Can’t Qualify for Life Insurance? Think Again


The reasons for life insurance are countless.  We all want to protect our families, and make sure they would be financially secure if you pass unexpectedly.  Nobody wants to think about this every single day of their life, but it is an important to discuss from time to time.

Like most people, it’s easy to procrastinate, and put these important decisions off.  Then when you finally do get around to discussing this, you might think life insurance is too expensive, or maybe you think your health history won’t allow you to qualify for life insurance.  The truth is, that life insurance companies have improved their underwriting criteria, and lots of people who think they can’t get coverage, actually can be approved.

In addition to insurance companies underwriting people who have “high risk” health conditions, insurance rates are at an all-time low.  This is a great combination as you may be able to finally afford, and get approved for life insurance coverage.

According to The Life Happens Organization, almost everyone feels life insurance is important and should be a type of policy they should take out on themselves.  But only 59% of these individuals have actually gone thru the process and obtained a policy for their families.  Many of us have some misconceptions about Life Insurance that are detouring them from beginning the process of securing life insurance. A common misconception is that life insurance policies are only useful in death. Truth be told, you may find the need to sell your life insurance policy while you are still alive. Going into debt while alive won’t help your loved one’s much after you are gone.

Here are some common health conditions that many people may have

  • Heart Attacks or Strokes
  • Mental Disease
  • Cancer
  • Diabetes
  • Sleep Apnea
  • Liver or Kidney Disease

Most of us are not in perfect health, and more than likely you are taking medication for various reasons.  These issues may discourage you from thinking affordable life insurance is available.  We’re going to now provide some examples and disprove the myths that you could not qualify for life insurance.

Our first example is going to be a Male, in early 40’s, who suffered a heart attack a couple years back.  In addition, he had 2 stents put in as well.  It’s now been 2 years since the heart attack, and I bet you think he couldn’t qualify for life insurance.  As long as this individual has continued to see his Doctor, or cardiologist regularly, he would more than likely qualify for coverage.  Insurance companies want to make sure your health has improved from the time of the heart attack, which is usually what occurs.  Please don’t think that having a heart attack will prevent you from getting coverage.

What about the history of Cancer?  LIfe insurance companies may now consider cancer survivors for coverage.  Companies will want you to be cancer free anywhere from two to three years.  The longer it’s been since treatment occurred, the better rates and options that will be available.  Some insurance companies may even offer rates that are the same compared to a person who’s never been treated for cancer.

What if you have a mental health disease?  It’s fairly common to be treated for anxiety, depression, or maybe even bipolar disorder.  Would life insurance companies consider you for coverage?  The answer is yes.  As long as you are under the care of a Doctor, and no suicide attempts, you are going to have several options.  Your rates would be determined by the types of medications being prescribed.  In most cases, people with mental disorders won’t have to pay extra premiums, for their policy.

Another very common disease is Diabetes.  Almost 30 million people in the United States have a form of Diabetes. Most people are unaware that rates are at an all-time low, and diabetes life insurance is easy to obtain.  Even if you are a type 1 diabetic, and possibly have a Diabetes related complication, you’d still have life insurance options.  Life Insurance companies have evolved, and several of them are more than happy to accommodate people with Diabetes.  In all honesty, getting affordable life insurance with diabetes has never been so easy.   

Unfortunately, many of us don’t just have one significant health issue.  Perhaps there are several significant health concerns.  If this is the case, again you’d have options for coverage.  Surprisingly, there are insurance carriers who specialize in these high-risk cases.  

Policies known as final expense insurance plans are designed to undertake these greater risks and to accommodate those who are not in perfect health.  While traditional life insurance companies run away from people like this, these companies embrace it.  That’s the good news.  The bad news is that these policies only offer limited amounts of life insurance.  Policies range from $10,000 to $50,000 on average.  You may also take out multiple policies at once if needing a larger amount of coverage.  Usually, people will take out these plans to cover funeral costs, burial expense, and other types of final expenses.  

Now if a person has severe health concerns, such as current treatment of cancer, Alzheimer’s or dementia, or kidney disease being treated by dialysis, there are still life insurance plans available.  A person would still be eligible for an affordable guaranteed life insurance policies with these ailments.  With guaranteed issue life insurance, your acceptance is guaranteed.  You cannot be declined for coverage.  Plans are available for individuals between ages 40 to 85.  

Anytime you are shopping for life insurance, please make sure you are working with a qualified independent insurance agent.  They will be able to provide you multiple options for multiple life insurance carriers.  Have a quick 10-minute conversation, share your health profile, and an agent would be able to provide you several different solutions for your family.

It doesn’t matter what your health is, you’d almost always have options.  And if one company says you can’t qualify for their policy, perhaps another would have NO problems approving you.  Don’t give up hope, and please don’t ever stop trying to obtain the valuable life insurance that’s needed for your loved ones.

About Author


Wife, mother, grandma, blogger, all wrapped into one person. Lover of coffee, crime shows as well as humor. Loyalty, honesty and positivity is what attracts me to a person as that is what I try to project to others. Hard working and driven to a fault helps me help others and in turn helps myself in my daily work and life.

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