Life Insurance For Seniors: What Terminal Diseases Are Accepted?

If you have been diagnosed with a terminal illness, your life insurance policy is an extremely valuable resource. This contract can help you pay the costs of care and treatment, pay for recuperation aids and it will help you replace the income lost due to a decreased ability to work and earn some money.

1335181510-Low-Cost-Term-Life-Insurance.jpgThis is why any person that buys elderly life insurance should insert a guaranteed insurability rider or any other form of terminal disease coverage. However, not all diseases are on the list and you must check first what terminal diseases are accepted by life insurance for seniors.

Usually, diseases related to age are likely to be accepted by elderly life insurance.  The most common, but fatal diseases related to age are Parkinson’s disease and Alzheimer’s Syndrome.

There are progresses made by modern medicine and we do hope we can find a cure, but until then, the fate is sealed for those suffering of these diseases. HIV/AIDS is also included on the list, since we do not fully understand its mechanism and how to effectively eradicate it.  Other diseases included on the list are: coronary problems, diabetes and some forms of cancer.

Cancer comes into multiple forms, starting from lung cancer to prostate cancer and so on. Not all forms of cancer are included in policies and not all companies provide support for cancer patients. Also, not all forms of cancer are terminal or incurable; some of them can be removed with some surgeries.

But it really depends on the carrier if it wants to provide coverage for those diseases. So, pay attention on the terms of the contract, especially for riders that provide terminal illness coverage. Also, there are some special paragraphs regarding future claims and conditions when claims must be made.

The insurer will pay limited benefits if the policyholder dies within the first 12 months of the policy.  For more details, contact an insurance agent.

We can offer you free life insurance quotes, thus helping you compare the prices.  Choose wisely. Visit our website!