Life Insurance for People with ALS (Part One of Two) Many insurance companies, including well-known reputable firms, offer “Guaranteed Issue” Term Life Insurance. These policies are expedited, and are not scrutinized by the underwriter so much. They don’t require a medical exam, some don’t require a health questionnaire, and some don’t even ask general health questions over the phone.
Research companies to see which ones offer these conditions. The agent shouldn’t be so rude as to ask an unauthorized question. But if you are accidentally asked a general question about your health over the phone that you don’t want to answer, you can always say your dinner is burning and suddenly hang up the phone.
Research the companies and their policies by googling “Guaranteed Issue Term Life Insurance with No Medical Questions”. Some policies increase the premiums as you get older. Of course, always tell the truth. After death, the company has the right to ask to see your medical record if they suspect fraud. Since the company gets to know so little about you, they charge a higher premium for the risk they take.
Some people get Guaranteed Issue insurance because they discovered their old insurance is suddenly expired, and they need to be insured immediately without all the paperwork for a normal underwriting. In every case, however, expect the company to look for whatever info they can find on you from national pharmacy databases and the Medical Information Bureau. MIB is like a credit bureau; they sell information that other companies have gathered about you. And like a credit bureau, you may get a free copy of your file once a year.