I’m Healthy Now! Should I Reshop My Life Insurance?
Yes, you should. You have nothing to lose!
I get asked this question a lot by clients who originally bought life insurance when they were dealing with a serious illness. Hepatitis. Diabetes. Heart disease. Recent cancer.
But that was ten or fifteen years ago. Now you have successfully completed treatment! Or you have modified your lifestyle for the better. You are stable. Your labs are good. Your physician has made all kinds of nice comments about you in your medical file 🙂
You are healthy! Would it be possible to reduce the cost of your coverage? Let’s give it a shot!
First I will try to get us into a price ballpark. This way we can determine what savings just might be available. If those numbers look good, then we can go through full prequalification.
All this takes place before you submit a formal application, of course. We don’t want to raise false hope or waste anyone’s time.
If it looks like we can get a better a deal, then by all means you go through underwriting. It goes without saying that you do not drop your current policy until the new one is in place. We DO NOT want a lapse in coverage.
And rest assured: your attempt to get better pricing from another company will in no way violate your contract with the current carrier. As long as you keep paying that premium, they are stuck with you 🙂
Here is the bottom line: since you are now healthy, you may very well qualify for a lower life insurance rate. Prequalification is a short and sweet way to find out. Take advantage of it!