Life Insurance with a Pre-Existing Condition (2024)

FAQs

Life Insurance with a Pre-Existing Condition? ›

Requirements vary by insurer, but insurers often accept preexisting conditions that are moderate risk, such as diabetes. Each insurance company has its own health requirements and conditions it is willing to insure. So, if you have a preexisting condition, you should consult an independent insurance agent.

Due to the added risk health problems create for insurers, some pre-existing conditions can raise your premium or even disqualify you entirely from certain types of life insurance. A few common examples of pre-existing conditions include high blood pressure, diabetes, cancer, and asthma.

In many cases, you can still get critical illness cover if you have an existing medical condition, although that condition may not be covered by your policy. Most policies that consider your medical history will exclude causes of death related to an existing medical condition.

Insurers then use your permission to snoop through old records to look for anything that they might be able to use against you. If you have a pre-existing condition, they'll try to deny your claim on the grounds that you were already injured and their insured had nothing to do with it.

Under the Affordable Care Act, health insurance companies can't refuse to cover you or charge you more just because you have a “pre-existing condition” — that is, a health problem you had before the date that new health coverage starts.

They can include engaging in risky hobbies and behaviors like skydiving; having a history of DUIs or speeding tickets; having a dangerous job like roofing; having a criminal record or a less than ideal financial history; being a smoker; and failing a drug test.

A health problem, like asthma, diabetes, or cancer, you had before the date that new health coverage starts. Insurance companies can't refuse to cover treatment for your pre-existing condition or charge you more.

In the health insurance world, a pre-existing condition is any injury, sickness or condition that exists before the date an insurance policy takes effect. Examples include asthma, diabetes, anxiety, depression, high blood pressure, high cholesterol and so on.

Yes. The insurance company will look for undisclosed medical conditions and also investigate the facts the insured set forth in the application for life insurance.

Guaranteed issue life insurance exists to help those with serious health problems find the coverage they need. These plans may help prevent consumers from being turned down based on their medical history.

What happens if you don t disclose pre-existing condition life insurance? ›

One last note of caution: don't try to hide a current medical condition from your agent or the insurance company. If discovered, it could result in cancellation of the policy, as well as any death benefit that might have gone to your family. It might even be prosecuted as insurance fraud.

Under the ACA, alcohol and other drug addiction is not considered a pre-existing condition and treatment for it cannot be denied.

Existing means now. I'm existing. My past self is a pre-existence. Oftentimes, the past time where 'pre-exist' is referring to is subjective but generally we use the word 'pre-exist' to refer to something that existed in a very long time in the past.

Considered a Pre-existing Condition

Even though the kidney stones are painful and you may eventually need medical attention, this condition under this circ*mstance would typically be considered as a pre-existing condition since the policyholder knew about the ailment prior to purchasing their travel insurance policy.

Examples of Pre-existing Conditions

Arthritis. Cancer. Carpal tunnel syndrome. Depression.

Fortunately, most life insurance companies are very quick in expediting death claims. As long as the required paperwork is in order and the policy isn't being contested, a life insurance claim can often be paid within 30 days of the death of the insured.

Therefore, if the policy expires without being used, the money spent on premiums is not recovered. This might seem like a loss, but one of the key points here is to keep in mind that what one gets from the payments is some kind of financial security and safeguarding against the risks of untimely death.