When life insurance companies create commercials and advertisements, they like to promote rates for clients that are in excellent condition in their 30’s and 40’s. They’ll usually quote a 10 year term policy mainly because these rates are really good at getting people’s attention.
Ever heard the commercial?
“John, a 42 year old man in good health can get a $500,000 term policy from a highly rated insurance company for less than $25.00 a month”
Which is true, but what if you’re not in great shape? What if you have some preexisting conditions? What if you are currently taking some prescription medications? What do you do then? This is when getting life insurance goes from “processing an order” to “needing an expert”.
The good news is that the life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. These niches may shift but generally insurance carriers do become known within the industry to focus on certain market populations. For this reason, it’s key for you as a consumer to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different carriers out there. Only by doing this can you insure that you are getting the best policy for you and your family.
For example, let’s look at folks that are currently shopping for life insurance while taking Provigil (modafinil). Provigil is used to treat excessive sleepiness caused by sleep apnea, narcolepsy or shift work sleep disorder. Provigil promotes wakefulness by altering the natural chemicals in the brain that control sleep cycles.
Now to determine which insurance carrier will provide the best option for clients who are applying for life insurance while taking Provigil. It is important to understand the medical condition that is being treated. For this reason, your agent should be familiar with both conditions so that he or she will have a better idea about which carrier would be the best fit.
For that reason, let’s take a quick look at narcolepsy and sleep apnea. Narcolepsy, is a chronic neurological disorder caused by the brain’s inability to regulate sleep-wake cycles normally. Narcoleptic patients will typically have altered REM cycles and will often experience cataplexy, a sudden muscular weakness brought on by strong emotions. Narcolepsy is not caused by mental illness or psychological issues, it is believed to be caused by a number of genetic mutations and abnormalities that affect specific biological factors in the brain, combined by environmental triggers during the brain’s development.
Sleep apnea on the other hand is a common disorder in which one will have one or more pauses in breathing or shallow breaths while sleeping. These pauses can last from a few seconds all the way up to a few minutes. Typically, normal breathing will resume, sometimes with a loud snort or choking sound. As a result, sleep quality is poor leading to excessive daytime sleepiness.
Now as once can see, Provigil is prescribed for a wide range of conditions and symptoms, which is why, a careful examination of each individual’s health history is needed to be made before simply submitting ones applications, because not all carriers will look at taking Provigil the same.
If Provigil is used to treat attention deficit hyperactivity disorder ADHD, most carriers will not consider it a risk, however is used to treat for narcolepsy certain carriers may view this applicant differently.
Totally confused?…. Don’t be, this is where TermLife2Go steps in, as an independent agency our agents are committed only to you and your family. Our sole purpose here is to help guide you through the process of:
- First, choosing the right type of policy, whether it be Term, Whole Life, and Universal Life etc..
- Second, determining the appropriate coverage amount.
- And lastly, determining which carrier will most likely give you the best rate available.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
We’ve nearly bored you to death, are you ready to take a look at some actual quotes that you may be able to qualify for? If so, we would strongly encourage you to take a look at our Term Life Insurance Quotes page where you’ll have access to quotes instantly from dozens of different life insurance companies.
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.