WEDNESDAY, FEBRUARY 17, 2021
You want to stay healthy, but it’s a fact of life that some things are just beyond your control. We are all at-risk of chronic illnesses, even ones that are easily managed and controlled. However, once one of these issues arise, you cannot escape the fact that your own wellness and mortality risk now face additional challenges. At times, these new challenges could make it harder for you to get life insurance.
Because you have a condition that makes your risk of premature death more likely, then you might be more limited in your ability to get life insurance. However, you are by no means excluded from getting quality benefits, and with the help of your life insurance agent, you’ll be able to find the best policy solution for you.
Why A Pre-Existing Condition Could Limit Life Insurance Eligibility
If you have a condition like kidney disease, high blood pressure, heart disease, diabetes, cancer or similar conditions, then you can’t eliminate the fact that you have a higher risk of death compared to someone without that condition. As a result, there is a higher chance of a life insurer having to pay out a death benefit for you as opposed to that other person. Therefore, they might have to charge you more for your coverage, or they might deem you ineligible to enroll in certain benefits.
However, with the right preparation, you can often still find a policy that suits your needs:
Before Getting Coverage, Do Your Homework
When enrolling in life insurance, you will likely have to undergo a medical exam and provide other information about any pre-existing conditions. Do not try to conceal this information and make sure your insurer understands the full extent of your illness.
Compare Policy Options
Most people with pre-existing conditions quality for life insurance in some shape or form. However, they might not be able to qualify for certain term or whole life plans, simply because the risk to an insurer of providing them with such high benefits is often just too high. Still, though your choice of coverage might be more limited, you can still find quality benefits with the help of your agent.
All the same, it helps to remain vigilant. Individuals with pre-existing conditions often pay comparatively higher rates than their healthier counterparts. Therefore, you’ll want to work with your agent to choose the policy that offers you the best value of coverage and still remains affordable.
The best thing you can do for yourself when looking for life insurance with a pre-existing condition is to put your trust in your dedicated life insurance agent. They are the ones who understand how challenging it might feel to get the right benefits, and who will help you wade through the myriad of policy options on the market to find the perfect solution.
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