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Selling Life Insurance: How to Talk to Clients With Health Issues

Life insurance producers like you have an important job to do.

As you’re selling life insurance to prospects, you have to help them understand how their health affects their coverage and how high – or low – their premiums may be.

Let’s take a closer look at how health status, including pre-existing conditions, play a role in determining how much your prospective clients will pay for life insurance.

Giving your clients the best information possible builds their trust in you. When they’re confident you’re knowledgeable and have their best interests in mind, they’ll want to continue the relationship and they’re more likely to refer their friends and family.

Here’s what you need to know about selling life insurance to clients with health issues or who have questions about their medical conditions.

Selling life insurance to clients with critical health issues

Many people think that they’re automatically disqualified from getting a life insurance policy if they aren’t healthy as a horse.

As a life insurance producer, that’s a myth that you need to overcome when you’re talking with prospects. 

Let them know that a health issue doesn’t necessarily mean they’re not insurable and some policies don’t require a medical exam to extend coverage.

Your clients who do have medical conditions not only wonder about their eligibility for life insurance, but also how it will affect their premium.

As you’re selling life insurance to prospects, it’s vitally important that you help them understand that they have options.

How health impacts life insurance cost

When you start a conversation with a life insurance prospect, the “pre-existing condition” topic will inevitably come up. 

Reassure your prospective client that, for some health conditions, disclosing the issue may be all they need to do to purchase life insurance. 

Other physical situations will make a medical examination or screening necessary.  

These exams usually fall into three categories:

Of course, the possibility of your prospective client paying more for their premium due to a pre-existing condition is on the table, but your careful explanations of what to expect will go a long way in alleviating their concern.

Let’s take a closer look at what medical issues can affect life insurance premiums.

Your client’s health evaluation

What factors determine life insurance premium cost?

  1. The length of time for coverage.
  2. The amount of coverage needed.
  3. Lifestyle.
  4. Age.
  5. Gender.
  6. Current health status.
  7. Health history.

Your client’s health is only one of the factors used to determine how much they’ll pay for their life insurance coverage.

Here are some of those additional elements:

  • The length of time for coverage.
  • The amount of coverage needed.
  • Lifestyle.
  • Age.
  • Gender.

When your prospective clients apply for some kinds of life insurance, like term or universal life, they will usually have to undergo a medical exam and complete a health questionnaire. 

The answers give life insurance providers important insight into your client’s current health condition, their health history, as well as the health history of their family.

Providers take all of this information to estimate your client’s risk of premature death. Generally, the lower their risk of early demise, the lower their life insurance premiums may be.

Put your life insurance clients in the know

The people you’re selling life insurance to depend on you to guide them as they navigate the often-confusing coverage waters.

Give them the information they need to make informed decisions about their life insurance and how their health plays a role. 

When you become a trusted source, your clients will keep coming back to you for their life insurance coverage needs and they may even spread the word to their friends and family.

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