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What If You Develop Health Problems After Buying Life Insurance?

Your policy will remain in force – at the same price – throughout the term you select as long as you pay all premiums when due.

But if you want coverage beyond the term you chose, your options may be limited. Here are the major ones:

  • Convert your term policy to a permanent policy. The permanent policy's rates may be based on your original underwriting classification, not your current health. Be aware, however, that most term life policies have a time limit on the conversion option. If this is something you're considering, contact a SelectQuote licensed agent right away.
  • Keep your current policy. When your guaranteed term period ends, you will probably have the option of keeping your policy until the age of 95 or 100. Your premium will immediately increase, and climb annually thereafter. However, if your health has declined significantly, you may find the higher premiums are worth the investment.
  • Talk with a SelectQuote licensed agent when your guaranteed term is coming to an end. If your health has declined significantly from when you first got your policy, we will search for a new policy from the highly-rated life insurance companies we represent that specialize in underwriting special risks. We've been able to find reasonably affordable coverage for cancer survivors, as well as for clients with diabetes or heart disease. Hopefully, we can do the same for you.

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