Can you get life insurance with pre-existing condition?

Asked by: Velda Monahan Jr.  |  Last update: April 9, 2023
Score: 5/5 (5 votes)

Can you get life insurance with a pre-existing condition? Pre-existing conditions can make it more difficult and expensive to get life insurance, but even if you have a chronic or terminal health problem, you can likely find a policy you qualify for if you shop around.

Can I be denied life insurance because of a pre-existing condition?

Health insurance companies cannot refuse coverage 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.

What is considered a pre-existing condition for life insurance?

A pre-existing condition is a medical issue you were diagnosed with or treated for before applying for life insurance. Each insurer has its own underwriting process, meaning some look more kindly on certain conditions than others.

What disqualifies you from getting life insurance?

Their reasons could be anything from a serious medical condition (like heart disease) or poor results from your life insurance medical exam to nonmedical reasons like bankruptcy, a criminal record, a positive drug test or even a dangerous hobby.

What medical conditions do life insurance companies check?

Some of the illnesses that life insurance companies look for include:
  • Heart disease.
  • Asthma.
  • Diabetes.
  • Depression and other mental health concerns.
  • Cancers.
  • Autism.
  • Epilepsy.
  • Obesity.

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What is considered high-risk for life insurance?

However, typically, life insurance companies may consider you to be a high-risk applicant if you have a dangerous occupation, engage in risky hobbies like skydiving, smoke, have below-average health and/or have underlying health conditions.

Can you be denied life insurance?

A life insurance application may be denied if you have high-risk medical conditions, dangerous hobbies, or if you left important information off your application. You may also be ineligible for certain policies due to advanced age.

What are 3 reasons you may be denied from having life insurance?

Why Do Life Insurance Claims Get Denied?
  • Failure to Disclose a Medical Condition or Other Pertinent Information. ...
  • Life Insurance Premiums Were Not Paid. ...
  • Outliving a Term Life Insurance Policy. ...
  • A Death by Suicide. ...
  • Making a Life Insurance Claim.

Do life insurance companies check medical records after death?

Do life insurance companies check medical records after death? They can do, but only with permission from someone authorised to act on the deceased's behalf in the event of a claim.

Do life insurance companies check prescriptions?

If you're taking medication for high blood pressure, diabetes, depression or anything else, life insurance companies will find out. They use third-party companies such as Milliman Intelliscript to check your prescription drug history.

Can a sick person get life insurance?

Key takeaways. Term and permanent life insurance options are available for individuals with a chronic illness. Some products, including simplified issue and guaranteed issue, are available without a medical exam. Policy options, premiums and coverage amounts may depend on how well a chronic illness is managed.

Can you get life insurance with heart disease?

The short answer is yes, it is possible to get life insurance after a heart attack. There are two common types of life insurance, each suited for different stages of life or levels of risk tolerance. Term life insurance is purchased to provide coverage for a specific period of time.

What is the underwriting process for life insurance?

A: Underwriting is a process that every applicant who applies for insurance coverage needs to go through. It helps determine whether an applicant is insurable — and at what amount and at what cost to the applicant. It's designed to provide the fairest price for a person's risk profile.

Does diabetes affect life insurance?

However, many medical conditions, including diabetes, do not automatically disqualify a person for insurance coverage. In most cases, people with diabetes can still get life insurance; they may have to pay more than a person without a preexisting condition.

How long does it take for life insurance to be approved?

Depending on the type of life insurance policy you are purchasing, and a number of other factors, a life insurance application can be completely filled out and approved within 24 hours or could take a few weeks or even months.

How long does it take an underwriter to approve life insurance?

The life insurance underwriting process has multiple steps and usually takes two to eight weeks to complete. It may be longer than that if your potential insurer has questions or if they need to wait on a response from your doctor.

How long does it take for life insurance to go into effect?

The Average Waiting Period Is a Few Years

Some policies will have you eligible for a death benefit immediately, while others will make you wait four or five years before it takes effect. However, the average amount of time before your life insurance kicks in is one to two years.

Is High Blood Pressure considered heart trouble for life insurance?

Blood pressure of 140/90 or higher may impact your rates, while a reading over 180 can disqualify you for a policy. Will you be denied life insurance if you have high blood pressure? It's unlikely you'll be denied based only on high blood pressure as long as your systolic reading is under 180.

Does life insurance pay out for heart failure?

Does life insurance payout for heart disease? Yes – we all know that heart disease can be serious and in the event of death, your life insurance will pay a cash lump sum to your family.

Can you get life insurance if you had heart surgery?

Yes… You read that right. My annual insurance premium will be 10X greater because I had heart surgery. I'll keep you updated as I learn more about this policy and other matters relating to getting life insurance after open heart surgery.

Can I get life insurance if I'm on antidepressants?

Life insurance companies may decline policies to people suffering from a range of mental health conditions. As is always the case with just about any kind of health condition, criteria vary from insurance company to insurance company. Consequently, there is no general rule when it comes to depression and anxiety.

Do you have to declare depression on life insurance?

If you haven't had any issues with depression in the past 5 years, which means no treatment or symptoms, then you won't need to declare it. If you have had symptoms or treatment for depression then you'll need to declare it as a pre-existing medical condition.

Can I get life insurance with a history of depression?

Most people with depression can qualify for a standard life insurance policy, albeit at a higher premium than someone with no history of mental illness. If your depression is well managed, you may even be able to get a policy at rates similar to those without a diagnosed mental illness.

Does a mental health diagnosis affect life insurance?

For instance, a severe condition of anxiety or depression can disqualify you from life insurance. Any mental illness with an increased risk of suicide will make the cost more expensive, or have you disqualified for life insurance coverage if you go the traditional route.

Can you get life insurance with angina?

YES – you can get life insurance if you have been diagnosed with Angina. Because of the possibility of Angina being a symptom of something more serious, it is possible that the insurer will want to gather further information from your doctor or GP, but this doesn't affect your eligibility for life insurance.