Your Options If A Life Insurance Application Is Declined

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Exploring Your Alternatives

It can be disheartening when you’re denied traditional life insurance, but you still have viable options to secure financial protection for your loved ones. Here are some alternatives to consider:

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is a type of policy that does not require a medical exam or answers to health questions. While it provides coverage without the need for a detailed health assessment, it comes with higher premiums due to the increased risk for insurers. Additionally, there may be limited benefits initially, meaning if death occurs within the first few years, the payout might be restricted.

Simplified Issue Life Insurance

Simplified-issue life insurance requires you to answer a few health-related questions but does not mandate a medical exam. This option offers a quicker approval process and typically has lower premiums compared to guaranteed-issue policies. It strikes a balance between accessibility and affordability, making it a popular choice for those who have been denied traditional coverage.

Annuities with Enhanced Death Benefits

Annuities with enhanced death benefits are another excellent option. These products offer a death benefit bonus of 30% of your investment. For example, if you invest $100,000, your beneficiaries could receive $130,000 upon your death. This approach combines investment growth with financial security for your family.

Comparing Your Options

FeatureGuaranteed Issue Life InsuranceSimplified Issue Life InsuranceAnnuities with Enhanced Death Benefits
Medical Exam RequiredNoNoNo
Health QuestionsNoYesNo
FocusImmediate Life CoverageFaster ApprovalInvestment & Death Benefit
Example of Death Benefit BonusNot ApplicableNot Applicable30% of Investment
PremiumsHigherModerateBased on Investment
Denied Life Insurance

The Importance of an Independent Life Insurance Agent

Navigating the complex world of life insurance is much easier with the help of an independent life insurance agent. These professionals can provide expert guidance, increasing your chances of obtaining coverage. Independent agents can compare policies from various insurers to find the best fit for your needs, ensuring you avoid unnecessary delays and potential waiting periods, which could be as long as two years if you apply on your own.

Declined For Life Insurance

How We Can Help

At The Annuity Expert, we understand the frustration and worry that comes with being denied life insurance. For 15 years, we’ve been guiding clients as an insurance agency, annuity broker, and retirement planner, ensuring they find the best solutions at the lowest costs. We believe in providing personalized service tailored to your unique needs and preferences, making you feel valued and special.

The core problem we address is the challenge of securing life insurance coverage when traditional policies are out of reach. This issue can manifest in feelings of vulnerability and concern for your family’s financial future. We empathize with these emotions and offer solutions that provide peace of mind and financial security.

Our Solutions

  1. Guaranteed Issue Life Insurance: Offers immediate coverage without health questions or medical exams, suitable for those with serious health concerns.
  2. Simplified Issue Life Insurance: Provides a balance of accessibility and affordability with a quicker approval process.
  3. Annuities with Enhanced Death Benefits: Combines investment opportunities with a death benefit to ensure your family is financially protected.
Declined Life Insurance

What We Recommend

Step 1: Contact Us for a Consultation

Reach out to us for a free consultation with a licensed financial professional. During this initial step, we will discuss your specific needs and preferences, ensuring a personalized approach to finding the right policy. The main benefit is gaining clarity on your options and understanding which products best fit your situation.

Step 2: Policy Comparison and Selection

Based on our discussion, we will compare various policies from multiple insurers. We will present you with the best options, explaining the benefits and drawbacks of each. This step ensures you make an informed decision, ultimately choosing a policy that offers the best coverage and value.

Step 3: Application and Approval

We will assist you through the application process, helping to ensure all necessary documentation is accurately completed and submitted. Our expertise increases your chances of approval and reduces waiting times. The main benefit is obtaining the desired coverage swiftly and efficiently, securing financial protection for your loved ones.

Features and Benefits

  1. Personalized Service: Tailored recommendations based on your unique needs, ensuring the best fit.
  2. Expert Guidance: Leveraging our 15 years of experience to navigate complex insurance options.
  3. Comprehensive Comparisons: Presenting multiple policies to ensure the best coverage and value.
  4. Efficient Application Process: Streamlining the application increases approval chances and reduces delays.

Addressing Common Objections

  • High Premiums: We work to find policies that balance cost and coverage, ensuring affordability.
  • Complex Process: Our expert guidance simplifies the application and approval process.
  • Limited Options: We offer a variety of products to suit different health and financial situations.

Failing to secure life insurance can leave your family vulnerable, but working with us ensures they are protected. You will experience peace of mind, knowing you have taken steps to safeguard their financial future.

Contact Us

For free advice or a quote, contact The Annuity Expert today. Let us help you find the right life insurance solution tailored to your needs.

Personalized Life Insurance Advice

Get help from a licensed financial professional. This service is free of charge.

Contact Us

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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