Welcome to Quotacy’s Q&A Friday where we answer your life insurance questions. Quotacy is an online life insurance broker where you can get life insurance on your terms. I’m Jeanna and I’m Natasha Today’s question is: what if I’m declined when I apply for life insurance? Being declined for life insurance can be pretty disheartening. Whether you were denied because of health reasons or a different issue we want to make sure you know all of your options. First things first, did you apply to an independent life insurance broker? If not, we encourage you to try applying for life insurance again but this time through a broker. Quotacy is an independent life insurance broker. This means we can shop your application to multiple different life insurance companies to find out which one will approve you and give you the best price. Not all life insurance companies evaluate applicant risk factors in the same way. They all have their own guidelines that they follow. For example, if you were denied life insurance in the past because you smoked marijuana, a broker can shop your case around to find the company that’s the most lenient with marijuana use. If you applied with an independent life insurance broker and were still denied, don’t lose hope. First, request from the insurance company as to why you were denied. This will help determine your next step. For example, if you were denied based on a health issue maybe it’s something you can work on to improve and apply again down the road. Getting life insurance sooner rather than later, however, is understandably your goal. If you have group life insurance through your work find out if there is an option to purchase voluntary supplemental life insurance. You can typically buy a certain amount, like up to three times your salary, without needing to provide evidence of insurability or get a medical exam. These premiums are more expensive than traditional life insurance and the premiums are typically not fixed and increase usually every five years. But if you have loved ones to protect this option is better than having no coverage. If your work does not offer this, next look into accidental death insurance. This is similar to a life insurance policy but would only provide coverage if your death is the direct result of an accident, like a car crash. With this type of policy, the application is very easy and you don’t need to be medically approved. But, again, it only pays out if you died due to an accident not illness. And depending on your age, you may have another life insurance option. Final expense life insurance is typically available for individuals age 50 and older but some companies do offer it to people as young as 40. Final expense life insurance policies are also sometimes referred to as burial insurance and guaranteed whole life insurance. These policies cover all causes of death and do not require a medical exam or health questionnaires. But the premiums are quite expensive. These policies are typically only purchased if you don’t have many more years to live and want to leave behind money so your family can take care of the funeral or medical bills. As a recap, if you’ve been denied for life insurance there are some steps you can take. First, request why you were denied. Next, apply through a life insurance broker if you didn’t the first time around. Finally, look into other life insurance options such as supplemental group life insurance, accidental death life insurance, or final expense life insurance. Thanks for watching. If you have any questions about life insurance, make sure to leave us a comment. And if you have any questions regarding today’s topic, check out the blog link posted below. And if you’re ready to get quotes, check out Quotacy.com. We’re here to help you find the best deal on the life insurance you want. Bye! Thanks for sticking around. We’d appreciate it if you Liked the video and hit that fancy little Subscribe button to see us every week. Bye!