Buy life insurance with pre-existing conditions


Life insurance pays a death benefit on the death of the policyholder, thus ensuring the protection of surviving family members. But life insurance with pre-existing conditions can be harder to find, making it harder for people with medical conditions to protect loved ones. This guide provides an overview of the best life insurance policy for pre-existing conditions.

What is a pre-existing condition?

Buying a life insurance policy with preexisting conditions can be tricky. This is because insurers assess the medical condition of a claimant. But what is a pre-existing condition?

A pre-existing condition is a medical problem that exists before the purchase of life insurance coverage. Some pre-existing conditions are more serious than others. In some cases, life insurance with pre-existing conditions is not available at all. In other situations, insurance may be available but more expensive.

Can you buy life insurance with a pre-existing condition?

Sometimes it is possible to purchase life insurance with existing medical conditions. However, buying cheaper life insurance may not be an option, as insurers charge higher premiums for people with medical conditions.

The exact rules regarding the exclusion conditions may vary from one insurer to another. For example, many term and whole life insurers will refuse to cover someone with metastatic cancer or kidney failure. Some insurers will cover people living with HIV, but others will not.

In some cases, a condition is not disqualifying but results in higher premiums. For example, a person with hypertension might be able to be covered, but they would generally pay more than a person with blood pressure in the normal range.

How does a pre-existing condition affect life insurance options?

Buying life insurance with preexisting conditions is more difficult. A claimant with a medical problem will need to find an insurer that offers coverage to people with that condition. Depending on the severity of the medical problem, this could leave a very limited choice of insurers. Or it could mean that the only types of coverage available are guaranteed issue policies that don’t require medical exams.

Those who buy life insurance with pre-existing conditions can also expect to pay higher premiums or get less coverage than someone without a disease. This is because insurers price policies based on the risk of death of the covered person while the insurance is in force. A medical problem increases the risk of death for the policyholder and the insurer will have to pay.

Medical conditions that affect life insurance premiums

There is a wide variety of medical conditions that can affect life insurance premiums. For example, life insurance for diabetics or for a person with hypertension will be more difficult to obtain and more expensive.

The following are common examples of pre-existing conditions that could affect life insurance eligibility or costs:

  • Asthma
  • Diabetes
  • Depression
  • Cancer
  • Heart disease
  • Arterial hypertension
  • High cholesterol
  • Epilepsy
  • Obesity

People with these medical problems will need to shop carefully to find the best life insurance policy for the pre-existing conditions.

Best life insurance policy for pre-existing conditions

Those looking for life insurance with pre-existing conditions may want to consider the following types of policies.

Term life insurance

Term life insurance is generally the best life insurance for people with pre-existing conditions. This is because term life insurance policies provide flexibility in the length and amount of coverage. They are also less expensive than whole life insurance policies.

Term life insurance is not always available for people with pre-existing conditions. Most term life insurance policies require medical examinations and a detailed medical history. However, eligibility for coverage depends on the nature of the illness and the policies of the insurer. For example, some insurers may offer standard term life insurance policies to someone with controlled diabetes, while others may deny coverage.

The premiums for term life insurance with pre-existing conditions will be more expensive than the premiums for a healthy person. But it can still be the best option for affordable, comprehensive coverage.

Guaranteed Issue Life Insurance

Guaranteed Issue Life Insurance is available regardless of the applicant’s medical history. Most guaranteed issue policies do not require medical examinations. However, there are usually strict limits on the amount of coverage available. There may also be restrictions, such as a two-year waiting period before the death benefit is paid in full.

Nonetheless, these policies can be a good option for those whose conditions are too severe to qualify for standard term life insurance. For example, if someone is looking for life insurance with pre-existing cancer, this may be one of the few options available.

Group life insurance

If an employer offers group life insurance, it may be available regardless of pre-existing conditions. However, there may be limits on the amount of coverage available. And coverage can be lost when you leave work.

Final expense life insurance

Final expense life insurance is a small policy to pay for funeral expenses. These policies are often available regardless of pre-existing conditions.

How to get a life insurance policy with a preexisting condition

Obtaining life insurance with pre-existing conditions can be difficult. Insurers’ policies differ with regard to disqualifying conditions. This means that a person with medical problems will have to shop more carefully to find the best life insurance policy for the pre-existing conditions.

If someone has a serious medical problem, it may not be possible to get standard whole life or term insurance. In these situations, the only life insurance with pre-existing conditions that may be available might be a guaranteed issue policy, a group life insurance policy through work, or final expense coverage.

What happens if you are refused life insurance?

A person who is denied life insurance can appeal the denial and request a reconsideration. However, if they have a serious medical problem, life insurance for pre-existing conditions of this nature may not be available from most insurers.

A person who is denied coverage by most term and whole life insurers may wish to consider guaranteed issue coverage. However, it is important to recognize the limitations of this type of policy. The death benefit may not be very large and there may be a waiting period before the death benefit is paid in full.


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