Will Life Insurance Cover Me if I’m Sick?

Life insurance is a crucial tool that provides peace of mind and financial security for individuals and their families. For those who are ill, understanding how life insurance works and what options are available can be particularly important.

Can Policies Help With Health Care Costs While You’re Ill?

In some cases, life insurance policies can help with health care costs while you’re ill. Some policies include living benefits or accelerated death benefits, which allow policyholders to access a portion of their death benefit while still alive. This can be particularly useful for covering medical expenses, long-term care or other health-related costs.

Additionally, some policies offer critical illness riders, which can provide a lump sum payment if you’re diagnosed with a specified illness, such as cancer or heart disease. These funds can be used to pay for treatments, medications or other necessary care, alleviating some of the financial burdens associated with severe health conditions.

How Can I Find Coverage if I Already Have a Pre-existing Condition?

Finding life insurance coverage if you’re already ill or have a pre-existing condition can be challenging, but it’s not impossible. Consider the following strategies when searching for coverage:

• Work with an experienced agent. An agent specializing in high-risk cases can help you navigate the options and find insurers willing to provide coverage.
• Consider guaranteed-issue policies. These policies don’t require a medical exam and are typically available to individuals with pre-existing conditions. However, they may come with higher premiums and lower coverage amounts.
• Look into group life insurance. Employer-sponsored group life insurance plans often have more lenient underwriting requirements, making it easier to obtain coverage despite health issues.
• Improve your health. If possible, take steps to manage your condition and improve your overall health. This can sometimes lead to better rates and more coverage options.

Get the Right Coverage

At AR Insurance Solutions, we can help you and your family secure the right coverage. Contact us today to learn more about life insurance and identify ideal policies.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.