Which health conditions affect life insurance?
Some health problems may preclude you from getting life insurance coverage. They include certain cancers that have metastasized and indicate a short life expectancy, cocaine use and severe alcoholism.
Other conditions that life insurance companies may put under the microscope include:
- Diabetes
- Heart disease
- High blood pressure
- High cholesterol
But simply being diagnosed with these conditions – or having been treated for them – doesn't mean you can't get life insurance, especially if the condition is well-controlled.
Depending on the insurer, a woman whose breast cancer was caught at an early stage might be eligible for life insurance six months after completing treatment. A man with prostate cancer might have a 12-month wait.
Those with other types of cancer might have to wait longer for coverage or they might pay more depending on the type of cancer and its stage when diagnosed.
How can you get life insurance with a health condition?
Patience and flexibility also are virtues if you have heart disease or another heart ailment. Someone who recently suffered a heart attack might have to wait for approval because insurers don't know if they'll take care of themselves or not."
However, if you've had a heart attack – or other serious health problems – you'll have a much greater chance of getting insurance if you quit smoking, lose weight and start exercising.
Meanwhile, conditions like diabetes, sleep apnea and depression that are well-controlled aren't considered a terrible risk. People can get life insurance at reasonable rates. The key is that the condition is under control or the policy holder is trying to improve health. For instance, a diabetic who's losing weight to improve health.
Smoking can also lead to health problems. Life insurers charge much higher rates for smokers. Young smokers can play twice and middle-aged people may play four times the rates if they're smokers.
You also might have an easier time getting term life insurance rather than a permanent life policy like a whole life plan. Term life has an end date, so an insurer may feel you're still a low risk if you only take out a 10-year policy.
Silver plans provide a good balance of monthly premiums with out-of-pocket costs. Coinsurance is 70% with a silver plan, meaning you will pay 30% of the costs after your deductible is met, up to the out-of-pocket limit. Silver plans are a good choice for people who are in generally good health but don't want high out-of-pocket costs if something goes wrong. Bronze plans are a popular choice with those who value low monthly premiums and are willing to pay more when they need care. Coinsurance is set at 60%, meaning you will pay 40% if you do need care, up to the out-of-pocket limit. Bronze plans are good for those who don't expect to need many services outside of preventative care throughout the year.
ACA platinum plans have the highest monthly premiums, but the lowest out-of-pocket costs. You'll pay more monthly in return for lower deductibles, copays and coinsurance amounts. Coinsurance with platinum plans is 90%, which means you pay 10% after the deductible, up to your out-of-pocket limit. Platinum plans are good for those who anticipate a lot of medical needs throughout the year.
Gold plans cost a little less than platinum plans, and come with higher out-of-pocket costs. The coinsurance amount on a gold plan is 80%, which means you pay 20% after the deductible, up to your out-of-pocket limit. A gold plan is a good idea if you think you'll need a lot of care throughout the year, but don't want to pay platinum premiums.Health insurance finder tool
COBRA
Learn more about COBRA
Medicare
Medicare costs vary depending on which option you choose.
Learn more about Medicare costs.
Medicaid
Parent's employer-sponsored health insurance
Spouse's employer-sponsored health insurance
Employer-sponsored health insurance
Preferred-provider Organization (PPOs)
Preferred-provider organization (PPOs) plans are the most common type of
employer-based health plan. PPOs have higher premiums than HMOs and HDHPs, but
those added costs offer you flexibility. A PPO allows you to get care anywhere
and without primary care provider referrals. You may have to pay more to get
out-of-network care, but a PPO will pick up a portion of the costs.
Find out more about the differences between plansHealth maintenance organization (HMO)
Health maintenance organization (HMO) plans have lower premiums than PPOs.
However, HMOs have more restrictions. HMOs don't allow you to get care outside
of your provider network. If you get out-of-network care, you'll likely have to
pay for all of it. HMOs also require you to get primary care provider referrals
to see specialists.
Find out more about the differences between plansHigh-deductible health plans (HDHPs)
High-deductible health plans (HDHPs) have become more common as employers look
to reduce their health costs. HDHPs have lower premiums than PPOs and HMOs, but
much higher deductibles. A deductible is what you have to pay for health care
services before your health plan chips in money. Once you reach your deductible,
the health plan pays a portion and you pay your share, which is called
coinsurance.
Find out more about the differences between plansExclusive provider organization (EPO)
Exclusive provider organization (EPO) plans offer the flexibility of a PPO with
the restricted network found in an HMO. EPOs don't require that members get a
referral to see a specialist. In that way, it's similar to a PPO. However, an
EPO requires in-network care, which is like an HMO.
Find out more about the differences between plans
Learn more about individual insurance plans
Know more individual insurance / ACA 
Know more individual insurance / ACA 
Shopping for life insurance with a health condition
It's important to shop around if you have a health condition that makes getting life insurance a challenge. Insurers have all developed their own underwriting guidelines, and some are able to offer better rates for applicants with certain medical conditions.
Guaranteed life insurance is another option if you're looking for coverage with no health questions asked and no physicals required. But the amount of coverage offered is usually quite limited, the premium will be very high and if you die within the first year or two, your loved ones will likely receive only the premiums you've paid and any interest earned. Simplified issue is another option. These policies require you answer a few questions about your health, but you avoid a medical exam.
Your best bet is to get life insurance when you're young so you don't have to deal with these issues. However, if you're middle-aged and have health problems, you may still find a policy that's right for you.
