Simplified issue life insurance is a great solution for those who don’t have time or the ability to go through a lengthy application process for coverage. It’s also ideal for those with certain health concerns, such as heart disease or diabetes. In this article, we’ll discuss why simplified issue life insurance makes sense for you and your loved ones.
Simplified issue life insurance is easy to apply for and underwrite
Simplified issue or SI insurance is easy to apply for and underwrite. This means that you can apply online without a medical exam or approval from an underwriter. You also don’t need to wait for approval or complete paperwork before your life insurance policy is in place. According to the professionals at Ethos, “As soon as your application is approved and processed, you’ll have the coverage you need at a price that fits your budget.”
It’s a great option for those with health concerns
If you have a health condition, it’s possible that you might be unable to get coverage elsewhere. In this case, a simplified issue of life insurance could help. Simplified issue life insurance is available to people with pre-existing conditions who are looking for a flexible way to get the protection they need and want. You can even add this coverage on top of existing coverage—so if you already have other types of life insurance in place, like guaranteed issue or group life insurance, it may make sense for you to purchase a smaller amount through simplified issue life as well.
You won’t need to go through a medical exam
One of the best things about simplified issue life insurance is that you won’t have to go through a medical exam. That’s right, no blood test, urine test or physical exam. There are some carrier restrictions for simplified issue products, and we will be happy to discuss those with you if needed. If a medical exam is required for your situation, then we can refer you to an independent third-party company that will perform the examination at their office or mobile unit location that is convenient for you.
You may have heard terms like “pre-existing conditions” when it comes to life insurance policies. These are ailments that already exist before purchasing coverage on them (such as heart disease). In most cases, these conditions require higher premiums in order to offset the increased risk involved with insuring them over someone without such pre-existing conditions. However, with Simplified Issue Life Insurance, there are no pre-existing condition exclusions, so all applicants qualify regardless of their health history.
Your premiums are guaranteed to stay the same once you’re approved
The premium on your policy is guaranteed to stay the same for the entire term of the policy. This means that it will not increase for any reason at any time during your coverage period. The premium is based on your age and the amount of coverage you choose, but it does not increase if you get sick or have a health condition.
Approval times are fast and easy
With simplified issue life insurance, you can get approved for a policy in a matter of minutes. No medical exam is required, and no need for a physical or a blood test.
Simplified issue life insurance is an excellent option for people who don’t have time to wait for a medical exam or more extensive underwriting. It’s also great for those who are self-employed, have pre-existing conditions or have other concerns that might complicate their application process.
