Buying life insurance with pre-existing conditions can be relatively easy or more complicated, depending on the details of your specific medical condition.
Getting the best life insurance rates for chronic conditions like hypertension, cholesterol, and depression is easy with the right insurance company.
However, we recommend doing some preliminary research to get life insurance for more serious medical issues like diabetes, cancer, or heart disease.
We aim to apply our proven strategies and carrier relationships to find the best prices based on your health and lifestyle.
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Life Insurance with Medical Conditions
A pre-existing condition is any ailment or condition you have before applying for a life insurance policy.
If you want to buy life insurance with pre-existing conditions, be prepared to spend more time on the application process.
Before applying for life insurance, gather all relevant details of your medical history and current medications. This will help insurers assess your situation accurately and determine if they can provide coverage.
How to get life insurance with a pre-existing condition
- Have the name, address, and phone number of the doctor treating your disease.
- Check with your physician to ensure they have all the documentation for your treatments.
- Keep a current list of all medications and the dosage for each prescription.
To get competitive pricing and liberal underwriting, always fully disclose your treatment and type of diagnosis to your agent.
An excellent independent agent knows how your medical condition will fit within each company’s guidelines.
Traditionally, life insurance companies classify risk according to your health, occupation, smoking status, and family history.
Insurance companies categorize individuals into various rate classes, such as preferred plus, preferred, standard, and substandard rates.
Life Insurance Health Classifications
| Preferred Plus | Table A = 25% above standard |
| Preferred | Table B = 50% above standard |
| Standard Plus | Table C = 75% above standard |
| Standard | Table D = 100% above standard |
Easy to Insure Pre-existing Medical Conditions
If you have chronic medical conditions like hypertension, anxiety, or high cholesterol, you might be able to secure the cheapest life insurance rates.
It’s worth shopping around and comparing quotes from different insurers to find the company that offers the best rates for your situation.
However, it’s important to note that you won’t know your exact premium until you go through the underwriting process.
Your health will be evaluated during this process, and you’ll be assigned a rate class based on your overall condition. It’s worth mentioning that there is typically a 10-25% price difference between each rate classification.
While individuals in good health often qualify for super-preferred rates, those with well-managed chronic conditions may receive standard rates, which are slightly more expensive.
How can I get cheaper life insurance if I have a pre-existing condition? Lifestyle choices such as exercise habits, diet, and smoking cessation can influence many chronic diseases.
By making positive changes in these areas and improving your overall health status, it’s possible to potentially reduce your life insurance rates.
Life Insurance with High Blood Pressure
Obtaining great rates for life insurance with hypertension is usually not a problem, assuming it is controlled with medications.
If you have high blood pressure and take medication, applying to most life insurance companies will typically be classified as preferred.
To get the best rates, look for a life insurance provider explicitly stating in their underwriting guidelines that treated hypertension is eligible for the preferred plus category.
Is high cholesterol considered a pre-existing condition?
Many life insurance companies allow a preferred plus rate for treating cholesterol with medication.
Since the cholesterol levels vary with each insurance carrier, knowing how your cholesterol level fits into each company’s published cholesterol guidelines is beneficial.
Using our proprietary technology, we can match you with the best company and rates for life insurance with high cholesterol.
Is diabetes a pre-existing condition?
People seeking life insurance with diabetes can usually find affordable rates, especially healthy diabetics who control their blood sugar levels well with diet or oral medications.
If you have been recently diagnosed with diabetes, we suggest waiting at least six months before applying to establish a track record of control.
While applicants with a long-term history of diabetes should ensure their A1C is under eight before applying for coverage.
Although applicants taking oral medication for Type 2 diabetes are usually not eligible for preferred rates, many can still be insurable at standard plus or standard rates.
Life Insurance for Overweight People
If you are overweight, your actual height and weight will be a factor used by life insurance underwriters to determine the price of your life insurance policy.
All life insurance companies have different height and weight qualification guidelines for life insurance for overweight people.
Modern life insurance companies also consider a life insurance BMI chart. A life insurance BMI chart shows how your body mass index fits the company guidelines.
People in good health with moderate weight problems can usually get a standard rate class, while obese people will have to pay extra for coverage.
Insurance with a Family History of cancer or Heart Disease
If you are looking into purchasing life insurance with a family history of cancer or heart disease, do not forget to provide this information to your agent.
