Reasons Why I May Be Denied Life Insurance

Most people are blindsided when they learn they have been denied a life insurance policy. However, underwriters have guidelines they follow when determining whether to issue a policy. Wichalonis Insurance Agency, serving Cumming, GA, can help you find a life insurance policy to meet your needs.

Your Health Isn’t Good

Insurers view chronic health conditions as a risk. Obesity is an epidemic worldwide, often leading to other health problems, making it a prime reason for denial. Other hazards include high blood pressure, diabetes, high cholesterol, and a previous history of cancer. Chronic diseases, such as HIV, heart disease, asthma, Parkinson’s, or Alzheimer’s, can also lead to denial. If your urine test indicated blood or protein, you may have undiagnosed kidney disease. Age is also a factor, as many people develop problems as they age.

Your Lifestyle May Be a Reason

Many companies require a blood test along with a physical. Insurers will assess your blood for alcohol consumption. If it’s much higher than normal, they will deny a policy. Lifestyle can also include your occupation. These are deemed high risk:

  • Airline pilots
  • Loggers
  • Refuse and recyclable collectors
  • Roofers
  • Fishers and related workers
  • Structural steel and ironworkers
  • Truck Drivers
  • Farmers and ranchers
  • Construction workers
  • Electricians
  • Police

Other Reasons for Denial

Some denials may not make much sense to the average person, yet insurance providers have their reasons. You can also be denied if you make little money. When you apply, your current income and net worth will dictate how much coverage you can get. However, some companies place internal restrictions on applicants as a cost-saving mechanism.

Even if you have had a previous life insurance denial in Cumming, GA, Wichalonis Insurance Agency can help. Contact our office today to get started on your life insurance quote.

Life insurance is a good idea for single people

Wichalonis Insurance Agency is here for the Cumming, GA community. If you are wondering if life insurance is something you need as a single person, we are here to help you get the information you need to make a good decision. While there are obvious benefits for families with children, single people can also benefit from having a policy.

Benefits of life insurance for single people

The main benefit of life insurance for everyone, regardless of their marital status, is the knowledge that final expenses will be covered without family members and loved ones being financially burdened. This is why everyone should have a life insurance policy if possible.

Additionally, with a whole life policy, there are also living benefits. Even if you do not have children to provide for, in many instances, a whole life policy can offer a cash benefit. This means you could have sufficient cash accumulation for a down payment on a home or other major life expenses. Some life insurance policies are also effective tools for retirement planning.

There are many ways that a permanent life insurance policy could help provide future financial stability. If you thought you didn’t need life insurance because you didn’t have a family to protect, it might be time to reconsider. Learning more about life insurance’s many benefits can help you be better prepared for the future. 

Call or stop by today!

If you live in Cumming, GA or the surrounding area, Wichalonis Insurance Agency is here to help you with all your insurance needs. Contact our office today and learn more about how life insurance can help you secure a stable financial future. 

Do Stay At Home Parents Need Life Insurance?

When breadwinners have life insurance, they can rest assured knowing that if the unthinkable were to occur, their families would be able to move on financially in Cumming, GA. However, there are those who, while not earning a paycheck each week, still provide valuable services to their families. Do they need life insurance too? The answer is, Yes! Stay-at-home parents do need life insurance and here are 4 reasons why from Wichalonis Insurance Agency.

1. End of Life Expenses.

Even a cheap burial or cremation can cost thousands of dollars, and most families do not have that kind of money sitting in a savings account. Additionally, if one passes after a hospital stay or illness, medical bills can be financially crippling to many families. Life insurance can pay for all of these end of life expenses so that the survivors can lay their loved one to rest without stressing over money when grieving. 

2. Paying for Unpaid Work.

Even though at-home parents don’t earn a paycheck each week, they still perform valuable services for their families. This work still has to be completed if they were no longer around. Life insurance can provide funds to pay for child care, cleaning, and other work that the at-home parent provided for the family.

3. Taking Time.

When children are involved, grief can get complicated. Having life insurance funds in an account can provide employment flexibility for the surviving parent to take some extra time in the aftermath of a tragedy. The kids may need a little extra love and attention as they struggle through these hard times.

4. Future Expenses.

Many at-home parents plan on re-entering the workforce after the kids are of school age to help the family’s bottom line. If those earnings are no longer an option, life insurance can provide extra money to make up the difference in future lost wages.

If you need information about life insurance in Cumming, GA, contact Wichalonis Insurance Agency today.

How much life insurance do I need?

When it comes to life insurance, many things need to be factored in not the least of which is how much money you can afford to pay per month. How much insurance depends on several other factors that the knowledgeable agents at Wichalonis Insurance Agency, in Cumming, GA will be happy to discuss with you. They know the right questions to ask so that you can get all the coverage you need at a price you can afford.

If you have a family, you will need to have enough life insurance so that they can maintain their current lifestyle if you are gone. How long they need to be maintained should also be considered. Your current yearly salary is one of the factors and the number of years is the other. If it is five years then it is five times your yearly salary. The last thing your family needs if you are gone is to worry about making ends meet.

You also need to have enough life insurance to clear any debt that you may have. If you have a large mortgage, you may want to add that amount to the figure. You also need to consider your funeral and burial expenses. If you don’t have a family to worry about then you won’t need to consider maintaining anyone but having enough life insurance to cover your final expenses will save your relatives from being forced to come up with the money themselves.

As you can see, quite a few things need to be taken into account when deciding how much life insurance you need. If you live in Cummings, GA and the surrounding area why not get the experts at Wichalonis Insurance Agency to help you to figure out how much life insurance you need in order for you to have peace of mind.