Can You Get Life Insurance with a Medical Condition?

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Applying for life insurance might include some medical questions or a medical exam. If you have a pre-existing medical condition, you might be worried about trying to get a life insurance policy. It can be helpful to understand what insurance providers are looking for before your cover is confirmed.

A pre-existing medical condition refers to an illness, injury or disease that you either had in the past or currently have, before you take out a life insurance policy. It can include a broad range, such as a previous stroke, currently having diabetes or anxiety and depression. Each provider will have their own list of ailments that are considered pre-existing medical conditions.

Being informed and prepared is the best way to get life insurance with a medical condition. Here we take a look at the information you need to know.

What information does an insurance provider need?

When you apply for life insurance, the provider will need some basic information from you before offering you cover. Typically this will include your age, weight, smoking status, medical history, occupation and alcohol consumption. If you are in generally good health, you will likely be offered life insurance. If not, you may be asked to undergo a medical exam first.

A medical exam usually involves weight and height measurements, blood pressure checks and testing for blood, glucose and protein levels.

Getting your application accepted

It’s normal for your policy to undergo manual underwriting if you have a pre-existing medical condition. The severity of your condition and whether you’re on any medication or treatment will be taken into account to make sure the policy is correctly tailored to you.

Once your policy has been accepted, it will cover you as standard. Your life insurance policy will cover you for the same causes of death as a standard applicant. However, it’s important to remember that you monthly premiums might be slightly more costly.

It’s important that you are honest during your application. If you don’t tell your provider about your health during your application, it can affect any future claims. You should tell your provider information including the name of your condition, the date you were diagnosed, severity of your symptoms, medication and how it affects your daily life.

What life insurance can you get with a medical condition?

In most cases, you can get life insurance with a medical condition, but it can be more expensive and complex than standard cover. It can vary widely depending on the insurance provider, so it’s important to discuss your situation. In many instances, each application will be considered on a case-by-case basis.

You will usually be seen as a higher risk by insurance providers, but not all providers will take the same view.

In some cases, policies might have exclusions. This means your policy will exclude your pre-existing medical condition and will only pay out if your cause of death isn’t related to the condition. It can be particularly useful if you are struggling to get cover. You should be very careful to check what is and isn’t covered in your policy first.

The pandemic has made it more difficult for those with pre-existing medical conditions to get life insurance, but it’s not impossible. If you’ve had a heart attack, stroke or cancer diagnosis, you shouldn’t be put off applying for life insurance. It can be helpful to speak to an insurance broker to get some guidance on getting the right life insurance for your needs, and at the right price.