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In This Article, I’m Going To Specifically Discuss How To Get Life Insurance If You Have Spinal Bifida
Have you or a loved one been diagnosed with Spinal Bifida? Are you are concerned about the options available for qualifying for life insurance?
If so, you’re in the right place. The purpose of this article is to help answer those questions.
NOTE: Would you prefer me to present this information to you in video format? Watch the video below for the complete presentation on How To Get Life Insurance With Spina Bifida Diagnosis. Enjoy!
Today’s Topic Overview:
- Why Somebody Would Consider Buying Life Insurance With A Spinal Bifida Diagnosis
- Case Study Examples
- Options For Life Insurance For Spinal Bifida Patients At Various Severity Levels
- Stories From The Field
- Term Life Insurance, Permanent Insurance Or Any Other Kind Of Final Expense Life Insurance
- The 5 Top Reasons Why People Buy Guaranteed Issue Life Insurance
- Next Steps
Why buy life insurance with a spinal bifida diagnosis?
For Final Expenses
This is one of the biggest reasons why people buy life insurance with a Spinal Bifida diagnosis.
They don’t want to leave a final expense such as burial or cremation costs to their loved ones.
If they were to die suddenly, they want loved ones to have the funds on hand to pay for the high cost of burial.
The National Funeral Directors Association states that the average funeral expense is approximately $8,700 as of 2017. The average cremation is in the low $6,000’s. This is a substantial amount of money and must be accommodated somehow.
If the Spinal Bifida patient doesn’t have the available funds on hand to pay, a life insurance plan is very appropriate here. Plus, it has the added advantage of being much more flexible in underwriting.
As Income Replacement
Are you looking for a way to replace the income that the Spinal Bifida patient makes?
Say that the individual was to die earlier than expected and leave the surviving spouse by themselves.
Couples who live together usually have two incomes to support each other. Once one of those incomes disappears, it can have an adverse effect on the lifestyle of the widower.
Sometimes people buy life insurance because they have some sort of outstanding debt.
A mortgage, business loan, or owing someone money (such as credit cards or a car loan) needs to be covered before they pass away.
The same options are available for people with Spinal Bifida. If you owe money and you’re concerned about who will pay it after you die, then consider buying life insurance to cover those final expense debts.
For a free quote, give us a call at (888) 626-0439. It takes 10 minutes or less and you are under no obligation to buy from us. You can also submit a message to the left-hand side of the screen and we will reach out to you within the next 24 business hours.
Case study examples
Rate Increase and Declined Application
A young woman got in touch with me last month to say she had paid on her life insurance for a number of years when all of the sudden she received a notice in the mail saying she was going to be getting a rate increase.
She knew she couldn’t afford the new rate and so she had gone to her local life insurance company only to be declined due to her Spina Bifida diagnosis. She came to Buy Life Insurance for Burial in the hopes that she could get some sort of term life insurance on the books.
We were able to shop a number of providers to find a life insurance plan that was right for this young woman. They approved her application and she had first day full coverage at an affordable rate.
While this scenario may not play out the same for everyone, we do our best to get coverage on the books for every client that gets in touch.
Smoker Looking for Final Expense Coverage
A young man named Mr. Goads got in touch with us at Buy Life Insurance for Burial to inquire about final expense coverage. He was 30 years old and had suffered from the affects of Spina Bifida all his life.
He was concerned about getting life insurance because of the rising costs of burial. After doing some research he discovered the cost of a funeral and burial had gone up as much as $2,000 over the past 20 years and the total cost was more than he had in savings.
He didn’t want his family to be responsible for the cost, so he came to us looking to see what we could provide.
Mr. Goads was a smoker, which complicated the process a bit, but by no means made it impossible. We were able to find him quality, first day coverage at a price point he could afford. He was amazed at the amount of coverage he was able to get for the price and was happy to finally have final expense coverage in place.
Options for life insurance for spinal bifida patients at various severity levels
The purpose of this section is to give you a sober and honest assessment as to what you may qualify for if you have Spinal Bifida.
We will align your expectations with reality. We will break down the levels of severity of Spinal Bifida, then relate them to the options you have to qualify for life insurance.
