It may seem odd even needing to discuss whether or not someone will be able to qualify for life insurance if they’re blind, but the truth is, blind life insurance applicants can encounter several obstacles which could make the process of qualifying for a ordinary term or whole life insurance policy more difficult than it needs to be. This is why we here at TermLife2Go have chosen to write this article.
Let’s just state for the record that blind individuals should be eligible for both fully underwritten and/or simplified issue term and whole life insurance policies. Where these folks may run into trouble during the underwriting process will be at the same points where any “non-visually” impaired applicant would as well! So rather than settle straight away for final expense or burial insurance, take a moment and find out what the underwriters are going to look at to determine if you can get ordinary whole or term life insurance while blind.
Qualifying for life insurance if blind.
In order to qualify for a traditional life insurance policy, you’re going to need to meet a series of requirements that are going to look at your overall health, your lifestyle choices, and minimal financial requirements indicating how much insurance you can qualify for. How this will apply to those who are blind? Let’s take a look.
Questions used to determine one’s overall health.
During the initial life insurance application process insurance companies are going to ask a series of health-related questions to determine what the health of the applicant is, along with trying to get an idea about the family history health as well.
Typical questions will look something like this:
- How old are you?
- What is your current height and weight?
- Have you ever been diagnosed with any pre-existing medical conditions?
- Have you ever been diagnosed with cancer, heart disease, stroke or diabetes?
- Has any of your immediate family members ever been diagnosed with cancer, heart disease, stroke or diabetes?
- And are you currently taking any prescription medications?
Additional questions that will center around your blindness will include:
- What has caused your blindness?
- How long have you been considered legally blind?
- Did you become blind due to an accident? If so, insurance companies will want to postpone any application for at least 6 months from the date of the accident.
- Is there any chance that your vision may improve?
Causes of blindness that will certainly worry an insurance underwriter will include:
- Uncontrolled diabetes.
- Uncontrolled hypertension.
- Stroke victims.
- Cranial hemorrhaging.
- Head injury victims.
- Etc, etc..
Questions used to identify risky lifestyle choices.
Insurance companies are not only going to be interested in the actual health of an applicant, they’re also going to be interested in potentially “hazardous” lifestyle choices that an applicant may be participating in which could make them a higher risks to insure.
Questions used to identify “risky” lifestyle choices will include:
- In the past 12 month’s have you used any tobacco or nicotine products?
- In the past 12 month’s have you used any marijuana products?
- Do you have any issues with your driving record such as a suspended driver’s license, multiple moving violations, or any DUI’s.
- In the past 2 year’s have you participated in, or do you plan on participating in any dangerous activities such as hang gliding, bungee jumping or sky diving?
- Do you have any set plans to travel outside of the United States in the next two years? With this question, insurance companies are trying to determine where or not you plan on visiting any dangerous locations such as North Korea, Iran, Haiti, ect…
- Lastly, have you ever been convicted of a felony or misdemeanor.
From here, we’ll want to take a look at “how much” life insurance the applicant may or may not be eligible for.
Multiples of Earned Income Requirements.
One application requirement that doesn’t often get a ton of attention is the “Multiples of Earned Income” requirement. This requirement states that one will need to qualify “financially” for the amount of life insurance coverage that they’re wishing to apply for.
Where this can become an issue…
Is when an insurance applicant isn’t earning a lot of money, but still wants/and can afford a lot of insurance! For example those who are currently receiving disability benefits for a pre-existing medical condition.
These folks will often only be earning around $9,000-12,000 dollars annually which means that in a “best” case scenario, they’ll be able to qualify for $300,000 or 25 times their annual income (those below the age of 40) and worst case scenario only $60,000 or 5 times their annual income (those over the age of 66). As you can see, the multiples of earned income will decline as one ages, which will make it more difficult for older applicants to qualify for larger life insurance policies.
Now we’ll be the first…
To admit that we’ve tried to cover a lot of information here in a very short article, AND we’ve certainly glossed over a lot of very important aspects of the typical life insurance application process. But we’ve done this so that you can get a general idea of what it will be like to apply for life insurance with a pre-existing condition like blindness.
And it is our hope…
That before you make any decisions about what may or may not be the best policy for you, you’ll at least give us a call and allow us the opportunity to earn your business.
We here at TermLife2Go work very hard to meet each and every one of our clients goals which is why when you speak with us, you’ll learn early on that we’re not like the typical “call center” agency and that with dozens of life insurance carriers, including the best final expense and burial insurance companies, to choose from, we’ll generally have several options that will meet your needs!
So, what are you waiting for? Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!
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