Graded Death Benefit Policies

Is your diabetes really severe and you’ve been declined for life insurance? I have good news for you because we specialize in high risk diabetes cases. We can find life insurance for just about anybody in your condition.[break][break] What’s a Graded Death Benefit Policy? [break] [break]This is a life insurance policy which has been specifically set up for people who have a more sever form of diabetes and can’t get standard whole life insurance coverage. The particular life insurance policy has a face value which ranges between $5,000 to $25,000.  There are only two levels of pricing which includes:

1. Smoker, or

2. Non-Smoker.

In most states the issue ages are for people who are between 25-80 years of age.

What Kind of Benefits Do I Get if I Qualify?

If you qualify for the Express Issue policy, your death benefit will be paid out in what’s called a Graded Benefit.

This means that if you die within the first two years after being issued a policy issue, your death benefit will be limited to your amount of premiums plus 12% per year.

However, if your death is due to an accident in the first 2 years, the company will pay out the full death benefit.

After the second year, the full death benefit is payable upon death regardless of the cause of death.

What You Need To Qualify

To qualify, all you have to do is be able to answer NO to the following 6 questions and then you can qualify for the Express Issue Whole Life plan which is available through United Home Life.

1. Do you currently on kidney dialysis or use oxygen? Or, have you received or been told that you need an organ transplant or been diagnosed with a terminal illness? (Means any illness that will likely result in death in the next (24) months.)

2. Do you need help feeding, bathing, dressing or take your own medication? Or, are you presently restricted to a hospital, nursing home, mental facility, hospice, or require home health care?

3. Have tested positive for AIDS,  diagnosed, treated, or recommended for treatment for AIDS (Acquired Immune Deficiency Syndrome), ARC (AIDS Related Complex) or any other immune disorder?

In the past twelve (12) months:
4. Other than for temporary or minor conditions, have you been hospitalized two or more times?

5. Other than using medication to prevent, maintain or lower your risk, have you been treated for or diagnosed with any cancer (other than Basal Cell Skin Cancer), heart attack, stroke, or had heart surgery (including angioplasty)?

6. Have you used any illegal drugs, been treated for or been told to seek treatment for drug abuse?

Have You Answered Yes To Any of the Above Questions?

If you answered Yes to any of the above health questions, then you still can get a guaranteed issue policy.

This is basically a policy that almost anyone can qualify for.  It doesn’t ask any medical questions on the application, so even if you had terminal brain cancer, you could qualify.

The only drawback is that the death benefit is usually limited to a return of premium plus 5% for the first 2 years on these policies.

The graded death benefit policy is not available in all states.