Arizona Whole Life Insurance refers to any kind of whole life insurance policy in the state of Arizona. It’s also known as Final Expense insurance.
It’s a type of life insurance policy not to be confused with a term life insurance policy or an accidental life insurance policy. Whole life insurance is typically going to be for anyone over the age of 65.
Ages 65 to 85 is the window that is targeted for this particular type of insurance. Although, many people under the age of 65 have whole life insurance policies in the state of Arizona. It’s really common. to see whole-life plans even for children up to 17 years old. Around 45 to 55 years of age there is a real spike in the increase of whole life policies taken out.
The most popular age group is 65 and older. That’s when health begins to decline. A lot of that population does not qualify for term life insurance. Once they’re past 65, their health just isn’t the same and it won’t qualify them for it. Disqualification is based on having more than one prescription medicines and/or one or more medical diagnoses . However, whole life insurance policies are much more flexible in their approval ratings. So if your health is poor or mediocre, there’s a very good chance you can get a whole life insurance policy.
There’s a good work around to ensure approval after 65 years of age, That is a guarantee life insurance policy if you are between the ages of 55 and 80. So even if you have current cancer, congestive heart failure. Severe bronchitis, I mean, chronic, you know, severe COPD. maybe you have, complications from diabetes such as a neuropathy or some other complication like that, a circulatory issue, kidney disease, liver, lung issues, things like that, all the severe congestive heart failure, you know, or any congestive heart failure. But CHF is a pretty serious thing. So any of these things that you can get a guaranteed issue, life insurance policy, the deal with guaranteed as they make you wait two years for full coverage. And then it’s a normal whole life policy, just like all the others said.
Great way to go if you have some health issues going on. What I encourage most of my clients to do, if you’re on board with that, is you start with a guaranteed issue policy and then have your agent just check back with you, about once every six to 12 months. And see if you can get moved from a guaranteed issue into another policy that starts right away.
So you cut that delay down. But worst case scenario is you can’t change it over, to something that’s not guarantee. And two years go by and you’ve got your whole life policy and it’s all set. So it’s a great way to go. So if you have other specific questions about Arizona whole life insurance. sure.
Hope that you call me. reach out to me. Send me a text, an email. I’ll be happy to help you. Take care.