Life Insurance for people with Pre-Existing Condition


Life insurance premiums are determined by several factors, such as your age and health- The younger and healthier you are, the better your premiums will be. Whereas, if you have a pre-existing medical conditions like cancer, high blood pressure, high cholesterol, or diabetes, it can significantly increase the cost of life insurance. However, having pre-existing condition doesn’t necessarily mean you’ll be denied coverage.

Medical requirements vary from company to company, and policy quotes and rates are based on the individual in mind. Therefore it is important to shop around for an insurer that will provide you with the best value for your specific condition.

When you apply for life insurance with pre existing condition, you must first complete a life insurance application and answer the medical questions asked. If you give details of a health condition, you will have to provide additional details, such as;

  • The type of the condition you have 
  • Your diagnoses
  • Details of the hospitals, and specialist you visit
  • How severe is your condition? 
  • Does it affect your lifestyle?
  • Family health history and more

It’s important to remember that insurance companies need your consent before they can access your medical records. The insurance company will then use that collected information during the underwriting process to assign you a health classification that will determine the rate they’ll offer you.

There are some pre-existing medical conditions that may move you down the classification list, which in turn will raise your premiums. Some insurance companies may look more kindly on certain conditions than others, and if you are recovering, or your medical condition is well-managed, it may be easier than you expect to find the right policy.  

Some common health conditions that might affect your life insurance rates are:

  • Anxiety
  • High blood pressure
  • High cholesterol 
  • Obesity
  • Heart disease
  • Diabetes

There are many independent insurance agents and brokers that specialize in high-risk insurance who can offer alternative options for people with complicated health conditions. The older you get, the more likely your condition will develop. Life insurance rates increase 8 to 10% each year that you delay applying, so be diligent and lock in cheaper rates by applying for coverage today rather than waiting for your health status to change. 

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