It’s entirely possible to get a life insurance policy with a pre-existing medical condition. However, the scope of your health condition and how you’re treating it, along with other factors such as your age, gender, and overall health profile, will largely determine your coverage options and how much you’ll pay for your policy.
Life insurance terms you should know
Beneficiaries: The people you name on your life insurance policy to receive the lump sum of money — also known as the death benefit — when you die.
Cash value: The portion of a permanent life insurance policy’s monetary value that grows tax-deferred over the life of the policy.
Death benefit: The amount of money the life insurance company will pay your beneficiaries when you die.
Face amount: The dollar amount, or death benefit, your beneficiaries receive if you die while your life insurance policy is active.
Insured: The person who is covered by the insurance policy.
Policy: The legal document that includes the terms and conditions of your life insurance contract.
Policyholder: The person who owns an insurance policy. Usually, this is the same person as the insured.
Permanent life insurance: A type of life insurance that lasts for the rest of your life and usually includes a cash value account.
Premium: The amount you pay your insurance company to keep your coverage active. Premiums are typically paid monthly or annually.
Riders: Add-ons to a life insurance policy that provide more robust coverage, sometimes for an extra cost.
Term life insurance: A life insurance policy that lasts for a set number of years before it expires. If you die before the term is up, your beneficiaries receive a death benefit.
Underwriting: The process where an insurance company evaluates the risk of insuring you and determines your final rate.
What is considered a pre-existing condition for insurance purposes?
Any illness or medical diagnosis you received before you purchased life insurance coverage is considered a pre-existing condition. According to a study from the Centers for Medicare and Medicaid Services, 1 in 2 non-elderly Americans has a pre-existing condition that could affect their cost or eligibility for insurance. [1]
Having one of the following pre-existing conditions might influence how much you pay for life insurance, but some conditions might have a higher impact on your premiums than others.
Pre-existing condition | Impact on premiums |
High | |
High | |
High | |
High | |
High | |
High | |
High | |
Low | |
Low | |
Low | |
Low | |
Low | |
Low |
How does having a pre-existing condition affect the cost of life insurance?
How much you pay for life insurance is determined by several factors, but the most important ones are usually your age and your health. Generally speaking, the younger and healthier you are, the lower your rates will be — because your risk of dying while your policy is in effect will be lower.
When you apply for coverage, insurers will assign you a health classification based on your insurance risk, which, in turn, will determine how much you’ll pay for your policy.
Having a pre-existing medical condition will play a key role in the health classification you receive. In general, the higher the potential impact of your condition on your overall health, the lower your health classification will be — and the more expensive your premiums will be, too.
Here are the six health classifications used by most insurers, from the most affordable to the most expensive.
Health classifications, explained
Preferred Plus offers the most affordable premiums. It’s usually assigned to people who have no or one well-controlled or resolved minor health condition and no family history of conditions like heart disease or cancer.
Preferred offers the second-lowest premiums. It’s usually assigned to people with one or two well-controlled or resolved minor conditions and no family history of conditions like heart disease or cancer.
Standard Plus offers the third-lowest premiums. It’s usually assigned to people who may have well-controlled or resolved mild-to-moderate conditions and who may have one death from heart disease or cancer in their immediate family.
Standard offers the fourth-lowest premiums. It’s usually assigned to people with well-controlled or resolved moderate health conditions and who may have more than one immediate family member who died of heart disease or cancer.
Table Ratings are assigned to applicants with more serious health conditions and are divided into 10 sub ratings — table 1 has the lowest premiums and table 10 the highest.
Tobacco/Smoker ratings are assigned to people who currently use tobacco or nicotine products or have in the past 12 months. These ratings can also be applied to frequent marijuana users. There are usually three categories for people in this rating: Preferred, Standard, and Table Ratings.
How do life insurance companies evaluate medical conditions?
There are a few key details that insurers will evaluate for any health concern. Showing improvement in some or all of the below can help lower your rates.
Severity of diagnosis: The more severe your diagnosis, the more you’ll pay for life insurance.
Prescription history: Generally, you’ll get lower rates if you’re prescribed fewer medications and if the prescriptions and dosages have been consistent over time.
Treatment history: The length of your treatment, whether your condition has improved over time, and if you’ve been hospitalized recently all affect your rates.
Length of diagnosis: A longer diagnosis can signal that your condition is not improving or could worsen over the course of your insurance policy.
Related health concerns: Some medical conditions can become worse if you have other illnesses or unhealthy habits. If you’re an otherwise healthy person with high cholesterol, you’ll be considered lower risk than a smoker with high cholesterol.
The specifics of what will earn you a better rate depend on your medical condition and how the factors listed above impact your diagnosis. For example, a person with mild asthma would likely have better coverage options than someone who has mild high blood pressure, based on the risks associated with each condition. Likewise, someone with borderline high blood pressure who doesn’t require daily medication may get more flexibility than someone with borderline high blood pressure and who’s been advised to take medication, but doesn’t abide by their treatment plan.