Most life insurance underwriters look at any family member who has contracted or died from heart disease or cancer before sixty.
Many insurance companies will look into how many family members were affected and their age when it was diagnosed.
Furthermore, some companies are more liberal with a family history of cancer than a family history of heart disease.
The rate class for people buying life insurance with adverse family history can vary between a preferred plus to a standard plus rate class.
Is anxiety a pre-existing condition?
Is anxiety a pre-existing condition?People seeking life insurance with a few common types of mild depression-like situational depression or seasonal affective disorder, can commonly get preferred plus rates for coverage.
People suffering from life insurance with moderate depression or anxiety can usually get a standard rate class for life insurance.
To qualify, you must be free from suicidal thoughts or attempts, hospitalizations, and only on a few medications.
You can also be denied life insurance because of depression when your condition is classified as severe depression.
Life Insurance for Pre-existing Conditions
Life Insurance for Pre-existing ConditionsUnderstanding the underwriting process for life insurance policies is crucial, particularly if you have any existing medical conditions.
Getting approved is easier when an insurance company utilizes a clinical approach to underwriting insurance policies.
Clinical underwriting considers and compares your complete medical history with the most current medical data to determine your life insurance costs.
It assesses the factors that genuinely impact a person’s lifespan, such as lifestyle choices, family and medical history, and adherence to doctor’s recommendations.
Certain medical conditions can impact life insurance rates by presenting different levels of health risks that influence your life expectancy and coverage premiums.
Securing life insurance for heart conditions or cancer may be more complicated than minor chronic ailments.
In certain instances, insurance companies may have disqualifying conditions for life insurance and reject coverage altogether.
Alternatively, you might receive a rating or higher premiums with specific medical conditions.
This is because insurers view these conditions as carrying a greater risk, prompting them to raise the cost of coverage to compensate for potential claims.
Below is an extensive list of pre-existing conditions that could potentially impact your premium rates when seeking life insurance.
Common pre-existing conditions for life insurance
| ADHD or ADD | High cholesterol |
| Anemia | Insomnia |
| Arthritis | Irritable bowel syndrome |
| Asthma | Kidney stones |
| Autism | Migraines |
| Breast Cancer | Multiple sclerosis |
| Chronic bronchitis | Narcolepsy |
| Colon Cancer | Osteoarthritis |
| Crohn’s disease | Osteoporosis |
| Cystic fibrosis | Pancreatitis |
| Epilepsy | Peptic ulcer |
| Heart palpitations | Psoriasis |
| High cholesterol | Rheumatoid arthritis |
| Insomnia | Sleep apnea |
Will I need to take a medical exam?
Not all life insurance policies require a medical exam, but it is generally recommended to take one if you have a well-monitored medical condition,
Insurance underwriters evaluate your risk based on your medical history, so the exam provides more information about your health and helps them determine your rates.
By undergoing a medical exam, you can avoid automatic rate increases associated with a simplified issue application process.
When assisting high-risk life insurance clients, we employ a thorough and analytical process to find the best options available.
- First, your general medical history is evaluated to determine which insurance companies may best suit your particular medical condition.
- Then, we start the application process by having you complete a brief insurance examination, which can be utilized with many insurance companies.
- Your medical profile is presented to multiple life insurance companies to determine which life insurance carrier will offer you coverage at the most competitive rate class.
People live longer because of scientific improvements, but many insurers only offer coverage based on an outdated underwriting manual created years ago.
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Buying Insurance with a Medical Condition
When searching for a high-risk life insurance policy, it is crucial to make well-informed choices regarding the type of policy that aligns with your budget and needs.
The three central types of life insurance are term, universal, and whole life coverage. Each type has its variations in terms of coverage and benefits.
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Term Life Insurance for Medical Conditions
A term life insurance policy offers guaranteed level death benefits and level premiums for between 10 and 40 years.
Term coverage is the best type of life insurance for someone who needs a significant death benefit for the lowest possible cost.
The least expensive term policy runs for ten years, while 40-year plans are more expensive and last longer.
If you don’t qualify for traditional term life, you may want to consider an accidental death benefit policy that only pays a claim when you die in an accident.
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Universal Life Insurance for health issues
Universal life insurance is one of the two main types of permanent life insurance that covers your entire lifetime.
Different variations of universal life coverage are available, including guaranteed, indexed, adjustable, and variable universal life.
