to 90s. If we look at eighty year old males, $10,000 in coverage, we’re looking at $175 to $250.

80 year old male, $10,000 Whole Life Guaranteed Issue Plan

The point I’m making here is that the main companies that I recommend as a broker are who offer the best prices are American General and Gerber Life. Besides these companies, there are plenty of other ones that offer a two year waiting period product or guaranteed issue type of product.

I shy away from those because the price point is just ridiculous. Why pay more for the same thing you can get elsewhere, especially if it’s a good quality company? That’s how I think this is how I live my life and that’s how I do my business.

My focus is on somebody who would qualify for a guaranteed issue plan such as someone with Lou Gehrig’s disease. I’d be looking at one of these two companies as being the best bet. 

If you’d like to find out more about what type of policy might be right for you, give us a call at (888) 626-0439. Alternatively you can send us a message and we will get in touch with more information.

You will be under no obligation to buy and a quote takes 10 minutes or less. 

Case study examples

30 Year Term Insurance with Lou Gehrig’s Disease

A middle aged gentleman got in touch with us looking for a 30 year term insurance policy after being diagnosed with Lou Gehrig’s Disease. He was concerned about having recently taken on a 30 year mortgage and wanted to make sure his wife and children would be able to continue to live in their home should he pass away. 

In addition to having Lou Gehrig’s Disease, this gentleman suffered from high blood pressure. He was taking medication to keep from having any further complications but was concerned about his ability to qualify for any kind of quality coverage.

We looked at a number of providers that work with clients who have the same health concerns as this client and were able to secure first day coverage for this gentleman. He was thrilled with the result and thanked us for our help.

Though we can’t promise the same outcome for every individual with the same concerns, we certainly do our best to secure quality, affordable coverage for all of our clients.

Final Expense Coverage with Lou Gehrig’s Disease

Ms. Fields who was 45 years old contacted us recently looking for final expense coverage. She wanted to ensure her husband and kids would not have to pay for her service and cremation and wanted to get just enough coverage in place to pay for any expense they may encounter upon her death.

She had been diagnosed with Lou Gehrig’s Disease and was concerned this would cause her application to be declined, but we assured her we would do our best to find some kind of coverage to meet her goals.

In the end we were able to approve Ms. Fields for first day final expense coverage at a price that met her budgetary needs. This gave her peace of mind in knowing her family wouldn’t have to worry about paying out of pocket for her cremation and service.

Every application is unique, so we can’t guarantee coverage for every individual. What we can promise is that we will do our best to secure some kind of coverage for you, hopefully at a premium rate, so that you can have peace of mind in knowing your concerns are taken care of.

Stories from the field

I’ve had many memorable experiences over the many years I have been in the life insurance business. This is one such experience that I like to share with clients to show what Buy Life Insurance for Burial can do for clients, even if they have significant health problems. 

Way back in 2013 I was working in Lookout Mountain, Alabama. This rural community was located in a fairly remote area with lot sof gravel and dirt roads and small houses.

As I approached my last stop of the day, I traveled down a long gravel driveway only to be met by a large 4 x 6-foot sign that said the following: Any damage done to your person or your property is not the fault of this property owner. It was signed “The Nights”.

Now typically when I see threats like this, I turn around and leave. It’s not worth it to me to infringe on someone’s privacy, even if they did request life insurance information.

But for some reason on this particular day I decided to go ahead and visit with this client. It was Mrs. Night who had requested the information, but as I got out of my car and approached the house, I saw a man I assumed was Mr. Night glaring at me from the front porch.

Deciding to take a friendly approach, I called out to him, asking if he was Mr. Night. He was quick to ask what my business was.

“I’m sorry for intruding like this,” I said. “But I received a request from Mrs. Night for life insurance information. I would have called but there wasn’t a phone number on the request.”

Mr. Night sat a moment longer, then peaked his head inside the house and called for his wife. He promptly appeared and Mr. Night excused himself, wondering off toward the garage. 

Mrs. Night was much mroe amiable, inviting me inside and thanking me for stopping by. When I asked her about the request she explained she had been married before.

