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Sickle Cell, Life Insurance Options

Sickle Cell, Life Insurance Options

I strongly believe that everyone should have life insurance. Many people feel that life insurance is for the unhealthy but the fact is life insurance is really for the healthy (you need to apply while healthy). When you become diagnosed with something that affects your health, the rates for life insurance can become substantially higher, that is if you can even qualify for life insurance at all.

Canadians living with Sickle Cell often struggle with trying to find life insurance coverage to no avail. So what can be done when most insurance companies have restrictions that often automatically eliminate you from the application process?

Life Insurance Options for those with Sickle Cell

Luckily, there is a company in the Canadian market place that provides No Medical insurance that I have successfully placed clients with that suffer from Sickle Cell. There are however some restrictions;

  • You must not have applied and been declined life insurance coverage in the past 2 years.
  • You must be between 20 and 70 years of age.
  • The amount of life insurance you can take out is limited, ranging from $25,000 to $150,000, that depends on which package you qualify for. 
  • The premiums the are slightly higher than a traditional life insurance policy. We would be looking several premium options depending on when you were actually diagnosed with Sickle Cell and when you started treatment for it.

To apply for the coverage, there are several questions that are asked to determine if your are insurable but for the most part if you are in generally good health, you should be accepted with Sickle Cell.  To learn more about No Medical life insurance for those with Sickle Cell and for a free quote please contact me.

About the Author

Neil Lecky

Neil Lecky

Neil Lecky is a Life Insurance Advisor, Group Employee Benefit Specialist and an Investment Funds Advisor with Alliance Financial Group. He is also a Branch Manager and Investment Funds Advisor with Investia Financial Services Inc., a mutual fund dealer.

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Alliance Financial Group
Investia Financial Services Inc.