Guaranteed universal life insurance is particularly beneficial for individuals with medical conditions due to its affordability and lifelong guarantees.
Certain niche companies may not increase your premiums or “table rate” your policy solely based on your pre-existing conditions.
Instead, they consider your commitment to paying higher premiums in exchange for lifelong coverage.
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whole life insurance for pre-existing conditions
Whole life insurance is permanent coverage with a higher price tag but offers several benefits.
With whole life insurance, you pay a fixed premium for the duration of your life and receive a guaranteed death benefit. Additionally, these policies accumulate cash values and dividends over time.
It also offers more lenient underwriting options for individuals with pre-existing conditions willing to invest in long-term coverage.
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Guaranteed-issue life insurance for medical issues
Is there life insurance that will cover pre-existing conditions? Yes, guaranteed-issue policies are automatically approved regardless of health, and you can not be denied coverage.
If traditional life insurance policies are difficult to obtain due to your pre-existing condition, explore alternatives such as guaranteed or simplified issue policies.
These expensive whole-life policies only offer death benefits up to $25,000 and are ideally suited for people with health problems looking to cover their final expenses.
However, it’s important to note that some policies have a two-year waiting period before the full death benefit is paid out. AIG and Gerber Life typically offer the best rates on guaranteed issue coverage.
We can guide you in selecting the right policy and help you understand its terms and conditions, including any exclusions or limitations.
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Buying Tip:
We often recommend locking in your coverage for as long as possible if you have a medical condition.
Locking in coverage assures you will maintain coverage for the long run, even if your condition worsens in the future.
Furthermore, insurance companies tend to be more liberal in underwriting permanent life policies.
Replacing Coverage with a Medical Condition
Replacing Coverage with a Medical ConditionIf you have a medical issue and are thinking about switching life insurance policies, there are a few things you need to know.
First, a new policy will have a “contestability period” of two years, which means that if you die within the first two years of your policy, the insurance company can investigate your death.
When switching life insurance companies, you must disclose your medical history and most likely take a medical exam.
Switching to a new company may be difficult if you have had more serious medical problems like heart disease or cancer.
If you have an existing term policy, you could convert coverage to permanent coverage with no medical underwriting.
If your health has improved, you have lost weight, or you have stopped smoking, it is often advantageous to replace coverage.
Talk to an Independent Agent
Working with an independent agent eliminates the hassle of shopping around and calling many agents to get quotes.
If you have a more serious medical issue, seek an agent specializing in high-risk life insurance policies.
We represent many niche insurance companies and can use our insider knowledge to direct you to the best insurance for pre-existing medical conditions.
Which insurers are the best for people with medical conditions? Choosing the best company can be challenging due to variations in guidelines across insurers.
However, Mutual of Omaha, Prudential, and Lincoln Financial are known to be accommodating toward applicants with pre-existing medical conditions.
Our independent agents will help guide you to the best company with the lowest premiums based on your situation.
Naturally, you’ll want to shop for the most reasonable rates to ensure you get the most bang for your buck.
Our calculator can compare the average life insurance cost per month from many quality companies in just a few minutes!
FAQ: Life Insurance with Pre-existing Conditions
FAQ: Life Insurance with Pre-existing ConditionsHow do insurers know if you have a pre-existing condition? Insurance companies determine if you have a pre-existing condition by asking about your health on the application, accessing your medical records, and requiring you to do a medical examination.
How far back in my medical history do insurers evaluate? They can review all relevant medical information, emphasizing medical issues occurring within the past five years. They do need your approval before obtaining a medical report. You can decline consent, but this will hinder your ability to get coverage.
Should I hide my medical condition from the insurance company? Concealing your current medical condition from the insurance company is not advisable. If they discover this information, it could lead to the cancellation of your policy and any death benefit that would have been provided for your family.
Which impairments cause you to be denied coverage? Determining specific conditions that automatically disqualify you from obtaining coverage is challenging, as each company has its criteria. While heart disease and cancer are associated with denied coverage, this is not an exhaustive list.
What if you’ve been denied life insurance coverage? Do not lose hope if you have been postponed or refused life insurance coverage. It may be worth reapplying for coverage once your condition improves. Insurers might offer a timeframe for submitting another application if you have been postponed.
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Affordable Life USA is a leading independent insurance agency offering comprehensive life insurance solutions to clients nationwide.
Eric Van Haaften, LUTCF
1-877-249-1358