Many insurance agents promise the world and never deliver. Here at BuyLifeInsuranceForBurial.com, I’d rather shoot you straight. I like to show you what your options are so that you can know exactly what you’re getting into ahead of time.
Mild To Moderate Spinal Bifida
If you have mild to moderate Spinal Bifida, you are not stuck in a wheelchair, incapable of helping yourself. You may experience no symptoms or you may experience minor symptoms. It doesn’t prevent you from working, drawing an income, or doing your day to day activities.
Stories from the field
This true story was a little scary for me to experience, but in retrospect demonstrates why life insurance is so important.
A number of years ago I was working in Lookout Mountain, Alabama, visiting people who requested life insurance information. As I came to my last stop of the day, I pulled my car into a long gravel driveway and couldn’t help but notice a sign.
It said the following:
“Any damage done to your person or your property is not the fault of this property owner. Signed, The Nights.”
Usually when I see threats of this magnitude I don’t hang around, but since this was my last appointment of the day, I decided to take a chance.
As I got out of my car I realized there was a man sitting on the front porch who had been watching me the whole time. It was clear to me that this was Mr. Night, the man who had written the sign. Looking to start off on a light note, I said hello and asked if he was Mr. Night.
“Depends on who’s asking,” the man replied.
“You’re the man I’m looking for,” I said with assurance. But, Mr. Night did not return my smile.
I quickly explained that I had received a card requesting life insurance information and that that was the reason for my visit. Mr. Night stood and poked his head inside his house to call for his wife, telling me he didn’t send me a card.
Mrs. Night quickly appeared and gave me a welcoming smile while her husband wandered quickly off to the garage.
While talking to Mrs. Night, I found out her previous husband had thankfully had life insurance. So, when he died she had enough funds to take care of his funeral costs and burial.
She had recently learned that her second husband, Mr. Night, did not have insurance and she was concerned about what would happen if he passed away unexpectedly. They did not have any savings in place and she knew from experience how expensive a funeral could be.
The problem she had was that her husband had had open heart surgery three years before and the only programs that would qualify him offered a 2-year waiting period.
I assured her that my company would approve her husband for first day full coverage despite his unique circumstances and that she shouldn’t have to worry about not having coverage in place.
Mrs. Night’s last question was about the cost. She was on a limited budget and could only pay $20 a month for coverage. I told her this wouldn’t be a problem, as long as we could get her husband to sign the necessary papers to get coverage.
She was thrilled with this news, but hesitant to ask her husband to fill out the application.
His reaction was predictable. He shouted at me and I quickly decided it was time to go. But, Mrs. Night spoke softly to her husband and managed to calm him down before things escalated.
She explained her concern and he seemed to agree it would be a good idea to fill out the application.
I was shocked.
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. It’s a great lesson in the importance of life insurance, no matter how small the policy might be.
Three years later I got word that Mr. Night had passed away. I was happy to know his wife would have the financial help she needed to pay for his final expenses.
Had Mrs. Night contacted any other company her husband may have been declined or had to wait a long time for coverage. But we were able to get him something important – first day coverage.
This made a huge difference in his wife’s life.
She didn’t have to worry about funeral expenses or go back in debt. She didn’t have to suffer any more than she already had.
She was able to eliminate that risk because of the kind of access to carriers that we work with.
If you have found what you have read so far to be compelling enough to seek out more information about what you might qualify for, please get in touch by calling (888) 626-0439 or sending us a message.
Term Life Insurance, Permanent Insurance or any other kind of Final Expense 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
If the above is the case, then you should qualify for most standard life insurance options.
Most likely you will experience what’s called a ‘rated case’. The life insurance business defines this as somebody who has an extra amount of price point added. This is due to their existing preconditions such as Spinal Bifida.
Also, you probably won’t be able to qualify for what’s known as a ‘non-medical examination’ policy.
These are policies that don’t require an exam. No blood is withdrawn. No urinalysis tests are done.
They’re designed to simply submit the application and figure out if you’re going to qualify or not.
When you deal with people with preconditions, there’s a problem. Sometimes the simplified issue, non-medical policies won’t cover people who are healthy but just won’t fit.
It’s a black and white decision on a particular ailment.
If you have Spinal Bifida that’s mild to moderate and you’re applying for life insurance, make sure that you take the exam that’s going to give you the best shot at the best price based on your current health.
