Insurance for the Underweight, Can It Still Be Affordable? (YES, It Is!)
Are you underweight? Do you want to get insured?
Becoming underweight might seem like a blessing, but it does have a lot of ups and downs just as being overweight.
With fewer people that are aware of the condition, there are health risks that are tagged to being underweight. Malnutrition, micronutrient deficiency, poor immune system, and osteoporosis are a few to name.
For these reasons, many life insurance companies can even charge underweight individuals with costly premiums. Believe it or not, underweight people can also be declined just like obese individuals!
However, even if your weight does not fit the guidelines, Hi BMI can help you get insured with a premium that fits the bill. We have helped hundreds of obese and overweight individuals get a policy after so many declined applications. There is no doubt we can help underweight individuals like you, to secure your family financially.
If you want to protect your family from financial turmoil after you pass away, you might want to hover over to the bottom part and starting filling a quote.
Still thinking of putting off your life insurance purchase? Think of it like putting your family at risk. If you die without an insurance, do you think they will be able to get by with a comfortable life? If you have scarce household income and you have an income-dependent family member, it is a must for you to get insured.
We at Hi BMI are dedicated to helping you and your family secure your future without the worries of paying costly premiums.
Do I Really Need A Life Insurance?
There is no better answer for that than YES.
Life Insurance has helped millions of family keep their family homes and pay off any significant debt. With your death benefit paid out to your beneficiaries, they will be able to live life as good as it is when you are still their provider.
To Replace Lost Income
Are you married to an income-dependent spouse? Do you have children with disabilities or are financially-dependent? What would their life be after you pass away?
Purchasing a term life insurance to help your family live by after your death will help them stay financially secured. With the help of insurance, your family will be able to fend for expenses while they cope up with the loss.
To Avoid Huge Estate Taxes
Purchasing life insurance is the perfect way to pass dollars along without getting a huge deduction from tax. Do you own a business that is thriving in its industry? Or, by any chance, do you have a high net worth? Purchasing life insurance will help you eliminate costs as it can pass your fortune to your beneficiaries free of tax. Real estate and business need to be regularly financed for the miscellaneous expenses and upkeep. Your term life insurance can do the trick, as your family decides how to make the best out of your business or estate. Life insurance for underweight individuals helps your family shoulder the expenses while they find someone credible to spearhead your business.
The death benefit that will be paid out of your whole life insurance can be used to pay out some bills and other expenses while your family is in the process of selling your estate. Through the availability of funds when in urgent need, your loved ones will be able to select the next best business proprietor to take care of the business you left. Plus, they do not have to rush into a sale of your estate, getting them nothing but the top-dollar deal.
Leaving Behind Your Legacy
You do not have to own a huge 30-floor building somewhere along in Wall Street or run a multi-million business. Life insurance for underweight people lets you leave a legacy- something that your family will always remember you for. Getting a life insurance means leaving money to your spouse, your children and your beneficiaries. This money can be used to pay off the remainder of your debts. You no longer have to think about paying off pending educational and auto loans, credit debt and even your mortgage.
You can send your children to school or give your family the freedom to keep your family home.
I Can’t Decide What Life Insurance Policy Should I Get
Don’t worry, we will be narrowing it down for you. If you think you still need more professional advice to arrive with the best choice, hop on a call with us and we’ll take you by the hand to get you insured!
TERM LIFE INSURANCE POLICY
Do you have an income dependent spouse? Are any of your children financially dependent?
If your answer is yes, then your first reason to get a life insurance is to cover up for income loss when you pass away.
Term life insurance policy gives you pure death benefit protection for a specific period of time around 10- 30 years, depending on the duration you chose. The specific time is the ‘’term’’ of the policy. Once your term policy ends, the life insurance policy automatically renews every year. Most term life insurance policies even allow the insured to renew until such age of 95!
A decreasing term life insurance has the death benefit reducing over time while premiums remain the same.
A level term life insurance, on the other hand, offers fixed premiums and a fixed death benefit only for the term of the coverage. Level term life insurance offers a fixed death benefit with the premium increases every five years.
Term Life Insurance policy is the best if you are still raising kids staying in your family home. Term life insurance is the cheapest policy you can purchase out there. However, this does not build up in cash value. Once your beneficiaries, or your children, has grown to be financially-independent individuals- you can always exercise your policy’s convertibility feature.
Most life insurance carriers have this conversion option rider allowing the insured to convert to a permanent policy without going through the application and medical examination stages. The conversion option will turn your term life insurance into a whole life or universal life policy, The premium will be increasing, but your health class stays the same when you were insured.
If you are still paying off a remainder of your mortgage, or any huge debt such as an educational loan or credit debt, term policy works very well in these cases. How long will it take for you to entirely pay off the remainder of this debt? If your mortgage will be completely cleared off for the next 20 years, then it’s best to get a 20-year term policy to cover up for this debt.
Keep in mind that once you surrender the term policy, there will no longer be any return on your investment. The good thing about term life insurance policies is their fixed premiums.
PERMANENT LIFE INSURANCE POLICY
If you are looking for long-term benefits, a decent burial, an ability to keep your family’s home and leave an inheritance to your offsprings- this is the real deal.
This type of policy offers guaranteed fixed premiums, guaranteed cash buildup, and guaranteed protection for as long as you live. While this policy is much expensive than term life insurance policies, it has bigger benefits.
Whole life insurance lets the insured borrow cash against the policy. Be careful not to exhaust your ability to borrow from your cash reserves as it will diminish your cash value policy, The life insurance carrier will charge you interest on the money you are lending.
In case you pass away, permanent life insurance policies can shoulder your funeral expenses. Permanent life insurance can protect your estate and your business as your family looks for a potential buyer or a business successor. With permanent life insurance policy, you can pass along dollars to your beneficiaries without tax. This way, you can leave an inheritance to your beneficiaries, donate to a charity or pay off large debts without the costly tax! If you are the family breadwinner, and you have income-dependent family members, a permanent policy can have them financially sound even after your death.
Get a quote from us, and we’ll help you get insured right away.