Can I Do This If I’m Uninsurable?

by | Jan 17, 2016 | 2 comments

Do you want to follow the Farming Without The Bank concept and you are ready to go but you are not sure you can get insurance?

Even though I talk to you about cash value at the end of the day it’s an insurance policy and you have to go through the health screening and get approved.

It’s not uncommon for me to run into someone who is concerned they can’t do this because they are uninsurable. That may be a minor setback but it is not the end of the road.

If you have read the book you saw that we can write insurance on another person’s life as long as you have an insurable interest in that person. If you are married you can ensure your wife, if you are farming with your child you can insure them, and if you have a business partner you can insure them.

What I mean is YOU pay the premium and THEIR life is insured. If you do not qualify for insurance but they do, you can still have a policy that grows cash value. The only difference is the death benefit will be paid upon the other person’s death and that death benefit will go to you if you outlive them.

Many things in life make us uninsurable from the obvious to the not so obvious. Some of the obvious reasons are cancer, heart disease, diabetes or stroke. Some of the not so obvious are depression, obesity, pilots of small planes, or any other risky sport.

Never think you don’t have a chance to do this because of your health! Always take that next step, read Farming Without the Bank and then call and get some questions answered.
-Mary Jo


  1. Waylan Nelson

    I bought a 40 acre parcel from my land lady with an agreement I have a right of first refusal on the remaining 80 acres she owns. This is even recorded on the deed. I tried getting insurance on her, but she has COPD, still smokes, and is 73. What other Avenue can I take to reassure I can buy her kids out when the time comes? Thanks! Waylan

    • maryjo

      The only thing you can do possibly is start building a policy on yourself so you have cash value there to use when she passes.

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