How do insurance companies know if you have a pre-existing condition?
Insurance companies will do their due diligence to confirm your accurate health status when they review your application. In addition to asking several medical questions on the application, they may require you to complete a medical exam and/or share your medical records for evaluation before your insurance policy can be approved.
Being upfront about any health conditions will help you move through the process faster and improve your chances of getting better rates. Misrepresenting yourself or omitting information on your application could be considered insurance fraud and affect you negatively — you could be offered higher premiums, or be denied coverage altogether.
What life insurance options do you have if you have a pre-existing condition?
Many people with pre-existing conditions will be eligible for term life insurance, which is the most popular and affordable type of traditional life insurance. If your overall health profile keeps you from being eligible for traditional life insurance, permanent policies that don’t have medical requirements for approval, including guaranteed issue life insurance, can be an option for you, as well as group life insurance sponsored by your employer.
Term life insurance is the best fit for most people. Term life lasts only for the time you need it, comes with few tax rules and restrictions, and is generally more affordable than other types of insurance. Level term, the most common type of term coverage, comes with a death benefit and premium payments that stay the same throughout the entire duration of the policy, making it an easy option to manage. In many cases you can still qualify for level term life insurance with a pre-existing condition.
Whole life insurance is a type of permanent life insurance that doesn’t expire and comes with a cash value that earns interest in addition to the death benefit payout. Because of that, it’s usually significantly more expensive than term life. Whole life can be a good option for high-net-worth individuals looking to use life insurance to diversify their investment portfolio or those with long-term financial obligations or coverage needs, like dependents who require lifelong care.
Guaranteed issue life insurance is a type of final expense insurance that doesn’t expire and is aimed at covering end-of-life expenses, such as a funeral or medical bills. You need to be at least 45 years old to qualify. Guaranteed issue is more expensive than traditional life insurance and coverage amounts are lower — up to $25,000.
Group life insurance is a type of coverage that’s often offered by employers and certain organizations to employees as part of a benefits package for free or at a subsidized rate. It offers limited coverage and in most cases you’ll lose your group coverage if you leave the company. However, it rarely has medical requirements so a cancer diagnosis won’t disqualify you from getting group coverage.
What are the best life insurance companies for people with pre-existing conditions?
According to our evidence-based analysis, these are the best life insurance companies for some of the most common pre-existing health conditions.
Methodology
Why you can trust our picks
Our recommendations are based on internal and external expert analysis, as well as our Policygenius Life Insurance Price Index, which uses real-time data from leading life insurance companies to determine pricing trends. When reviewing a life insurance company, our editorial team uses a proprietary scoring rubric with five factors — price, policy details, financial strength, transparency, and customer experience — to assign an unbiased rating between one and five stars. These ratings are also taken into consideration as part of our company recommendations. We don’t get paid for our reviews.
Our reviews and recommendations can help you find a reliable insurer for your family’s financial protection, but the best life insurance company for you depends on multiple factors. A licensed agent at Policygenius can support you during the application process to ensure you get the right coverage for your circumstances at the most competitive price.
Insurer | Policygenius rating | Best for | AM Best rating | |
4.6/5 ★ | Anxiety, heart disease | A | ||
4.9/5 ★ | Anxiety, asthma, depression, diabetes, high blood pressure, smoking | A+ | ||
4.8/5 ★ | High cholesterol | A | ||
4.8/5 ★ | HIV, sleep apnea | A+ | ||
4.1/5 ★ | Stroke | A+ | ||
4.3/5 ★ | Cancer | A | ||
4.6/5 ★ | Epilepsy | A |
2024 Policygenius award winner
Corebridge Financial
4.6
30+ year terms
All 50 states
Why we chose it
With competitive pricing and a range of flexible term periods for its Select-a-Term product, Corebridge is a solid option for many life insurance shoppers. Note: We are currently using AIG’s financial strength ratings until Corebridge has its own rating.
Pros and cons
Pros
Competitive pricing for all ages
Favorable underwriting for people with heart conditions and diabetes
Good for current and recently pregnant people, including people with gestational diabetes
Cons
Not the best for people with mental health conditions, including anxiety and depression
No no-medical-exam term option
Best life insurance company for people with heart disease: Corebridge Financial
2024 Policygenius award winner
Legal & General America
4.9
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Legal & General America, which also does business as Banner Life and William Penn, has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
Best life insurance company for people with asthma: Legal & General America
Best life insurance company for people with anxiety: Legal & General America
Best life insurance company for people with depression: Legal & General America
Best life insurance company for people with diabetes: Legal & General America
Best life insurance company for people with high blood pressure: Legal & General America
Best life insurance company for smokers: Legal & General America
2024 Policygenius award winner
Lincoln Financial
4.8
No-medical-exam option
Why we chose it
Lincoln Financial offers a diverse array of life insurance policies, including competitive no-med and high-net-worth options.
