Understanding Life Insurance for Dialysis Patients
People on dialysis often face challenges when seeking traditional life insurance due to the high risk associated with their medical condition. However, there are alternatives available.
Alternatives to Traditional Life Insurance
- Guaranteed Issue Insurance Policy:
- Features: This policy does not require medical underwriting, making it accessible for dialysis patients.
- Death Benefit: The full death benefit is typically payable after the third year of the policy. In the first two years, if the insured passes away, beneficiaries may receive 10% of the premiums paid.
- Age-Based Options:
- Above Age 40: More options are available for guaranteed issue policies.
- Below Age 40: Options are limited, but certain carriers may offer policies.
Comparison of Life Insurance Options for Dialysis Patients
|Medical Underwriting Required
|Reduced Benefit in First 2 Years
|40 and Above
|Full Benefit after 3 Years
While traditional life insurance policies are often not viable for individuals on dialysis, guaranteed issue insurance policies provide a feasible alternative, especially for those above the age of 40. It’s essential to explore the available options and understand the terms of these policies. Contact us today for a free quote.
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