If you have a pre-existing condition, life insurance may feel out of reach. Whether that’s because of its perceived cost, the likelihood of a medical exam prior to approval or something else, it can all feel quite complicated.
Let’s simplify things: Life insurance is for everyone. The process may just look a little different.
What Is Considered a Pre-Existing Condition?
Medical diagnoses are considered pre-existing if it’s a condition you knew about, were diagnosed with or had treatment for prior to applying for life insurance. Common pre-existing conditions include heart disease, cancer, asthma and high cholesterol.
Qualifying for Life Insurance With a Pre-Existing Condition
Just having a pre-existing condition does not automatically disqualify you from receiving life insurance. There are many policies available to folks with pre-existing conditions, including term and whole life insurance, but premiums may be higher as health history is a factor in how insurers calculate rates. The additional risk that could accompany insuring someone with a pre-existing condition will be considered, and you may be asked to take a medical exam.
Life Insurance 101
Your guide to understanding life insurance and why it's important to consider for your future.
Also available in Spanish!The Life Insurance Medical Exam
Once a life insurance company reviews your medical history, your assigned representative may decide to pursue a thorough medical examination before coming to a conclusion on your eligibility and, ultimately, deciding on your premium rate. Because it is requested by the provider, the exam is performed cost-free by a qualified medical professional. Depending on your provider and its associated examiner, this process could take place at a designated office location or even in the comfort of your own home.
The exam itself involves a fair balance of reviewing previously submitted information, such as your medical history, and a standard physical evaluation. After your vitals are taken, you’ll be asked to provide a urine sample and undergo some basic blood work to check your cholesterol, glucose and other routine health measurements.
Ordinarily, the entire exam can be completed in just 30 minutes or so but will involve additional testing for older applicants. Pending your test results and in-depth review by the provider’s representative over the subsequent few months, the insurance company will decide whether it is willing to accept your application and provide the requested coverage.
Here are a few tips to consider as you prepare for your exam:
- Avoid caffeine: Coffee and other caffeinated beverages can affect your heart rate, anxiety level and blood pressure. So, it’s best to skip that morning cup of joe.
- Don’t exercise: You might be tempted to schedule a workout the morning of your exam to convey your fitness level, but this can actually negatively skew the results. Skip a day.
- Drink plenty of water: It’s important to stay hydrated prior to your exam, since this lubricates your body’s systems and provides optimal performance of your organs.
- Avoid smoking and drinking: Regardless of how often you drink or smoke, indulging in either in the hours prior to your exam will only hurt your results.
- Fast if necessary: They say you are what you eat, and when it comes to your medical exam, it’s somewhat true, especially since some foods can interfere with your vitals.
- Get a good night’s sleep: Your body is at its best when you’re rested and therefore less anxious. Schedule your exam in the morning and get to it while you’re feeling fresh.
Life insurance plans that do not require a medical exam are available, including the guaranteed issue whole life and rapid issue whole life policies offered through AAA Life Insurance.
Other Considerations
If an insurance provider considers you to be a particularly high risk, you may be classified as a special case.
While some providers may simply deny coverage, others may allot a small percentage of their resources to high-risk applicants. Conversely, some companies will specialize in high-risk cases.
Essentially, it depends on the providers — many of which have their own classification systems — and the details of each applicant’s case. This might result in a lower-than-average health rating or higher premiums.
Here are a few of the most common kinds of special cases.
Smoking
Smoker life insurance involves its share of complications due to the health risks the habit poses. Although some providers may offer different risk classes due to the frequency or type of smoking involved, many others will not differentiate between nicotine-based cigarettes, chewing tobacco and electronic cigarettes.
The Elderly
Because of their advanced age, elderly people (the definition of which may vary from provider to provider) are often considered special life insurance cases. Though it may seem unfair to the policyholder, it’s easy to understand from a business standpoint why this is the case, as the insurance company has a far greater chance of having to yield the death benefit in the near future. For this reason, try to invest in life insurance as young as possible.
Be sure to explore all your options before making any decisions regarding your pre-existing condition and life insurance. An experienced agent with AAA can help you to find the best coverage options available to you at the most reasonable rate.
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Based in Rhode Island, Sarah has been a copywriter and content producer with AAA Northeast since 2021. When she’s not scouring the best spots for all things food and drink or whipping up her own versions of tasty meals, you can often find her in the garden, planning her next trip or sipping on (another) hot coffee.
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