Extreme Severe Spinal Bifida
Maybe you have severe Spinal Bifida that requires you to stay wheelchair or bed bound. You have the assistance of loved ones or nurses to help you do daily activities.
Simplified Issue Whole Life Insurance
Simplified issue whole life insurance is what we call ‘final expense’ life insurance. It’s designed to pay out small death claims (typically $25,000 or less) upon your passing. It’s used to pay for final expenses like burials, cremations and small debts.
The good news with these plans is that they’re designed for people who are in bad health. People that may not be able to qualify for otherwise more rigorous exams or underwriting.
If your Spinal Bifida is severe, you may want to consider a final expense plan. It’s easier to qualify for.
The drawback is that nobody can promise you that you’re going to qualify for it. Also, the price points per dollar of coverage tend to be a lot higher than term insurance or fully underwritten policies.
Rates For $10,000 In Burial Insurance
Rates For $25,000 In Burial Insurance
$150,000 Whole Life Insurance, Life Pay
$250,000 Whole Life Insurance, Life Pay
Guaranteed Acceptance Life Insurance
Maybe you’ve tried all the other options and nobody will take you. If you talk to one of us at BuyLifeInsuranceForBurial.com, we’ll do an assessment of your health.
If we determine there’s just no conceivable way to get coverage, then the only option left to you is guaranteed acceptance life insurance.
This kind of life insurance is similar to what you see on TV. You’ve probably seen Alex Trebek endorse Colonial Penn.
These are no questions asked life insurance plans. As long as you can sign your name, they’ll give you some kind of coverage.
However, it won’t be fully effective until 24 months after the first payment or the effective date. That means that if you die within the first two years of taking out the policy, only the money that you paid in is refunded back to your beneficiary.
The 5 top reasons why people buy guaranteed issue life insurance
If you have been declined before due to health problems that are chronic, guaranteed issue life insurance may be a good option.
Individuals who have tried to get life insurance through their local auto insurance representative or even through a life insurance specialist and were declined, find that guaranteed acceptance offers an option to get life insurance in place.
Guaranteed issue life insurance does not require an exam or lengthy application. This means that people previously declined may be eligible in many cases for coverage because no health questions are asked.
2.Final expense coverage
Burial or cremation is an expense everyone needs to consider.
Most people who want to get life insurance want just enough to cover their burial or cremation and there is nothing wrong with that.
Covering final expenses relieves your loved ones of the financial burden caused by burial and funeral home expenses.
3.No questions asked
Guaranteed coverage does not ask any health or age related questions to qualify applicants. Anyone who applies can be approved, which is great news for those who have experienced problems with applications in the past due to age or health concerns.
4.Can’t cancel due to age or health
Guarantee life insurance is designed to never cancel due to age or health. So no matter what age you are or what chronic health issues you may have, you will be able to keep your coverage.
5.Rates never go up
Keeping a life insurance policy in place for the long term is important.
The fact that guaranteed life insurance rates never go up certainly helps achieve this goal. You know what to expect as far as payments from day one and those rates will never increase.
$50 a Month – Guaranteed Universal Life Insurance
$100 a Month – Guaranteed Universal Life Insurance
$150 a Month – Guaranteed Universal Life Insurance
I will endorse this plan only when there are no other cards left in the deck. This is the last card, the trump card. It’s the last choice that we have and we pull it out after trying and exhausting every other option.
The only people that need to qualify for these kinds of plans are those that have pre-existing Spinal Bifida or other ailments that prevent them from doing activities of daily living.
If you have Spinal Bifida and you are ready to start the process of purchasing a life insurance policy, here’s what you need to do next…
Visit my website. You can go to buylifeinsuranceforburial.com and grab a free quote.
I do ask that you message me first. You can do that by clicking the contact box; the one at the top or the bottom, and send me a quick message.
Or just call me. The best way to reach me is (888) 626 0439, and speak with me live.
Thanks for reading this article, I hope you have found it useful! If you would like to get a no obligation quote to find out more about what you might qualify for, please get in touch by calling (888) 626-0439.
Alternatively you can send us your contact details and questions by way of our message board. An expert will reach out to you within 24 business hours to let you know what your options might be.
Thanks for stopping by!