Many medical conditions can make you ineligible for life insurance. Some of these conditions are easily diagnosed and treated, while others are more serious and may require ongoing care. This guide will discuss life insurance’s top five medical conditions that are not insurable. Remember that each case is unique, so you must speak with an insurance agent to determine if you are eligible for coverage.
Currently, Have Cancer
The first condition on our list is cancer. Cancer is a severe disease that can be difficult to treat. If you have been diagnosed with cancer, you will likely not be eligible for life insurance.
However, you may be eligible for coverage if you are a cancer survivor.
Lou Gherig’s Disease (ALS)
The second condition on our list is ALS (Lou Gherig’s Disease). This is a degenerative disease that affects the nervous system. Those with ALS typically do not live more than five years after diagnosis. For this reason, life insurance companies will not provide coverage for those with ALS.
Unable To Perform Activities Of Daily Living
The third condition on our list is the inability to perform two out of the six activities of daily living (ADL). These activities include eating, dressing, bathing, toileting, transferring (from bed to chair), and continence. If you cannot perform two or more of these activities, you will likely not be eligible for life insurance.
The fourth condition on our list is Cognitive Impairment. This can include conditions such as Alzheimer’s disease, dementia, and stroke. If you have been diagnosed with cognitive impairment, you will likely not be eligible for life insurance.
The fifth and final condition on our list is Dialysis Dependency. This means that you require dialysis treatments to stay alive. If you depend on dialysis, you will likely not be eligible for life insurance.
How To Get Life Insurance When You’re Uninsurable?
If you have been diagnosed with one of the conditions on our list, you may be wondering how to get life insurance.
Guaranteed-issue life insurance is one option for those who are uninsurable. With this type of policy, no medical exams or questions are asked. However, the downside is that these policies typically have much higher premiums and lower death benefits than traditional life insurance policies.
Another option is an annuity with an enhanced death benefit rider. With this policy, you will not be required to take a medical exam. However, the death benefit will be lower than a traditional life insurance policy.
Life Insurance Companies (We Recommend)
When choosing life insurance, it’s crucial to find a company that provides coverage for your needs.
- For those with Parkinson’s Disease, we recommend Foresters whole life insurance. In addition, their final expense insurance is an option to help pay for funeral expenses if you can still perform your ADLs.
- Foresters were founded in 1874 and are Rated A with A.M. Best. With over 140 years of experience, they’re a company you can trust.
So if you’re looking for life insurance coverage, check out Foresters.
Disclaimer: We are licensed life insurance agents for American General and Gerber. If you need a quote or want to apply, contact us below. There is no charge for the service. However, we strongly discourage applying without the assistance of an agent because if you apply on your own and get declined coverage, for whatever reason, no other life insurance company will consider you for coverage for approximately two years.
Suppose you have been diagnosed with one of the top five medical conditions that are not insurable for life insurance. In that case, it is essential to speak with an insurance agent like The Annuity Expert. Each case is unique, so it is vital to get expert advice before making any decisions. The best way to determine if you are eligible for coverage is to speak with a life insurance agent. They will be able to help you understand your options and find a policy that meets your needs. Contact us today for a free quote!
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