We’ve all heard a lot of talk these days about pre-existing medical conditions for health coverage, and at first glance, life insurance policies are no different.
One of the first considerations an insurance provider looks at is how “high risk” you are.
That doesn’t mean however that if you are in a high risk bracket you’ll be denied a policy.
The only real difference is if you have a clean bill of health or not.
If you do have pre-existing conditions, it’s best to work with a high risk life insurance agent, also called an impaired risk specialist.
In this post, we’ll look at some of the issues related to health risk factors when it comes to shopping for and selecting the right life insurance policy.
High Risk Life Insurance With A Medical Condition
Since its inception, BestLifeQuote.com has been focused on helping people in all walks of life to get the right life insurance policies for their needs.
We have been successful in assisting scores of clients considered, “high risk” and with “pre-existing medical conditions” get approved for life insurance, and do so on favorable terms.
Many well-known and well-publicized conditions and ailments that may put you into a high-risk category do not necessarily disqualify you from getting insured.
Far from it, in fact.
But there’s no question that suffering from a serious condition you need to consult with an independent high-risk broker who can properly represent you and your interests, and get you the widest possible spectrum of quotes from leading insurers, as well as be knowledgeable as far as which companies are more likely to approve you for coverage.
The fact is that clients with a wide range of common health or neurological conditions including the following do have a shot at getting a plan issued:
- Anemia
- Asthma
- Arthritis
- Barrett’s Esophagus
- Cancer
- Chronic Ailments
- Chronic Back Pain
- COPD
- Crohn’s Disease
- Criminal Record
- DUI
- Depression
- Diabetes (Type 1 and Type 2)
- Elevated Liver Function
- Elevated PSA Levels
- Foreign Nationals
- Gout
- Heart Disease
- Hepatitis B
- Hepatitis C
- High Blood Pressure
- High Cholesterol
- HIV/AIDS
- Long QT Syndrome
- Lupus
- Multiple Sclerosis
- Obesity
- Polycythemia
- PTSD
- Sleep Apnea
- Sjogren’s Syndrome
- Stroke
- Thrombocytopenia
- Weight Loss Surgery
Other Factors:
Personal Health and Sub-Standard “Table” Ratings
While most generally healthy individuals fall into the categories of “Preferred” or “Standard”, those who have pre-existing health conditions and are considered to be a higher risk and as such will most likely receive a “Sub-Standard Rating”.
These are also sometimes referred to as “Table Ratings” which involve a fairly complex scoring system combining a complex set of letters or numbers.
This is not something you should concern yourself with. But generally, the lower the number, the lower the price of the policy.
Have You Ever Been Declined?
If you were ever declined an insurance policy in the past, this doesn’t mean that you will be declined again.
Perhaps it was not the right insurance company, or the representative you were working with didn’t have experience in helping people with pre-existing conditions get approved for coverage.
The point here is, even if you were ever refused a policy, it probably had more to do with the company or people you were dealing with, than the reality of the industry.
Don’t take the easy way out; the policy for you is available, regardless of your situation or current state of health, is to work through an independent broker.
Independent brokers provide a big advantage in that they can give you access to the largest selection of companies and policies, and put the odds of getting insured and finding the right plan very much in your favor.
Part of the challenge for your average insurance policy buyer is the fact that Insurance companies differ on the type of risk they are willing to insure. But that doesn’t mean another company won’t insure you and possibly even on better terms.
BestLifeQuote.com specializes in “high risk” cases and boasts a long and successful track record working with clients with pre-existing medical conditions. Casting the net as widely as possible, and helping you sift through the catch, we bring your terms to over 30 life insurance companies nationwide.
In the process, we look for the right match for you and your particular situation. Every insurance company is different, and it’s good to find the right fit. We will find you the company and the policy that best suits you, your family and your needs.
If for whatever reason you are further declined, there remain plenty of options to get you and your family insured including policies under the categories “Guaranteed Acceptance” or “Graded Benefit Life Insurance“.
No Medical Exam or Guaranteed Acceptance Insurance Policies
If a carrier has not approved an application before because of your health, there are still several options to get insurance coverage.
Nobody should have to go without the insurance protection that their family needs. One option for coverage is to purchase a no medical exam plan. These plans will allow you to get insurance coverage forgoing a med exam as part of your application.
There are several advantages to these plans to be mindful of as you search for a life insurance policy.
The biggest advantage is that anyone can purchase a no medical exam plan or a guaranteed issue policy, in spite of health or any pre-existing conditions. No family should be left with debts and bills, and these plans can give you peace knowing your survivors can pay off any final expenses.
Another benefit of these plans is the approval period is way faster than you would be approved without a traditional insurance plan.
With traditional life insurance the waiting period could be months long, but with no medical exams, you receive insurance protection in days. If you’re wanting to be approved as quickly as possible, a no exam policy is the best option for you.
There are several pitfalls to these policies to understand, and the biggest one is monthly price compared to other life insurance options.
When the company fully underwrites a policy it gives the team a clearer understand of your health situation. Without the medical exam, the carrier is taking a larger risk to give you life insurance, which is going to translate into higher monthly premiums for your plan.
Limitation of face value is another reason that these no medical exam plans may not be the choice for you. If you need more coverage than this, you’ll have to buy two policies or look at a traditional plan.
While no exam and guaranteed issue plans are a great option for coverage, you should always consider these plans a last resort for life insurance. Even if you’ve been declined previously, we can help you be approved for a traditional term insurance policy.
Every company has various medical underwriting requirements, which means that every company is going to view your application differently.
