Special Needs Life Insurance
Compassionate Coverage for Lifelong Protection
Planning for a loved one with special needs comes with unique challenges—but securing their financial future shouldn’t be one of them. Our Special Needs Care Underwriting Program offers lifetime whole life insurance designed specifically for individuals with autism, Down syndrome, cerebral palsy, and other qualifying conditions.
Special Needs Life Insurance
Protect Your Loved Ones with Our Special Needs Care Underwriting Program
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Life is full of unexpected challenges, and caring for a loved one with special needs is a responsibility that requires thoughtful planning. We understand this, and we’re here to help bring protection to your community with our Special Needs Care Underwriting Program.
No Obligation Consultation
At Diversified Insurance Brokers, we believe in giving you all the information you need to make the best decision for your family. That’s why we offer a no-obligation consultation. Speak with one of our experts, ask questions, and find out how this policy can work for your loved one. Protect your family’s future with a life insurance plan designed to meet your specific needs. Contact the team at Diversified Insurance Brokers today for a free consultation and learn more about how our Special Needs Care Underwriting Program can provide lasting security for your loved ones.
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FAQs: Special Needs Life Insurance
What is “special needs” life insurance?
It’s a life insurance strategy designed to fund a loved one’s lifetime care without jeopardizing needs-based benefits. Typically, parents or caregivers own coverage and direct proceeds to a properly drafted special needs trust.
Who should be the beneficiary—my child or a trust?
In most cases, a third-party Special Needs Trust (SNT) should be the beneficiary—not the individual—so benefits like SSI/Medicaid aren’t impacted. The trustee then uses funds for qualified supplemental needs.
How much coverage do we need?
We project lifetime care costs (housing, caregiving, therapies, transportation) minus available resources and public benefits, then set a target trust funding amount. We can model multiple scenarios and inflation assumptions.
Term or permanent life insurance?
Permanent policies (whole life, universal, IUL) are often preferred for lifelong needs because coverage doesn’t expire. Term can be used for short-to-medium windows (e.g., until retirement assets are sufficient) or laddered alongside permanent coverage.
What about survivorship (second-to-die) policies?
Survivorship life insures two caregivers and pays at the second death, often at a lower premium than two individual permanent policies. It’s commonly used to fund an SNT when both parents are gone.
Can an adult with disabilities be insured?
Sometimes, yes—subject to underwriting. We’ll review health history, capacity/consent requirements, and available simplified-issue or guaranteed-issue options. Often the primary strategy is insuring caregivers to fund the trust.
Will a payout affect SSI or Medicaid?
Paid directly to the individual, proceeds can disrupt eligibility. When paid to a properly structured SNT, assets are administered by the trustee for supplemental needs, helping preserve means-tested benefits.
How do ABLE accounts fit in?
ABLE accounts can complement an SNT for qualified expenses and small, flexible balances. For larger, long-term funding and broader spending latitude, families typically rely on the trust and life insurance.
What riders or features should we consider?
Common adds include waiver of premium, chronic/critical illness riders, guaranteed insurability, and term riders to “ladder” coverage during higher-expense years. Survivorship policies may offer return-of-premium or no-lapse guarantees.
Do we need an attorney?
Yes. An experienced special-needs planning attorney should draft or review the SNT, coordinate beneficiary designations, and align your overall estate plan with state rules.
