Life insurance is an important financial protection that most people should have in place. Too many people believe certain life factors might preclude them from purchasing a life insurance policy. Among these are age, lifestyle habits, and pre-existing health conditions. While you may face some challenges with coverage in a few cases, you'll still be able to get life insurance with a pre-existing health condition if you stay organized and follow these tips.
Pre-Existing Medical Conditions
The number of people with pre-existing medical conditions became more visible with the passage of the Affordable Care Act. In 2011, the government determined that nearly
half of all Americans under retirement age
had some sort of pre-existing condition that was locking them out of the healthcare system. If you are one of these people and are now getting the treatment you need, it can only help your situation. Even if you've been receiving treatment, you'll want to be honest about your health status.
If you have a pre-existing medical condition, don't try to hide it or lie about it to an agent or insurance company. If you lie and the truth comes out later, your coverage will likely be cancelled and any claims denied. Your best course of action is to have as much detailed information as possible on hand about your condition. Gather dates of diagnosis, major treatments, tests, or surgeries, recent lab results, and a list of medications. This information will be helpful in documenting your condition and getting you the best life insurance quotes.