Obtaining life insurance after a bankruptcy requires patience and a good insurance agent.This article was originally distributed via 24-7 Press Release Newswire. 24-7 Press Release Newswire, WorldNow and this Site make no warranties or representations in connection therewith.
NASHVILLE, TN, May 22, 2014 /24-7PressRelease/ -- Procuring life insurance after a bankruptcy is not impossible, explains Clark & Washington, but it will require you to wait for a period and you may have issues finding a policy with the terms you desire.
If you do not currently have life insurance, you will need to wait until after your bankruptcy case has either been cleared, discharged or settled. This is especially true if you file for Chapter 7 bankruptcy in Nashville
. After Chapter 7, you will have to wait an additional 360 days after your case is resolved before you can apply for life insurance.
While you may assume that a life insurance company would be concerned with your ability to pay for your policy after a bankruptcy, that could not be further from the truth. It is a profitable venture for them if you to pay into a policy and then default on paying before you die. The company is able to get your money without having to pay it out in return.
Instead, life insurance companies are hesitant to insure individuals who have filed for bankruptcy because there is a statistically higher risk of death due to mental health issues. Bankruptcy is often accompanied by feelings of anxiety, stress, depression and even a higher risk of suicide. Obviously, suicide is the biggest risk for insurance companies, but even a small increase in your stress levels can be a health hazard as it raises blood pressure and has a negative effect on the body.
When you have waited for an appropriate period, talk with your insurance agent. Be sure to bring up your bankruptcy with your agent, and have them help you to find the right life insurance company for your needs.
Learn more at http://www.bankruptcyattorneynashville.com
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.bankruptcyattorneyNashville.com
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For the original version on 24-7 Press Release Newswire visit: http://www.24-7pressrelease.com/press-release/nashville-bankruptcy-attorneys-clark-amp-washington-discusses-life-insurance-and-bankruptcy-385818.php