Life Insurance with Health Issues: Your Complete Options Guide
Pre-existing conditions don't disqualify you from life insurance, but the wrong application could triple your rates.
Table of Contents
Pre-Existing Conditions Overview
Having a pre-existing medical condition doesn't automatically disqualify you from life insurance. However, it does require a strategic approach to get approved at the best possible rates. Understanding your options can mean the difference between getting affordable coverage and paying triple the standard rates.
Good News: Most Conditions Are Insurable
Insurance companies are in the business of providing coverage, not denying it. With proper application strategy and the right carrier, most health conditions can be covered at reasonable rates.
How Insurance Companies Evaluate Risk
Severity
How serious is the condition and current control level?
Timeline
When was diagnosis? How long since treatment?
Management
How well is the condition controlled and monitored?
Common Conditions and Coverage Options
Diabetes (Type 1 & Type 2)
Well-Controlled Diabetes:
- • Standard to Table 2 rates possible
- • A1C under 8.0% preferred
- • No recent complications
- • Regular physician monitoring
Poorly Controlled:
- • Table 4-6 ratings common
- • May require guaranteed issue
- • Focus on carriers that specialize
- • Consider simplified issue first
Heart Disease & High Blood Pressure
Mild Hypertension:
- • Standard Plus rates achievable
- • BP under 140/90 with medication
- • No organ damage
- • Stable medication regimen
Heart Attack History:
- • 2+ years post-event preferred
- • Table 2-4 ratings typical
- • Good recovery with no complications
- • Regular cardiologist follow-up
Cancer History
Early Stage, Cured:
- • 2-5 years cancer-free required
- • Stage 0-1 best prognosis for coverage
- • Standard to Table 4 possible
- • Annual screening compliance important
Recent or Advanced:
- • May require 2-year waiting period
- • Guaranteed issue often best option
- • Group life insurance through employer
- • Consider survivorship policies
Application Strategies That Work
The way you apply for life insurance with pre-existing conditions can significantly impact your approval odds and premium rates. Here are the strategies that experienced brokers use to get clients approved.
DO These Things
- • Work with an experienced broker who knows carrier appetites
- • Be completely honest about all health conditions
- • Gather all medical records before applying
- • Target carriers that are favorable to your condition
- • Consider applying to multiple carriers simultaneously
- • Time your application strategically (after treatment, recovery)
AVOID These Mistakes
- • Applying to carriers known to decline your condition
- • Hiding or minimizing health issues
- • Applying too soon after diagnosis or treatment
- • Using online applications for complex cases
- • Accepting the first declination without exploring options
- • Forgetting to mention medications you take
The "Carrier Shopping" Strategy
Different insurance carriers have different "appetites" for specific health conditions. What one carrier declines, another might approve at standard rates.
Guaranteed Issue vs Simplified Issue
When traditional underwriting isn't possible, these alternative products can provide coverage for people with serious health conditions.
| Feature | Guaranteed Issue | Simplified Issue | Fully Underwritten |
|---|---|---|---|
| Medical Questions | None | 5-10 Questions | Extensive |
| Medical Exam | Not Required | Not Required | Usually Required |
| Coverage Limits | $25,000 max | $300,000 max | $10M+ |
| Premium Cost | Highest | Moderate | Lowest |
When to Consider Each Option
- • Terminal illness
- • Multiple serious conditions
- • Recent hospitalizations
- • Age 50+ with health issues
- • Well-controlled diabetes
- • Mild heart conditions
- • Depression/anxiety
- • Want quick approval
- • Minor health issues
- • Need large coverage amounts
- • Want best possible rates
- • Have time for process
Real Client Case Studies
Case Study 1: Type 2 Diabetes Success
Client Profile:
- • Male, age 52
- • Type 2 diabetes for 8 years
- • A1C: 7.2% (well controlled)
- • No complications
- • Needed $500,000 coverage
Results:
- • First carrier: Declined
- • Second carrier: Table 4 rating
- • Third carrier: Standard Plus rate
- • Saved $180/month vs Table 4
- • Total savings: $64,800 over 30 years
Strategy: Targeted carrier known for favorable diabetes underwriting
Case Study 2: Breast Cancer Survivor
Client Profile:
- • Female, age 45
- • Stage 1 breast cancer
- • 3 years cancer-free
- • Lumpectomy, no chemo needed
- • Annual mammograms clear
Results:
- • Applied at 3-year mark
- • Approved at Table 2 rating
- • $750,000 coverage secured
- • Can convert to Standard after 5 years
- • Peace of mind for family
Strategy: Waited for optimal timing and chose carrier with good cancer survivor rates
Why Timing Matters
When you apply for life insurance after a health event can significantly impact your approval odds and premium rates. Understanding optimal timing can save you thousands of dollars.
Wait for Better Rates
Heart Attack
Wait 12-24 months post-event for best rates
Cancer Treatment
Wait 2-5 years depending on type and stage
Surgery Recovery
Wait 3-6 months post-surgery
Apply Now Despite Conditions
Progressive Conditions
MS, Parkinson's, ALS - apply while stable
Family History Concerns
Lock in rates before symptoms develop
Age Considerations
Rates increase with age - don't wait too long
Frequently Asked Questions
What happens if I'm declined by one company?
A declination from one carrier doesn't mean you can't get coverage elsewhere. Different insurance companies have different underwriting guidelines. An experienced broker can help you find carriers that are more favorable to your specific condition.
Should I mention minor health issues?
Yes, absolutely. Insurance applications require complete honesty. Failing to disclose health conditions, even minor ones, can void your policy when your beneficiaries need it most. Most minor conditions don't significantly impact rates anyway.
Can I get life insurance if I'm currently undergoing treatment?
It depends on the condition and treatment. Some treatments require waiting until completion, while others allow for coverage during treatment. Cancer chemotherapy typically requires waiting, while physical therapy for an injury usually doesn't affect eligibility.
Get Expert Help with Your Application
Don't let health conditions prevent you from protecting your family. I specialize in helping people with pre-existing conditions get approved for life insurance at the best possible rates. Learn more about our advisory process.
Zach Bradford
Licensed Florida Insurance Broker (W347851) specializing in life insurance for people with health conditions. Helping families secure coverage despite medical challenges since 2016.