Life Insurance With Pre-Existing Medical Conditions

What is a Pre-Existing Medical Condition?

Like so many things in life, our health is not certain. There could come a time when you fall ill or injure yourself, and when that day comes, you want to make sure that your life insurance doesn't let you down.

But a lot of the responsibility in making sure your policy pays out lies with you. You need to be honest and open with your life insurance provider and tell them about everything — maybe not that time you scraped your knees as a child, unless it resulted in a lasting injury that still affects you today.

Pre-Existing Medical Condition Types and Examples

Chronic conditions: Hypertension, asthma, high cholesterol.

Serious illness: Cancer, stroke, heart disease.

Serious injuries: Back and neck injuries.

Serious genetic disorders: Cystic fibrosis, sickle cell anaemia.

Mental health conditions: Depression, bipolar disorder, schizophrenia.

Should You Disclose Every Pre-Existing Condition?

You should definitely disclose every pre-existing medical condition. You might think that keeping something from your life insurer will lead to successful claims, but the opposite is usually true.

If a life insurance provider discovers that you knowingly withheld a pre-existing condition, it could result in a claim being rejected. This means your loved ones may not receive a payout, or you could be unable to claim for disability, income protection, or dread disease — despite paying premiums for years.

Even if the condition seems unrelated, insurers may argue otherwise. For example, untreated depression can affect physical health. If a heart attack occurs and depression was not disclosed, the insurer could argue that the condition contributed to the claim.

Insurers will also investigate claims thoroughly by reviewing medical records and consulting doctors. Any undisclosed condition is likely to be discovered and may result in a reduced payout or no payout at all.

The bottom line: never hide pre-existing medical conditions from your life insurer.

Will You Need to Undergo Tests?

What is medical underwriting?

This is the process where a life insurer gathers info about your medical history and current health. They use the results of this to decide what, if any cover, they are willing to offer you and at what premium.

Most life insurers will perform some form of medical underwriting when you're looking to get cover, even if it's only an HIV test. Some will insist on more comprehensive tests, like cholesterol, blood pressure, thyroid checks, and more.

These tests can be a little scary, because you might find out about an underlying condition that you never knew you had. But knowledge is power, so take the tests and be ready to deal with whatever may come your way.

Will Your Life Insurer Exclude Pre-Existing Conditions?

This depends on the insurer and the pre-existing condition we're talking about. It really varies from person to person, case by case.

• This is the process where a life insurer gathers info about your medical history and current health. They use the results of this to decide what, if any cover, they are willing to offer you and at what premium.
• Most life insurers will perform some form of medical underwriting when you're looking to get cover, even if it's only an HIV test. Some will insist on more comprehensive tests, like cholesterol, blood pressure, thyroid checks, and more.
• These tests can be a little scary, because you might find out about an underlying condition that you never knew you had. But knowledge is power, so take the tests and be ready to deal with whatever may come your way.
• Some pre-existing conditions may be so serious that the life insurer won't cover them at all, such as cancer or tuberculosis. This doesn't mean that you definitely won't get cover if you've had cancer previously — but many life insurers might decline to cover you for it.

Should You Switch Life Insurers?

If you find that your life insurance provider won't cover you for a certain condition when you quote, it's a good idea to get multiple quotes from different insurers. You never know if another company will feel differently about your condition.

However, once you have life insurance, be careful when you want to switch. What you may be covered for under one policy might not carry over to another. Think of things like waiting periods, too, that may be activated when you change providers.

Make sure that you get all the same cover and benefits before making the switch, as you don't want to spend your hard-earned money on a monthly debit order, only for the policy to not pay out when you need it to.

If you're ready to find a better deal, Hippo.co.za is here to help! You can compare 12 life insurance providers side by side and stack 'em up against each other to see which one suits your lifestyle and needs best.