- 1). Find guaranteed issue policies. Guaranteed issue life insurance comes in two types. One type of policy offers a graded benefit. It may be a refund of premium with interest if you die in the first two years, but in the third year and thereafter you get the full face amount of life insurance, or increasing the amount of the death benefit each year until you reach the full amount. These policies are often quite expensive, but well worth it if you can't get any other coverage. The other type of guaranteed issue policy is normally for older people. It often offers a specified death benefit with a level premium. However, the death benefit decreases every year.
- 2). Accept a rating. Insurance companies charge more for policies and call it a rating if you have a pre-existing condition. However, they won't give you a policy if the condition is serious. Often, after several years and proven recovery, even cancer victims can get slightly rated or standard premium policies.
- 3). Request consideration for a reduction in the rating after you've had the policy for several years. The longer you live with a condition, the more inclined the insurance company is to lower the rating if you've successfully treated it. Diabetes, however, is one condition that affects so many different areas of the body that it seldom receives a reduction in rating if you can get insurance at all.
- 4). Purchase credit life insurance on all your loans. Many credit life companies don't ask health questions. The coverage is expensive and often quite small, depending on the size of the loan, but at least it is coverage.
- 5). Sign up for the insurance through your place of employment. Often there's a small amount of life insurance an employer provides and supplemental insurance to a specified multiple of your salary, which doesn't require you to qualify with health questions if you work for a large corporation and sign up at enrollment time. Larger amounts of insurance or applying at a non-enrollment time, however, often require that you answer health questions. If you have this coverage and leave the company, it's normally convertible to a permanent plan with no health questions.
- 6). Open small accounts at credit unions. Some credit unions offer as much as $1,000 worth of life insurance if you maintain a balance of $1,000.
- 7). See if any organizations you belong to offer life insurance for their members. Some national organizations offer group policies that don't require you to answer health questions if you purchase very small amounts. Larger amounts require you to answer the questions.
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