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

Life Insurance This is a way to ensure that your loved ones are provided for if you pass away. You pay a monthly payment (called a premium), and the insurance provider agrees to pay you. Beneficiaries A payment when you die (called a death benefit). They can use the payment however they want, from funeral expenses to paying for their education.

Life insurance is worth it. For many people. But getting it isn’t a slam dunk. Life insurance providers decide whether you are eligible for the policy. Based on several factors, including your age, gender and whether you participate in any hazardous activities. These factors help providers gauge how risky it would be to insure you. One of the factors they consider is your health, including any pre-existing conditions.

Pre-existing conditions can make getting life insurance difficult, but not impossible. In this article, we will explore ways that people with pre-existing medical conditions can still secure life insurance.

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

Pre-existing conditions are health conditions that can affect your life expectancy. These include cancer, high blood pressure, asthma and diabetes. Many life insurance policies A medical exam is required, which includes checking your vital signs and reviewing your medical history. If the test determines that you have a pre-existing condition, it may increase your premium (if you’re approved for the policy) or prevent you from getting the policy altogether. can stop

That said, just because one provider denies you coverage doesn’t mean every provider will. If you have a pre-existing condition, you still have options.

How to get life insurance with a pre-existing condition

Don’t give up on life insurance if you have a pre-existing condition. Here are four ways you can still get a policy.

1. Get no-exam life insurance.

Oh No Exam Life Insurance Policy A medical exam is not required, so you will not be denied because of a pre-existing condition.

Premiums for a no-test policy can be high, the death benefit can be limited, and some have age limits. But they are worth considering if you can’t get a policy otherwise. Before signing on the dotted line, compare the policy’s coverage terms with your needs.

2. Look into term life insurance

The two main types of life insurance are term and whole life. with Term Life Insurance, you pay a small premium but are covered only for a specified period. with Whole life insuranceyour premium is higher, but you are covered for your entire life.

Term life insurance is generally less expensive than whole life insurance. If you qualify for both types of coverage but can’t afford the full, term may be your best bet. You can always consider. Converting your term policy to a whole policy When it will end. This process does not require a new medical examination, so you can get a whole life insurance policy even if your condition worsens.

3. Accept higher premiums.

Life insurance providers are wary of applicants with pre-existing conditions because they are riskier to insure. As a result, they often charge higher premiums than people with pre-existing conditions. While paying high premiums isn’t ideal, if it’s the only way you can get life insurance, it can be worth it for the peace of mind it provides you and your loved ones.

Comparison shopping is the best way to find the right coverage for you. Start by Get a free estimate Or use the table below.

4. Consider group life insurance.

If your employer offers a life insurance plan, you may qualify without a medical exam. Group policies are less expensive than individual policies, but they only provide basic coverage. Depending on your needs, you may want to add Supplemental life insurance To get your preferred coverage amount. Supplemental policies often don’t require a medical exam, and you can get them through your employer. discount.

The bottom line

A pre-existing condition does not prevent you from getting life insurance. You may need to consider options other than a traditional policy. As with any type of life insurance, the sooner you apply, the better. If you lock in a policy before you further develop your pre-existing condition, it can save you on premiums. Whatever you do, don’t hide your condition. Lying on a life insurance application can result in the provider denying death benefits to your beneficiaries.