Your Life Insurance Rate & You: Pre-Existing Conditions
Getting an affordable life insurance rate when you have a pre-existing condition is not impossible.
Individuals with a pre-existing condition, or a medical condition that existed before insurance coverage begins, may have a hard time wrapping their heads around that. After all, life insurance rates are determined in large part by overall health and life expectancy – the healthier you are, the longer you are assumed to live, and the longer you are assumed to live, the easier you are to insure. It’s easy to assume that having a pre-existing condition could mean financing a very expensive policy – or worse, could mean a giant, red “DENIED” stamp on the application.
But these 2 scenarios aren’t the only possible outcomes! A person’s unique medical history, the type of coverage they’re seeking, and the financial goals they set for themselves will all factor into the process of finding the right coverage and determining the rate.