Affordable Life Insurance Rates with PTSD

Planning for your future | Life Insurance

Finding Affordable Life Insurance Rates with PTSD

Life Insurance for Veterans with PTSD

5 Steps to Obtaining Lower Rates for Veterans with PTSD

Have you been declined life insurance as a veteran with PTSD (Post Traumatic Stress Disorder)?  Maybe you have not been declined but been offered rates for life insurance with PTSD that are just not anywhere near your price range or within your budget. Let us start by saying that we are here to help with that.  We want you to understand how to navigate the life insurance market and find affordable rates as a veteran with PTSD.

Veterans with PTSD, such as yourself reading this have already endured enough to have to also deal with a tough life insurance market and high prices.  Stay with us to find out some tricks of the trade to finding affordable life insurance rates as a veteran with PTSD.  Veterans with PTSD has been a growing medical concern for the last several decades and shows no signs of slowing down.  Many of you reading this have possibly already tried obtaining life insurance recently and did not have great luck.  It can be tough.  We know that and Good Life Protection and want to help.

affordable life insurance rate for veteran with PTSD

Infographic data taken from medlineplus.gov

Some simple steps can help ensure that you don’t have to pay inflated prices for life insurance with PTSD whether you’re a veteran or not.  Follow these steps and we promise you will have some better luck the second go around obtaining affordable rates for your life insurance with PTSD.

affordable life insurance rate for veteran with PTSD steps


STEP 1

Independent Life Insurance Agency Only

No more State Farm or New York Life or Farmers to cover your needs with PTSD.  Especially as a Veteran.  It won’t work for you.

Why?

They have no options and nowhere to turn.  They also typically have tight underwriting guidelines that will often leave you declined or being offered huge premiums to cover your life insurance with PTSD as a veteran.  You must turn to an Independent Agency.  We are one of those agencies.  We represent fifty plus life insurance carriers and we understand the strengths of the underwriting guidelines of each life insurance carrier.

Especially when it comes to obtaining lower rates with PTSD. We see it all the time.

You see…. All companies don’t follow the same underwriting rules which means unless the life insurance agent or agency has plenty of experience with your exact medical condition such as PTSD, your likely not going to get the help that you deserve.

At Good Life Protection, we have seen hundreds of cases for veterans with PTSD and hundreds of cases in general involving PTSD.  If handled correctly, they can be approved and at affordable rates.

STEP 2

Honesty Only- How bad is the PTSD?

You need your life insurance agent to know all the details about your PTSD.  Is it…

  • Mild
  • Moderate
  • Severe

Have you ever had any suicide ideations? How many medications does it take to control the PTSD?

Are you still able to live a functioning life?  Are you still working full time, and have you avoided things such as…?

  • Driving Under the Influence of Alcohol?
  • Bankruptcies?
  • Other felony or misdemeanor crimes?

You see…

It’s not always about just the condition.  It’s sometimes about the overall state of your life and how it’s impacting your everyday lifestyle.  Life Insurance carriers love when everything else in your everyday life is moving along without much interruption due to the PTSD.  This leads them to believe that it’s not having severe impacts which in return makes them feel warm and cozy about offering your life insurance coverage.  It’s all about risk.  Risk for the life insurance carrier and risk for you as well.

The less risk you deem to pose on the life insurance carrier for the death benefit being paid out, the lower rates you will achieve.  Plain and simple.  So, what else can you do to improve your chances of approval?  Let’s move onto step 3.

STEP 3

Have Reasonable Expectations and Have Patience

Many consumers such as yourself begin the life insurance process and have expectations that are a bit un realistic for yourself and the life insurance agent. No offense of course, just giving you the true 411.  Especially if you have PTSD as a veteran or PTSD as an everyday life insurance consumer.  The process takes time.  Sometimes multiple life insurance carriers must get involved to get you the best deal.  What does this do the process? Nothing, it just takes more time.  You must understand that just because you only speak to the life insurance agent, many individuals are collaborating to get your life insurance in place.

  • Physicians
  • Life Insurance Carrier
  • VA
  • Case Managers
  • Underwriters

All the above-mentioned individuals are all part of the process and all have task that need completed to gaining you the best possible life insurance rates for having PTSD.  Be patient and let your life insurance agent work his or her skills to finding you affordable coverage.

STEP 4

Have a Life Insurance Agent that Will Work on your Behalf

This needs some explaining.  Any life insurance can apply for you.  Most anyone could complete this task.  It’s not all that difficult.  It’s the behind the scenes effort that you need help to gain you affordable life insurance rates with PTSD.  At Good Life Protection we frequently use cover letters and write them on your behalf to the specific carriers underwriting department.

Why do we write these letters for you?  They help.  They go a long way with dressing up your medical condition and showing it in the best possible light.

You see…

If you don’t give the underwriters anything to go over except the application, it gets treated like every other life insurance application.  How many life insurance applications do you think a carrier has come in per day?  Hundreds.   The cover letter is often used to describe the symptoms, medical status and any other relevant information that can help shed some light on the medical condition and give it a better chance of being scene in a non-threatening manner for the life insurance carrier. Ask your agent to perform this task for you.  If they don’t know how or don’t do it, work with one who will.  It will make a difference and it should not be overlooked.

STEP 5

Pivot Life Insurance Carriers if Need Be

An application submitted with one life insurance carrier does not mean it has to stay with them after approval.  We frequently gain approval on life insurance applications and shop out your prices with other carriers to see if any other provider can give you the best rate.  

This circles back around to step 1.  Work with an independent agent.  Jake from State Farm can’t do this for you.  No matter how great they were with helping you through your last auto-claim, they can’t help you with this.  In fact, they rarely can approve or offer coverage with PTSD in the first place.  

Therefore, you must be selective with the life insurance agent and agency you choose to work with.  Without these options your most likely just going to feel hopeless and like you have no chance of gaining life insurance with PTSD.

affordable life insurance rate for veteran with PTSD jake from statefarm


Putting it All Together

Follow the 5-step process.  It will help.  If you are a veteran with PTSD, life insurance coverage is doable.  Be selective of you work with and ask the correct questions to assure you have the person and agency you want to work with in your corner.  Have reasonable expectations and know that all good things take some time.  

The underwriting process may be lengthy.  You may begin to believe you are getting declined or going to be offered rates through the roof.  Give your life insurance agent the opportunity to work his channels and go through his processes before throwing in the towel.    Be willing to complete the full underwriting process including the medical exam and don’t be offended by the life insurance carrier needing access to your medical history.

It’s the only route you can really take to have a chance at finding affordable life insurance with PTSD. USAA is not always the answer just because you have served in the military. In fact, it rarely is the answer for you.  If you follow these steps and have reasonable expectations, you will be surprised at the rates and approvals you can achieve.  

Don’t leave the life insurance on the table.  If you are a veteran and have served our country, you have been through enough and we thank you sincerely.  Don’t allow life insurance to be another burden.  We are here to help.  Call Good Life Protection today or fill out a quote form and one of our agents will reach out to you to help underwrite your PTSD and gain you affordable coverage.

Have a prior attempt at gaining life insurance with PTSD or as a Veteran? Have we missed anything?  Comment below, we would love to hear from you and are here to help or hear your story.

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