How to Find Life Insurance with Pre-existing Conditions

While those without pre-existing conditions may have an easier time finding life insurance, they’re certainly not the only ones eligible for coverage. If you have a pre-existing condition, you can find the coverage you need, but oftentimes with shorter terms, higher premiums, and generally more hoops to jump through for approval.

Here’s how to find the best life insurance with pre-existing conditions:

Understanding Pre-Existing Conditions

The first step to finding a life insurance policy is to know what a pre-existing condition is and how it affects your approval odds.

Insurers will have their own unique disqualifications for their life insurance, which means disclosing any medical conditions you were diagnosed with prior to applying for life insurance. Some examples of pre-existing conditions include:

• Cancer
• Epilepsy
• High blood pressure
• Heart disease
• Obesity
• Mental health disorders

While these pre-existing conditions are not automatic denials, they can complicate the approval process. So what can you do?

What to Do If You Have a Pre-Existing Condition

You may still be approved for life insurance if you meet other important markers depending on your holistic health. However, you can expect high life insurance quotes and limited conditions like short-term lengths.

If you have one of the conditions that a life insurance company will hesitate with, you may want to prove that the condition is under control to help negotiate better rates.

For example, if you were previously diagnosed with high blood pressure but have since undergone the necessary treatments and are in a routine that has stabilized those numbers, share that with the life insurance company as you may up your choices.

Finding the Best Life Insurance with Pre-Existing Conditions

Looking to get insurance with a pre-existing condition? Here are a few tips:

• Look for adaptive companies – Some life insurance companies are notorious for being flexible and working with people of all backgrounds, while others are known to be rigid in their requirements. Shop around for those flexible options to help boost your chances of approval.
• Find a company specifically designed for you – Some life insurance companies have gone as far as to offer tailored options for a specific niche medical need. For example, you may be able to find a life insurance company for individuals with diabetes or cancer. If one or more of your pre-existing conditions have prevented you from getting approval, it may be time to go straight to a company for your medical need.
• Purchase early on – while this option won’t spare you if you have already been diagnosed, planning to purchase a policy early on can help you to be approved. If you have a family history of a specific health ailment or your health condition is one that could worsen over time, don’t delay purchasing.
• Accept higher rates – Life insurance companies may be willing to represent you for a higher premium. If this is the only way to get approved, it may be worthwhile to purchase even without the best life insurance quotes in place. Acting as an all-or-nothing approach, these life insurance companies, such as a guaranteed acceptance program, will represent you for that higher premium or not at all.

Be Honest on Your Application

Whatever you do, don’t lie! Omitting information or not ticking a box in hopes of receiving the best rates will only hurt you in the end. When it comes time for your beneficiaries to cash in on your policy, additional research from the life insurance company may void the policy and lead to no benefits!

Don’t put you or your loved ones through that unnecessary stress and instead focus on finding the best life insurance company that works with your needs.

The Bottom Line

Finding a quality life insurance policy with pre-existing conditions is possible. The key is to continue shopping around for a plan that works for you and your needs. When speaking to different companies, be sure to disclose any necessary information when shopping around to avoid rendering your policy ineffective when your beneficiaries need it most.

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