pre-existing medical condition Archives

When purchasing a health insurance Woodhaven MI policy, consumers are often asked about their pre-existing conditions. While there are health insurance policies that are not designed to cover difficult medical conditions, your options of financing will have an impact on whether your circumstance will be covered in the future. Now that ObamaCare has changed the country’s medical laws, there is a greater chance for anyone to be insured even when having a pre-existing condition.

How Having a Pre-existing Condition Affects a Policy

A pre-existing condition is any medical circumstance when you have received medication or treatment before the beginning of your health insurance policy. If you choose a full health insurance Woodhaven MI coverage policy, you may have to ask your insurer if you need any exclusion to be covered. Some insurance companies offer a rolling suspension to one’s policy once they undergo a treatment for two years after the beginning of the policy. But some health insurance companies offer fixed moratorium mandates, which states that pre-existing conditions are covered by the insurance policy for two years.

For those with chronic conditions, a full medical underwriting for exclusions may apply. A chronic condition is a circumstance that needs ongoing monitoring and has no known cure. The illness is more likely to recur in the future, which includes asthma and diabetes. If you have this health condition, you may have a harder time to find an insurer, as they consider it as a risk.

The good thing is, the new health mandates require all insurance companies to comply to their every customer’s needs, and even those with chronic conditions can have a health insurance Woodhaven MI policy just as a normal person can acquire.

If you are healthy, it is best to purchase your health insurance now. Your health insurance is an investment and there are many benefits that go along with it: http://www.megaeveningevent.com/blog/frost-remer-shares-3-benefits-of-acquiring-woodhaven-health-insurance/. Purchasing health insurance is easy, and its rates remain customized according to your health. Avoid paying for a more expensive rate; make sure you don’t do any of these factors which contributes to the increase of rates in insurance policies:

https://insurancebyfrost.com/3-reasons-auto-owners-insurance-gibraltar-mi-policy-rate-increases/.

There’s no one-size-fits-all solution for Woodhaven life insurance coverage. Many factors can affect how much and what type of coverage best suits your needs. It’s no wonder deciding on the right policy for yourself and your family can feel like a challenge.

Still, the right life insurance is worth the time you invest in the decision as well as the policy’s cost. Life insurance gives you the opportunity to plan now financially for the comfort and well-being of your family should you die unexpectedly.

Your Woodhaven Life Insurance Options

Various insurance categories, term lengths, and coverage levels are all choices to be weighed according to your individual circumstances. You’ll find there are two primary categories of life insurance:

Term life insurance and
Permanent life insurance.

Before you set off hunting for the right plan for your Woodhaven life insurance coverage, there are a few questions you need to ask yourself. Frost & Remer offers this practical guide to help you determine the right policy to fit your needs and budget. Answer these questions:

How far can I go with my budget? What is my financial ceiling for an affordable premium?

The answer to these questions will help you determine the most you are willing to pay for your insurance. This can help narrow down your choices. Permanent life insurance costs more because the coverage is more comprehensive. On the other hand, term coverage protects you during vulnerable periods of your life when you need it most and costs significantly less.

What expenses do I need to cover?

Life insurance is typically used to cover immediate costs, such as the cost of funeral expenses and debts or liens. But life insurance can also help you protect the financial stability of your spouse and children in the event of your death, help your children further their education, support a spouse after your death, help you and your family negotiate serious health expenses before or after your death, and even compliment your plan for retirement.

How healthy am I? Do I have any serious medical problems?

It’s true that you could choose a guaranteed issue policy with no medical exam, but these policies generally won’t offer much coverage beyond minimal burial expenses. If you’re interested in protecting your family financially, replacing your income, or taking care of accelerated death benefits or investment opportunities, you’ll need to pass a full medical exam to get coverage.

Should I get permanent insurance now or can I afford to wait?

Locking in premiums now could save you. If it fits your goals and you can afford it, a permanent policy now will be much cheaper than when you are older. These plans let you lock in a rate when you buy that saves you money over the whole life of the policy.

Am I at a point where I need coverage now?

However, it’s important to remember that not everyone needs coverage and that you may only need life insurance during certain points in your life. And these points can come and go. If your family would be able to care for themselves financially, your children are grown and living independently, and your assets won’t create an estate tax burden for your family, you may not need coverage.

Next Steps

Knowing the answer to these questions will certainly help you realize whether you need coverage and what types of coverage may be best suited for you. With this information in hand, it’s time to talk to an insurance professional about your Woodhaven life insurance needs. Frost & Remer can help you find the right plan to suit your means and budget. Schedule a consultation and get a quote here.

Buying Health Insurance Woodhaven MI with a Pre-Existing Condition

Woodhaven Life Insurance: Self-Check

Your Woodhaven Life Insurance Options