Life Insurance with a Pre-Existing Condition (2024)

FAQs

What life insurance can I get with a pre-existing condition? ›

Due to the added risk health problems create for insurers, some pre-existing conditions can raise your premium or even disqualify you entirely from certain types of life insurance. A few common examples of pre-existing conditions include high blood pressure, diabetes, cancer, and asthma.

Can I get life insurance with a pre-existing medical condition? Yes, you can, but it might cost you more. That's because an insurance provider may view you as a higher risk for making a claim. The number of providers willing to cover you could also be limited.

Under the Affordable Care Act, health insurance companies can't refuse to cover you or charge you more just because you have a “pre-existing condition” — that is, a health problem you had before the date that new health coverage starts. They also can't charge women more than men.

Pre-existing conditions – meaning any health issue or condition that existed before applying for coverage – are often considered high-risk by insurance companies and can lead to disqualification. Chronic conditions that require long-term medication or treatment can also impact eligibility.

While younger and healthier people qualify for more affordable life insurance options, having one or more pre-existing conditions does not automatically disqualify you from eligibility. Typically, those with pre-existing conditions face fewer choices and higher rates, but there are policy options available.

Life insurance applications can be denied due to health conditions, high-risk occupations or hobbies, lifestyle factors, financial considerations and age or life expectancy. It's possible to challenge a life insurance denial by writing a well-structured appeal letter and reapplying.

Accidental death: Accidental drug overdose, motor vehicle accident, poisoning, drowning, or any other tragedy. Pandemic-related illness: The coronavirus, for example, is categorized as a natural cause of death. Suicide after two years: As long as the period covered by the suicide clause has elapsed.

Whilst life insurance exclusions may vary, the typical exclusions are: Genetic illnesses. Alcohol, drug or smoking related. Health and lifestyle related e.g obesity.

Health insurers can no longer charge more or deny coverage to you or your child because of a pre-existing health condition like asthma, diabetes, or cancer, as well as pregnancy. They cannot limit benefits for that condition either.

Can you get life insurance if you're already sick? ›

In general, the same policies that are available for healthy people may be available for those who suffer from chronic illness. Unless the illness is terminal, or drastically reduces your life expectancy, you may be able to qualify for either a term life or a permanent life insurance policy.

The key reasons life insurance may not pay out include if the policy has expired, lapsed due to unpaid premiums, the insured was untruthful on the application, the insured died from illegal activities, suicide, homicide, or during the waiting period.

A medical illness or injury that you have before you start a new health care plan may be considered a pre-existing condition. Conditions like diabetes, chronic obstructive pulmonary disease (COPD), cancer, and sleep apnea, may be examples of pre-existing health conditions.

The time period during which a health plan won't pay for care relating to a pre-existing condition. Under a job-based plan, this cannot exceed 12 months for a regular enrollee or 18 months for a late-enrollee.

A pre-existing medical condition (PEMC) is an illness or injury you had before your policy began or was renewed. Examples of pre-existing medical conditions include, diabetes, asthma, high cholesterol or a long-term back condition.

After serving any applicable waiting periods on your health insurance policy, you can begin to claim benefits in your policy – including any related to your pre-existing condition.

Insurance companies may choose to decline a life insurance policy application to people working in high-risk occupations. The same goes for high-risk extracurricular activities. These activities carry a higher risk than some life insurance companies may be willing toinsure.