There are literally a few thousand life insurance companies in America that specialize in insurance for people that either have disabilities, health problems or our seniors. Most of these companies have policies that are suitable for people that fall within all three of these categories. Obtaining life insurance if you are a person with disabilities is a matter of using one of these companies. You will better be able to get a policy that is both economical and that also provides a first day full death benefit without a waiting period, if you are able to compare multiple companies and their guidelines through an online comparison site.
Although there are some standards that are set by individual states, the majority of the underwriting standards of life insurance companies are self regulated. One insurer may choose to offer better benefits for someone that has type II diabetes than another. The same applies to a wide range of health conditions and disabilities.
It is difficult however, to know which company will be able to offer you the best benefits and the most coverage for the least amount of money unless you use a website that has a database of information regarding the underwriting requirements and standards of multiple companies. You will find that this is the easiest way to obtain the information that you need to make a well-informed decision, without actually having to apply for life insurance.
One key point to remember is that life insurance companies have access to what is called an MIB report. MIB is an abbreviation for Medical Information Bureau. This reporting agency exclusively provides information to insurers to help prevent them from taking on a high-risk applicant. What this means for you is that information regarding any prescription medications that you have been prescribed over the last 2 to 5 years is accessible by the insurance company. In many cases, severe medical conditions are also reported to the MIB. So, make sure you answer all health questions honestly however, do not elaborate unless you are specifically asked about a particular health condition. Don’t volunteer information unless you are questioned about it.
This is one of the great things about being able to compare life insurance companies and their requirements by using an online source that will reveal this information to you without you having to actually apply for life insurance.