How Do Pre-Existing Conditions Affect Life Insurance?


When determining the premiums you will pay for your life insurance, carriers usually use your health status to place you into one of several rate classes. The younger and healthier you are, the better the rate class you will qualify for, and the cheaper your rates will be. 

Pre-existing conditions (Health conditions such as cancer or diabetes that you experience before applying for life insurance) can seriously impact not just the rate class you occupy, but also your monthly premiums and even your ability to obtain life insurance at all. 

Here is a look at how pre-existing conditions can affect your life insurance. 

Pre-existing conditions may not affect your ability to obtain life insurance. 

The impact of pre-existing conditions on your ability to obtain life insurance depends in large part on what that condition is. Many pre-existing conditions will not significantly impact your premiums or eligibility. 

In addition, well-controlled pre-existing conditions may have a minimal, or smaller, impact that uncontrolled conditions. For example, you may pay lower premiums if your cancer is in remission or if your diabetes is well-controlled. 

Pre-existing conditions can also raise monthly premiums. 

However, certain pre-existing conditions can make your life insurance more expensive, because your rate class, and your premiums, depend upon the likelihood that you will die while the life insurance policy is active. 

Pre-existing conditions that the insurance company believes impact your expected life span will place you into a less favorable rate class that comes with higher premiums. 

That means that the same type of life insurance, at the same coverage, could cost you more than it would cost someone of the same gender and age who has no pre-existing conditions. 

Conditions that have the biggest impact on your life insurance rates are the following: 

  • Asthma
  • Obesity
  • Cancer
  • Anxiety
  • High cholesterol
  • Heart disease
  • Depression
  • Diabetes
  • HIVE
  • Epilepsy
  • Gastroesophageal reflux disease, or GERD
  • High blood pressure

Pre-existing conditions can exclude you from life insurance.

In some cases, pre-existing conditions can make it difficult for you to obtain life insurance at all. Instead of simply making a policy more expensive, your condition could lead a carrier to deny your application for insurance. 

In these cases, you will need to be patient and persistent in finding a life insurance carrier who will work with your pre-existing condition. 

You may need to consult several carriers before finding one who is sympathetic toward your condition or who has created specific life insurance products for individuals with your pre-existing condition. 

Pre-existing conditions may change your insurance options. 

If you have a pre-existing condition, you need not despair about obtaining life insurance. If you do not qualify for traditional life insurance options, you may be able to find an insurance agency that has specific life insurance products for people with your condition. 

For example, certain carriers have policies in place for individuals who suffer from HIV, diabetes, and cancer. These policies may not always be the least expensive options on the market, but they do allow you to obtain life insurance you might not otherwise be able to get. 

In addition, you may find that your pre-existing condition leaves you with the option of adopting alternative types of life insurance. 

For example, guaranteed life insurance policies allow you to purchase insurance within your age group, without needing to submit any health information. 

Because you do not undergo an exam or submit a health assessment, the premiums for these policies is much higher than for more traditional life insurance policies. However, they do put life insurance within reach. 

How can you buy life insurance with a pre-existing condition? 

If you do have a pre-existing condition that might affect your life insurance premiums, you will need to carefully research your options to find the right policy for your needs. 

In order to find life insurance that is both affordable and accommodating toward your pre-existing condition, you may want to consult with an independent life insurance agency such as Generations Insurance Partners

Generations is committed to finding the best life insurance policy for you by shopping around the dozens of life insurance carriers with whom we partner. 

Even if you have had difficulty finding life insurance coverage in the past due to your pre-existing condition, we can help you find a solution that works. Let us show you how we can make life insurance possible for you!