Skip to ContentSkip to Footer

It's Always Free To Work With An Agent - How Can We Assist You?

By submitting this form and providing my phone number to Murray Insurance Agency, I consent to receive quotes, pertinent insurance information, and healthcare-related text messages. I acknowledge that message and data rates may apply, message frequency will vary, and I can opt-out by replying “STOP.” Assistance can be found by texting “HELP.” For more information on how my data will be handled, please visit the Copyrights and Privacy Statement on our website.

MenU

Am I Eligible for Life Insurance if I Have a Chronic Illness?

elder man holding elbow

If you live with a chronic illness and are considering the prospect of purchasing life insurance, you may be wondering if your condition will get in the way of your eligibility. However, many people with chronic health conditions are still able to qualify for average life insurance rates. Of course, every person’s situation is different, and your rates will also reflect the specific type of chronic illness, and the treatments needed to address your symptoms.

Some chronic illnesses that often impact life insurance eligibility and rates include cancer, diabetes, high blood pressure, HIV, asthma, arthritis, and high cholesterol. Keep reading to learn more about chronic illnesses and life insurance eligibility.

Qualifying for Life Insurance While Living with a Chronic Illness

There are a few different types of life insurance available – term life insurance, permanent life insurance, and final expense life insurance. The type of chronic illness you have will determine which is best for you.

  • Term life insurance: The most popular option is term life insurance. Many people choose this because it is affordable and does not have many limitations or tax restrictions. If you have a chronic illness that is relatively well-managed, you may be eligible for term life insurance.
  • Permanent life insurance: Generally, permanent life insurance is most appropriate for those with a higher net worth. Given its cash value savings component, it is more expensive than term life insurance. Although having a chronic illness will not prevent you from applying for this type of insurance, it will have an impact on your premium, which might render it impractical.
  • Final expense life insurance: For older adults who wish to help their loved ones cover funeral costs or final medical expenses, final expense life insurance may be a good option. It is also great for those who have chronic conditions that might make other types of life insurance impossible to get.

Life insurance riders are another option for you to consider. They can supplement your life insurance policy and cover you if you are diagnosed with a terminal illness or require emergency care. For example, a chronic illness rider can provide benefits for those who cannot perform certain daily activities, such as bathing, eating, dressing, using the bathroom, or safely moving within their home.

Reach Out to Our Team to Talk About Obtaining Life Insurance Today!

With life insurance in place, you can feel confident that your beneficiaries will have what they need in the aftermath of your death. Even with a chronic illness, you can qualify for life insurance. However, your rates will depend on the condition you have, so it is essential to work with an experienced insurance agent who will take the time to understand your needs, condition, and the options that are best suited for you and your loved ones. Let our team help you find the best coverage.

Reach out to our team today to learn more about life insurance and discuss the options that are available to you.

Customer Reviews
5/5

I have always had such a hard time understanding Health Insurance and it was so...

FF
Frank F
5/5

Tom Walyus at Murray Insurance Agency KNOWS his way around the confusing world...

Stuart Dropkin
Stuart D
5/5

Had a bunch of questions about health insurance and Murray Insurance helped me...

NS
neil s
5/5

Had a lot of questions and they answered all of them. If you're as confused as...

DW
David W
5/5

Excellent Insurance Agency and professional staff. You will feel like they...

Wallaa El Daramlly
Wallaa E Daramlly