Finding the right life insurance with medical conditions can be tricky, so that’s why we've put together this short guide for people with a pre-existing medical condition to help answer a few of the most common questions.
So let’s jump straight in, can I get life insurance with a pre-existing medical condition?
In short, the answer is yes, in many cases you can, however a pre-existing medical issue, can affect the premiums you pay or the type of cover available. This is because of the number of insurance providers who are willing to cover you could be limited, as well as the risk posed by the condition.
Don't be deterred though! When you use QuoteSearch, you can compare quotes online from leading providers. If you do have a pre-existing medical condition, we encourage you to answer the medical questions honestly so the quote you’re provided with, you will be eligible for.
What counts as a pre-existing medical condition?
Insurance providers normally have a list of medical and health questions that they ask you about when you apply for cover. If the person being insured has experienced any of these it should be noted when applying for the policy.
As mentioned above it's important to be upfront with your medical history when taking out a policy because a provider could refuse to pay out for a claim if you withheld information about a prior illness or condition when applying.
Unsure what could be considered a pre-existing medical condition?
In summary, a pre-existing medical condition is a condition that has existed prior to taking out a life insurance policy or a condition that you currently have when applying for the policy.
Here are a few medical conditions that you may be asked about:
- Asthma
- Cancer
- Diabetes
- Epilepsy
- Heart disease, including heart attacks or strokes
- Obesity
- High blood pressure
- High cholesterol
- Anxiety
- Depression
- Neurological conditions, such as cerebral palsy
- Kidney illnesses
The conditions considered as a pre-existing can vary between the different providers. This is why QuoteSearch is a great solution when searching for life insurance quotes. We compare prices from leading providers so you can find the right policy for your circumstances.
Why life insurance is important for those with pre-existing medical conditions
Depending on the severity of the medical condition, this could be one of the main driving factors of why someone is looking to take out life insurance.
With life insurance providing a cash lump sum pay out after you pass, it is a way of helping to secure the financial future of your loved ones.
What is the best life insurance policy type if you have a pre-existing medical condition?
Depending on your circumstances, there could be a number of different policies that could be suitable for you. Ideally, the best life insurance policy will be one that provides you with the cover you need and have an affordable premium.
Each policy type will be affected by your condition. Therefore, it is important to compare quotes and if you have any questions, speak to an expert who can guide you through your options.
What are the most common life insurance policies
Here are some of the most common life insurance policies which are linked to short articles we’ve put together that gives an overview on what the policy is and what it covers:
- What is decreasing term life insurance
- What is level term life insurance
- What is over 50s life insurance
- What is critical illness cover
How much does life insurance cost with a pre-existing medical condition?
It’s likely that someone with a pre-existing medical condition will pay a higher premium than someone without. However, this doesn’t mean that it’s going to be unaffordable.
Depending on the medical condition and it’s severity, can determine how your premiums will be affected. Some conditions may only have a small influence on the monthly cost (some may not even impact the cost at all), whereas others may have more of an impact which would cause premiums to be more expensive.
Different providers have different thresholds for increasing premiums so that is why we encourage you to compare quotes to find the best policy suited to your needs and at the right price.
What are the next steps?
Whether you have a pre-existing medical condition or not, we’re here to help you get online quotes for life insurance from industry leading providers. Get your free, online quotes today and if you have any questions, we can get you in touch with an expert so you can discuss your circumstances. Get started today.