Who this applies to
People in these situations often qualify for at least one type of policy.
- Diabetes, heart disease, COPD or kidney disease
- A history of cancer, stroke or heart attack
- Significant weight or blood pressure problems
- Several prescriptions or recent hospital stays
- A previous decline from a life insurer
The three levels of coverage
Agents generally work down this list until something fits.
- Fully underwritten: the most coverage for the money. Some insurers accept well-managed conditions at a higher price.
- Simplified issue: health questions but no exam. Smaller amounts, and you can still be declined.
- Guaranteed issue: no health questions. Small amounts, a higher price, and a waiting period of two or three years before the full benefit is payable.
Why the insurer matters
Insurers do not rate conditions the same way. One may decline a diagnosis that another accepts. An agent who works with several insurers can match your history to the ones most likely to say yes, which is the main reason to talk it through before applying anywhere.
Be straight on the application
Insurers check prescription and medical records. Leaving something out can get a claim reduced or denied during the first two years, which defeats the purpose of buying the policy. Accurate answers protect your family.
Common questions
Can I get life insurance if I have been declined?
Often, yes. A decline from one insurer does not bind the others, and guaranteed issue policies do not ask health questions at all.
What is the catch with guaranteed issue?
If you die of illness during the waiting period, usually the first two or three years, your beneficiary typically receives the premiums you paid plus interest instead of the full benefit.
Will improving my health lower the price later?
It can. Some insurers will reconsider your rate after sustained improvement, and you can always apply for a new policy when your health is better.
This page is general information, not insurance, legal or tax advice. Policy terms, eligibility and pricing vary by insurer and state. A licensed insurance agent can explain the specific products they offer.