You may think life insurance policies are out of your reach if you have a pre-existing condition, but that’s not true. While you may not be approved for all types of health insurance policies, you could still be eligible for some protection since having a pre-existing health condition doesn’t automatically disqualify people from getting life insurance. Read on to know if you will get covered.
What Are Pre-Existing Health Conditions?
A pre-existing condition is a health-related issue you have before you decide to get a life insurance policy. Some pre-existing health conditions are more severe than others and can affect your potential life insurance policy. The following health conditions may raise concerns with your providers:
- Obesity
- Cancer
- Asthma
- Diabetes
- Epilepsy
- HIV/AIDS
- Reflux disease
- Heart disease
- High cholesterol
Insurance providers all have their process, so it’s best to review the terms and conditions of getting life insurance for people with pre-existing health conditions before you go about getting a policy.
How Do Pre-Existing Health Conditions Affect Life Insurance Policy?
Health conditions are considered when getting a life insurance policy, but they are generally not automatic disqualifiers. In most cases, your health conditions are used to determine the amount you will pay for your policy.
Typically, you’re required to complete a health questionnaire and a medical exam. The results give your providers insight into your current health status, your health history, and other things. The data received is used to assess your risk. The higher your health condition, the higher your premiums may be.
As you can see, it’s possible to secure a life insurance policy if you have a pre-existing medical condition. But you may need to undergo medical screenings to determine your premiums.