Today, more than 10.5% of Americans are living with diabetes, and another 1.5 million adults are diagnosed with the condition each year. With a prevalence that high, it’s likely that you or someone you know is affected by this chronic condition. While diabetes can often be controlled by diet, exercise, and medication, there are still long-lasting health concerns to keep in mind. For this reason, individuals with diabetes may find certain things to be more complex… like purchasing a life insurance policy.
When it comes to getting life insurance coverage, you have the option of either purchasing a policy on your own or being added to a workplace group policy. If you aren’t offered life insurance through your job, however, applying for a personal policy is your only option for coverage.
On average, about 1 in every 3 American adults will be diagnosed with some form of cancer in their lifetime. These odds make it easy to see that cancer will likely affect you, or at least someone you know, as the years go on.
If you’re applying for life insurance coverage, you may be asked to submit a paramedical exam. This exam, which is provided at no charge to you, usually takes less than an hour of your time. While it is a fairly simple process, the results of your life insurance exam can impact your policy significantly.
There are many decisions to make while buying life insurance coverage. What kind of policy you need, how much coverage to buy, and how long coverage needs to last are generally at the top of that list. Depending on the policy and carrier you choose, though, you may also be able to add additional coverage options, called riders. These riders can help protect your loved ones (and even you!) beyond the policy’s death benefit, and may even be included free-of-charge or at a low cost.
Life insurance is one of those products that you buy, while simultaneously hoping to never use. If the worst were to happen, though, you would want that coverage to support your loved ones in your absence.
There are a number of key financial milestones that mark one’s foray into adulthood. Some prominent ones include contributing to a retirement 401(k), taking out a mortgage, and, of course, buying life insurance. While life insurance is an important purchase that many of us will eventually make — when is the right tim
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