If you have poor credit and don't live in one of the three exempt states, consider requesting an extraordinary
life circumstances exemption.
Also, Connecticut has an «elc» or extraordinary
life circumstance exemption.
Not exact matches
Exemptions are granted based on certain hardships and
life events, health coverage or financial status, membership in some groups, and other
circumstances.
The bottom line, though, is that in today's low - return environment, not wanting or needing permanent
life insurance anymore — whether due to a change in estate planning needs because of the increased - and - now - portable $ 5.25 M estate tax
exemption, or a general change in needs and
circumstances, or a policy that is in danger of lapse due to underperformance — is not necessarily a reason to cancel it.
This
exemption allows you to request insurance carriers not to use your credit score when calculating your rate, if you can show that your poor credit was caused by specific
circumstances beyond your control, such as serious illness, divorce, unemployment, and similar
life catastrophes.