Pros and cons
Pros
Affordable rates
Good for many existing health conditions, including depression, stroke, and heart conditions
Good for marijuana users, including daily users
Cons
Term life not available in New York
Best life insurance company for people with high cholesterol: Lincoln Financial
2024 Policygenius award winner
Pacific Life
4.8
All 50 states
No-medical-exam option
Why we chose it
Pacific Life offers some of the lowest rates for term life insurance across age brackets. It also has the most competitive rates for many health conditions and builds.
Pros and cons
Pros
Extremely affordable across age brackets
Affordable guaranteed universal life insurance option for people who need lifetime coverage
Favorable underwriting for many health conditions
Cons
Traditional term life not available in NY
There are better carriers for active duty military, people who have a history of alcohol abuse, and people who have been through bankruptcy
Best life insurance company for people with HIV: Pacific Life
Best life insurance company for people with sleep apnea: Pacific Life
2024 Policygenius award winner
Prudential
4.1
No-medical-exam option
Why we chose it
With nearly four million policyholders and 150 years to its name, Prudential offers competitive coverage options for seniors, as well as people with some of the most common medical conditions, including asthma, depression, and fibromyalgia.
Pros and cons
Pros
Good for people over 60
More flexible income requirements than some other insurers
Considers applicants with a variety of immigration statuses (visas and green cards)
Cons
Younger applicants will likely find better prices elsewhere
2024 Policygenius award winner
Symetra
4.3
Why we chose it
Symetra offers high coverage amounts, the option to reconsider rates after a year, and term life policies for people with a history of health conditions like cancer.
Pros and cons
Pros
High coverage amounts based on income
Best choice for people with a history of cancer
Good term life option for people over 70
Cons
Term rates are average for the industry, and many people will find their best rates elsewhere
Not available in some states, including CA, FL, DC, DE, ND, and SD
Transamerica
4.6
No-medical-exam option
Why we chose it
Transamerica is one of the oldest and largest life insurance companies, with over 12 million active accounts today. It offers affordable rates for almost every age, and you can even skip the medical exam if you fall under a certain age or coverage amount.
Pros and cons
Pros
Competitive rates for term life insurance
No-medical-exam available for qualifying applicants, including smokers and people between 60 and 70, which is rare
One of the fastest turnaround times in the industry for traditionally underwritten term policies
Cons
Term life not available in New York
Not a good option for people with a history of cancer, alcohol abuse, or asthma
Best life insurance company for people with epilepsy: Transamerica
Every insurance company will evaluate your eligibility and the cost of your policy differently. Comparing quotes from different insurers is the best way to ensure that you find the best option for you. Connecting with a Policygenius agent can help you find the right coverage option for you at the lowest price.
Learn more about the best life insurance companies of 2024
How to buy life insurance if you have a pre-existing condition
If you’re shopping for insurance with a pre-existing health condition, the following steps could help you find better rates.
Work with an independent agent or broker: At Policygenius, our agents have experience finding the best life insurance for people with various health considerations, including pre-existing conditions. They’ll help you find the right options for your unique needs.
Use your medical treatment to your advantage: If you’re actively managing your health conditions, life insurance companies will take that into consideration when they assign you a health classification. Any documentation of effective treatment could help you get lower insurance rates.
Buy life insurance sooner rather than later: On average, life insurance rates increase 4.5% to 9% each year that you delay applying, based on your age alone. Even if you have a pre-existing medical condition, you might still be able to lock in cheaper life insurance rates by applying for coverage today rather than waiting for your condition to change. Many insurers will also reconsider your rate after a year if your health has improved.
Learn more about how to find the best life insurance policy for you
What happens if your pre-existing condition improves or gets worse?
If your condition worsens after you’ve purchased your policy, your rates will remain the same as long as you continue to pay the premiums. The insurance company can’t cancel your policy if your health worsens, which is one of the benefits to securing a policy as soon as you determine you need it.
If your pre-existing condition improves, you can ask your insurer to look at updated medical records and medical exam results to lower your rate. This process is called reconsideration, and many insurance companies will offer it on a case-by-case basis one or two years after your policy’s been active.
You can also apply for life insurance with a different company, and see if your improved health condition will grant you a better rate.
Can your life insurance policy be canceled because of a medical condition?
The insurance company has no right to cancel your insurance policy unless you stop making premium payments.
However, if you lie on your application and the insurance company finds out that you misrepresented yourself during the application process, your policy could be canceled by the insurer. It’s best to be forthcoming with all information, especially your medical conditions, when you apply for life insurance.
Other health concerns that can affect your life insurance
Certain pre-existing conditions and other health-related concerns can affect your life insurance options or costs. A Policygenius expert can help you find the right policy for your needs.