Her previous husband had died suddenly, but thankfully he had life insurance and it had helped her tremendously in taking care of the cost of his funeral and burial.

She knew that her current husband didn’t have insurance and she wanted to get something in place so that should he pass away unexpectedly, she would have a way to pay his final expenses.

Her biggest concern was their limited budget. She only had $25 a month that she could devote toward payments. She was also worried because her husband had some heart problems and had undergone open heart surgery three years before.

I assured her that my company would approve her husband for first day full coverage despite his unique circumstances. All that was left to do was get Mr. Night’s signature.

I thought this would be a fairly straightforward thing to do, but boy was I wrong. We went ou to the garage to speak with Mr. Night and found him tinkering under the hood of a truck. 

When Mrs. Night explained that she had decided to get life insurance and that I had been so kind as to offer him first day coverage, Mr. Night began to shout at me.

“I’m not signing no damn insurance papers. This man trespassed on my property. What does he think he’s doing here anyway?”

As his voice escalated, needless to say, I was scared. I quietly let him scream while his wife tried to calm him down. At one point he screamed, “You’re lucky your not buried dead in my backyard the way you showed up.”

Mrs. Night scolded him and reminded him of his heart condition, advising that calm down. He finally listened to her and did calm down. In fact, he actually heeded her request and signed the insurance papers. 

As soon as the papers were taken care of, I quickly said goodbye and got out of there, thankful things hadn’t exscalated more than they did.

It wasn’t but three years later that I got a death claim for Mr. Night. We were able to approve the claim and get money to his wife for the funeral expenseses, which she was incredibly greatful for.

Besides this being a funny anecdote about my potential demise, there is a reason why I am telling you this story. There’s a great lesson to be learned here. Had Mrs. Night not had the foresight to get life insurance on her husband, she would have no doubt gone into terrible debt to cover his final expenses.

Had she worked with any other company, her husband may have been declined or been required to wait for a long period before his coverage would have gone into affect. This would have left Mrs. Night in a terrible situation without any savings to pay for her husbands funeral or burial.

So the moral of the story is don’t shoot your insurance agent if they show up at your house! Let us help you out! In fact, we don’t even have to show up at your door. We can simply ask you some health questions over the phone to see what your coverage options might be.

How to apply

As we wrap things up, let me talk to you about what the next step would be to qualify for. I will address something that’s important to understand.

I don’t like the idea of selling a two year waiting period policy to my clients, but unfortunately, when you need life insurance – hopefully at this point you’re on the video listening to this – you need the coverage and sometimes you can’t get what you want.

But in many circumstances people live longer than expected with these types of plans. They do return your premiums, that means if you died within the first few years, you would get your money back plus a little bit of interest, which is usually around 10 percent depending on the product.

There’s no way that you can lose your premiums. They will be refunded if that occurred prior to the two year period of time. Frankly, it’s better than nothing. It’s best to just get that two year period started as quickly as possible that you can be fully covered.

Applying for these programs is super-simple. Hopefully you pick an agent like me to work with you and you can see what I can do to help you out.

Second, if you and I discuss matters and we decide upon a plan, I’ll draw you up a quote using kind of the same process I showed you. The great thing about both companies that I showed is they all have electronic application, we email them to you. It’s all done by email. I don’t need to be face to face with you.

Within a couple of days you will get approved and you will get your policy sent in the mail. Pretty simple process.

Final steps

Owner of BuyLifeInsuranceForBurial.com David Duford

Thanks for reading, and I hope you’ve gained truly valuable information on your search for life or burial insurance. If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for your free life insurance quote!

If you like what you read or watched today and it intrigues you, the next step would be to 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.

If you like this video, share it with people who have Lou Gehrig’s disease, leave a comment and give a thumbs up and subscribe if you haven’t already.

Thanks for stopping by and reading this article. If  you’d like to receive a free, customized quote, be sure to give us a call at (888) 626-0439 or send us a message.

Take care!

About BuyLifeInsuranceForBurial.com
About BuyLifeInsuranceForBurial.com

We work with individuals across the nation to secure the best life insurance rates.

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