Are you backed into a corner and are looking to buy life insurance because you got a bad doctor’s report? Are you concerned that you are hitting retirement and will all of a sudden have no benefits?
We work with clients everyday and often times people are looking to buy life insurance as a reaction to something. While it is important to react to whatever life hands you, it is always better to build a plan before the emergency. If you start to have your agent look for you at an advanced age or once you have medical limitations, you will probably be discouraged with the options. This is why it is important to have a good agent who knows the options on the market as well as which company’s underwrite more favorably for different situations.
With that being said, it is better to button down your life insurance needs before an event forces you into it. The options are usually better and it is usually a lot easier to secure what you want. For example, I recently worked with a client who just developed type 2 diabetes and is now wants to get life insurance. We had talked several times before when she didn’t have this condition and I encourages her to put something in place. Unfortunately, she put it off and know is facing much higher premiums and fewer options. The good news is we work with just about every insurance company out there and were able to take her case to the company’s that underwrite diabetes the most favorably. In fact, we are helping her secure a guaranteed universal life that the premium is guaranteed to age 121.