It’s important that you find the perfect company for you. It could decide whether your application is declined for life insurance or getting an affordable plan.
Consider Term Life Insurance for Impaired Risks
In our experience, the way you approach searching out a quote or policy can play a decisive role in getting the right plan or policy.
For example, there are certain cases when we recommend a Term Life Policy instead of a Permanent Life Policy as it may help widen the options among firms competing for your business and keep costs low for those considered high risk.
Working with over 30 life insurance companies, and many known for their handling of “High Risk” cases of people with pre-existing conditions, such as:
Among others, BestLifeQuote will help you get the best selection of options, and choose just the right policy for you.
Nobody wants to think about dying. It’s a morbid thought, but it’s something that you can’t avoid, and not planning for it is a risky decision.
Would it be difficult for your survivors to live the same lifestyle they’re accustomed to if you were to pass away?
Accidents by definition are unplanned. So start formulating a plan now to protect your loved ones for the future.
Being high-risk is okay, but it also means you should talk to experienced brokers who understand coverage options in the insurance space.
Our agents have lots of experience working with high-risk applicants, such as smokers and our research proves we will fight for you to get approved for coverage.
Don’t waste your time on the phone calling dozens of companies, let us do all of that work for you.
To receive a custom quote fill out the form on this page or call us at 1-888-552-6159.
Brendan McLaughlin says
I am a 34 year old male with some chronic low back pain, mild depression/anxiety, etc.. I am 5’6″, 195 lbs, walk 5 miles a day and am taking several medications for pain, cholesterol, and blood pressure and a couple others. I am a health insurance agent but know little about life. About two years ago I worked with a broker who I thought specialized in high risk but I am not certain. I filled out one or two policies and applied at his direction and was rejected both times. Does this mean I will never be able to get life insurance? I’m looking for a $600,000 policy for myself and one for my wife. We are wanting to start a family soon – my wife is graduating with her PhD this winter in Psychology. I thought I would reach out just to get your thoughts.
Doug Mitchell says
Hi Brendan,
I just sent you an email. Could you give me a call to discuss at 1-800-712-8519?
Thanks!
Elaine says
Was diagnosed with DCIS cancer in 2013, no chemo no radiation just surgery and no follow up medication required. I am looking for insurance but got denied in the past. I don’t think that they asked enough questions to determined what stage or anything, I was just denied because I checked Cancer on the application. Thank you.
Doug Mitchell says
Elaine,
That can happen. Why don’t you call us so that we can get the details and shop around to all of our carriers? You can call us 888-552-6159.
Crystal says
I have a friend who I am assisting with finding a life insurance policy with the recent diagnosis of serosis of the liver. Can you please help us
Doug Mitchell says
Yes – you can call us at 888-552-6159.
Renee Mullen says
I’m looking for life insurance for my fiance who is 45 yrs old, cancer patient.
CHARLES P ENGLISH says
I AM 64 AND MY WIFE IS 55. NEITHER HAS LIFE INSURANCE AND BOTH HAVE TYPE 2 DIABETES. CAN YOU HELP STEER US TOWARD SOME AFFORDABLE INSURANCE?
Sandra wasinger says
Looking for coverage for my spouse who is 76 and had stent placed in Dec 2016 and colon cancer more than 10 years ago. He had a term policy that expires in a few days. Any options available ?
Cindy says
I have a 6 year old grandson who has a brain injury, cerebral palsy, non-verbal, seizures, wheelchair bound. Gerber denied him. He is doing well. How can I get life insurance for him?
charlotte says
I am an agent…we offer Life Insurance but not to high risk individuals….I am trying to help a client find a policy…he is overweight and has type 2 diabetes.
Liran says
Hi Charlotte,
I just emailed you with some questions relating to this. Thank you
Jamala says
I am looking for insurance for my father who is 70, diabetic and has dementia. Is this possible?
Liran says
There are some options available – I’ll email you to discuss.
David says
I am looking for life insurance for my wife who is 35, 5’4″, 300 lbs, but in otherwise good health (no high blood pressure, no diabetes, etc.). What options would you be able to offer? How much coverage could she qualify for?
Liran says
Hi David,
I will email you now with some information.
Williams says
I am looking for life insurance for my dad who has diabetes, high BP, and over weight. He’s been denied for insurance because his sugar levels are high. Any ways to get him some insurance
Liran says
Hi Williams,
I just emailed you with some questions regarding your dad, so that I can provide you with some options.
Diana says
My husband is 58 and has diabetes, Afib. and sleep apnea although he now uses a Cpap. He has some vision loss and is overweight. Any chance of getting some insurance. Haven’t even tried for years.
Liran says
Hi Diana,
I am sending you an email now with a few questions so that I can provide you with options. Thanks
robert says
My mom is 73 and has copd and emphasima i am looking to get her life insurance that she will be covered from day 1 do you think that you could help
Liran says
Hi Robert,
I just sent you an email. I think the only option available in this specific case is a policy with an initial 2 year waiting period.
Jessica says
I am in the same boat. Looking for my mother whom has severe copd. I can’t seem to find anyone that will cover her. Is it hopeless? She knows I’m looking. And has no problem speaking to someone about it but she keeps being declined.
Liran says
Hi Jessica,
It is possible that we can get her covered. I am sending you an email now.
Jacquelyn says
I’m looking for an independent life insurance agent that has experience in life insurance for someone with COPD. It’s for my mother. She knows I’m looking into it. Just need a good agent to help us through the process.
Liran says
Hi Jacquelyn,
I have sent you an email with more information.