When it comes to pre-existing conditions, you still have options to purchase the insurance coverage you want. Each person’s individual situation will be taken into consideration when they apply for life insurance. In addition, there are some types of life insurance policies that will not ask you to answer questions about your health, meaning you don’t have to disclose if you have a pre-existing condition.
What is a Pre-Existing Condition?
Millions of Americans have a pre-existing condition. The U.S. Department of Health and Human Services says a pre-existing condition is a health problem you had before you applied for coverage under some type of insurance, including life insurance.
Common pre-existing conditions can include, but are not limited to:
- Depression or anxiety: Each life insurance company will have different ways of determining your eligibility if you have depression, anxiety, or another mental health condition. As with many pre-existing conditions, treatment is vital if you want to get the best life insurance rate possible.
- HIV or AIDS: It may be difficult, but not impossible, to find life insurance if you are living with HIV or AIDS. If you are living with this condition, life insurance companies will sometimes require that you show you’ve received effective treatment.
- Cancer: If you have a history of cancer, you may still be able to get a traditional whole life insurance policy. However, if you have cancer now, your options will be more limited. You may still qualify for a guaranteed issue life insurance policy.
- Diabetes: Controlling your diabetes is the key to obtaining a good rate if you have this chronic condition.
- Heart disease: Securing life insurance if you have a heart condition will depend on your individual circumstances and how your condition is managed and its severity.
- High blood pressure: The key to qualifying for life insurance if you have high blood pressure is to ensure it’s well managed. Uncontrolled high blood pressure can lead to serious diseases, such as heart disease, heart attacks, and strokes.
- Obesity: Life insurance companies usually have a height and weight chart they refer to, which lists the maximum weight you can be to qualify for life insurance. Unless you are extremely obese, most people will still qualify for life insurance.
Having a pre-existing condition makes you more likely to develop a serious illness or infection, which is why it can be more difficult or more expensive to obtain life insurance if you have one.
How Do Pre-Existing Conditions Affect the Cost of Life Insurance?
Though you cannot be denied health insurance for pre-existing conditions, the same is not true of life insurance policies. If you have a pre-existing condition, it might affect whether you can qualify for a life insurance policy. It might also affect the cost of your life insurance policy.
When you apply for life insurance, you may be required to answer a health questionnaire. This means you will likely have to tell the life insurance company about your pre-existing condition. Sometimes you must also have a medical exam to determine the status of your health or pre-existing conditions.
If it is determined you do have a pre-existing condition, it won’t necessarily disqualify you from coverage. Applications are evaluated on a case-by-case basis. However, people with pre-existing conditions may pay a higher premium for their life insurance coverage.
If I Have a Pre-Existing Condition, What Are My Options?
You can still apply for life insurance if you have a pre-existing condition. Talk to a professional life insurance agent about your options. It may still be beneficial to apply for a regular whole life insurance policy that requires you to answer health questions and have a medical exam. It won’t hurt to try to get the best rate possible on your premium.
Americo Senior Life Can Help Get You Insured
Even if you have a pre-existing condition, Americo Senior Life has options for you. Our team of professionals can look at your unique situation and help you find the coverage you need. With a policy from Americo, your rates are locked in for the life of the policy. Having a policy with Americo means your family won’t have to worry about how to cover your final expenses.
Give your family the peace of mind of permanent protection with a whole life insurance policy. Our application process is simple and easy. Get pre-approved in minutes by applying online today.