Life insurance with pre-existing medical conditions

Although nothing can replace you, life insurance could provide a payout to your family in the event of your death and a successful claim. This could help to relieve any financial pressures they face in future without you.

Securing cover can be a little more complicated and costly if you have pre-existing medical conditions, but it is certainly possible. This could give you and your loved ones a sense of reassurance, whatever the future holds.

In this guide, we’ll explain more about life insurance and pre-existing conditions.

  • Yes, you can still get life insurance with existing medical conditions, but it may cost more, depending on the health issues you have. Insurers are likely to view people with pre-existing conditions as higher risk when providing cover.

    All life insurance policies are reviewed on a case-by-case basis, which includes your medical history. So, it can depend on your individual circumstances. Some conditions may have a bigger impact than others on how much you’ll have to pay.

    If you have a serious medical condition , your options and the costs may be more limiting.

    Whatever you select, make sure you read through all policy documentation before you purchase cover, making sure it provides the protection you really need.

    Note that life insurance products have no cash in value at any time. If no valid claim is made by the end of the policy term, it will end, and you’ll get nothing back. If you don’t pay your premiums on time your cover will stop, your policy will end, and you’ll get nothing back.

  • If you have a medical issue that you’ve had symptoms of, or diagnosis and treatment for, this may be defined as a pre-existing condition. These may include:

    • Cancer.
    • Heart disease, including heart attacks and angina.
    • Strokes.
    • Brain haemorrhage.
    • Asthma.
    • High blood pressure.
    • High cholesterol.
    • Diabetes.
    • Obesity.
    • Mental health issues.
    • Epilepsy.
    • Cerebral palsy and other neurological conditions.
  • Yes, you should be completely honest with your insurer when taking out life cover.

    It’s natural to feel nervous about disclosing a pre-existing medical condition, in case you won’t be accepted, or the cost will be too high. But not giving enough information could mean your policy is voided or your loved ones can’t make a valid claim.

    When you apply for life insurance, your prospective insurer may ask for permission to see your medical history. There’s a chance that, if you decline, your application will be turned down.

    If you’ve already got cover, when an insurer processes a claim from your loved ones in the event of your death, they would ask your GP for your medical records. If these reveal a diagnosis that you hadn’t disclosed when you took out your policy, your cover may be invalidated.

    If you provide a full account of your health, a pre-existing condition shouldn’t prevent you from securing life cover. Should you die unexpectedly, your loved ones can claim a financial benefit to relieve at least some pressures in your absence.

  • When you take out life insurance, you will be asked a range of questions about your health. This is where you’ll let the insurer know about any pre-existing health issues.

    If you have a pre-existing medical condition, an insurer may ask for:

    • The name of the condition.
    • How long you’ve had it.
    • How severe it is.
    • Your medical history, including any hospital admissions related to your condition.
    • Information about any medication you’re taking.
    • Any family history of the condition.

    They may also ask general health questions such as:

    • Your height.
    • Your weight.
    • If you smoke or use nicotine products.
    • If you drink alcohol.
    • How active you are, and how often you exercise.
Frequently asked questions

Frequently asked questions

  • Critical illness insurance may give you a payout if you fall seriously ill. As with life insurance, you should still be able to secure critical illness cover with a pre-existing condition. This can depend on the condition and your medical history.

    At Lloyds Bank, you can purchase life and critical illness together, or independently. Make sure you read through all policy documentation before you go ahead, making sure it provides the cover you really need.

  • No, you don’t have to tell your insurer of any new medical conditions because your premium is calculated at the time you apply for cover. If you have a flexible policy and want to make changes to your cover then you will need to give an update on your current health.

    Similarly, if you have cover with a fixed end date – like term life insurance – and decide to take out another policy when the old one ends, you will need to tell your insurer about any new medical conditions.

  • Several things can affect your life insurance premium, including your:

    • Age.
    • Weight.
    • Family medical history.
    • Smoker status.
    • Alcohol use.
    • Occupation.
    • Hobbies.

    Your premium may also change depending on the amount of cover you select and the term.

  • If you have a serious medical condition , although you may be able to get life insurance, your options may be more limited. You may also find that the premiums are higher than for someone who doesn’t have a serious medical condition.

    The best way to understand your options and the potential premium costs for your individual needs is to get a life insurance quote.

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