Life Insurance forTerminal Illness
A terminal diagnosis brings overwhelming challenges. While we can't change the diagnosis, we can help secure your family's financial future and provide peace of mind during this difficult time.
We're Here to Help
Facing a terminal illness is incredibly difficult. Our priority is helping you secure your family's future with dignity and compassion, exploring every available option for coverage.
Understanding Life Insurance with Terminal Illness
The Reality
Traditional life insurance applications require health disclosures, and a terminal diagnosis typically prevents approval for standard policies. However, several options still exist to provide family protection.
Available Options
While options are limited, several paths exist to provide some level of family protection and financial assistance during this challenging time.
Life Insurance Options After Terminal Diagnosis
Guaranteed Issue Whole Life Insurance
How It Works:
- • No health questions asked
- • No medical exams required
- • Guaranteed acceptance (ages 50-85)
- • Coverage up to $25,000
- • Immediate accident coverage
- • Graded death benefit (2-3 years)
Important Details:
Graded Benefit Period
If death occurs from illness in first 2-3 years, beneficiaries receive premiums paid plus interest. Full benefit paid after waiting period.
Immediate Accident Coverage
Full death benefit paid immediately if death results from accident, regardless of waiting period.
Group Life Insurance Conversion
If You Have Employer Coverage:
- • Convert group life to individual policy
- • No health questions for conversion
- • Must convert within 31 days of job loss
- • Coverage amount limited to group amount
- • Higher premiums but guaranteed
Conversion Benefits:
- • Immediate full coverage
- • No waiting periods
- • Portable coverage
- • Guaranteed issue rights
- • Can't be cancelled for health
Time Critical: You must act within 31 days of losing group coverage. Don't delay if you're facing job loss due to illness.
Accelerated Death Benefits
If You Already Have Life Insurance:
- • Access death benefit while living
- • Typically 25-100% of death benefit
- • Use for medical expenses
- • No repayment required
- • Reduces death benefit by amount taken
Common Uses:
- • Medical treatment costs
- • Experimental treatments
- • Home modifications for care
- • Family time and travel
- • Debt payment
Check Your Existing Policies: Many life insurance policies include accelerated death benefit riders at no extra cost. Review your policies immediately.
Final Expense Insurance
Designed for End-of-Life Costs:
- • Coverage amounts: $5,000 - $50,000
- • Simplified underwriting
- • Lower premiums than whole life
- • Immediate coverage for accidents
- • Graded benefits for illness
Covers Essential Expenses:
- • Funeral and burial costs
- • Outstanding medical bills
- • Credit card debts
- • Final expenses
- • Small legacy for family
Financial Planning During Terminal Illness
Immediate Financial Needs
Medical Expenses
Treatment costs, medications, equipment, home care
Lost Income
Reduced or eliminated earnings during treatment
Family Support
Spouse may need to reduce work to provide care
Travel Costs
Treatment centers, specialist visits, family visits
Family's Future Needs
Final Expenses
Funeral, burial, estate settlement costs
Debt Payment
Mortgage, credit cards, medical bills
Income Replacement
Ongoing family living expenses
Children's Future
Education funding, opportunities
Additional Resources for Terminal Illness
Government Benefits:
- • Social Security Disability (SSDI)
- • Supplemental Security Income (SSI)
- • Medicare/Medicaid benefits
- • Veterans benefits (if applicable)
Other Options:
- • Viatical settlements
- • Life settlements
- • Charitable organizations
- • Medical assistance programs
You Don't Have to Face This Alone
While we can't change your diagnosis, we can help explore every available option to provide some financial security for your family. Let us help you navigate this difficult time with compassion and expertise.
Our Commitment to You:
Available Monday-Sunday 8AM-8PM • Sensitive, confidential consultations