Can You Get Life Insurance with Pre-Existing Conditions?

A life insurance policy can help provide financial support to your family if you become terminally ill or pass away. Life insurance is worth considering if you’re supporting anyone (such as your partner and kids) and you want to make sure they can manage financially if anything unexpected happens.

When you’re applying for life insurance, it’s important to be upfront if you have any pre-existing medical conditions. At NobleOak, we assess each application individually so we can provide tailored coverage.

In this article, we’ll provide answers to the following:

• What is a pre–existing medical condition, and what are some examples?
• Is it possible to get life insurance with pre-existing conditions?
• Are premiums higher for life insurance with pre-existing conditions?
• How do you disclose pre-existing medical conditions when applying for life insurance?
• How long does the application process take?
• Are there any instances where life insurance might be declined due to a pre-existing medical condition?

What is a pre-existing medical condition?

The common definition of a pre-existing medical condition is any illness, injury, or health condition that you’ve experienced, had symptoms of, or have been treated for prior to applying for life insurance. Even if your pre-existing medical condition has been successfully treated, you will still need to provide details about it in your life insurance application.Any medical condition that affects your ability to work, or poses a threat to your life, will need to be disclosed to your insurance provider before you take out a policy. Different insurance companies define the term ‘pre-existing medical condition’ in different ways – please contact us to learn more about how it is defined by NobleOak.

Examples of pre-existing medical conditions

In many circumstances, you can still obtain life insurance even if you have a pre-existing condition. The application process might take a little longer, but ultimately it’s likely you’ll end up with quality insurance that can help act as a safety net for your loved ones.

The following are common examples of pre-existing medical conditions:

• Diabetes
• High blood pressure
• Asthma
• High BMI
• Heart disease
• Cancer
• Melanoma
• High cholesterol
• Kidney or liver disease
• Musculoskeletal conditions
• Stroke
• Sleep apnoea
• Arthritis
• Mental health conditions (including anxiety and depression)
• Any other conditions diagnosed by a medical practitioner/professional

Most insurance providers will also want to know certain details about your lifestyle, such as whether you smoke or drink alcohol. You can learn more about this in our article: Key Factors That Could Affect Your Life Insurance Premiums.

What isn’t classified as a pre-existing medical condition?

Most life insurance providers generally do not classify the following as pre-existing medical conditions:

• Minor colds and flu
• Injuries (such as broken bones) that you’ve fully recovered from
• Routine pregnancies
• Seasonal allergies
• Non-chronic skin conditions (such as mild eczema or acne)
• Minor surgeries (such as wisdom tooth extraction)

When you’re looking at life insurance options, make sure to check the policy details, or consult directly with the provider to make sure that you have all the information you need.

Can you apply for life insurance with a pre-existing medical condition?

Yes, it is possible to apply for cover with NobleOak if you have a pre-existing medical condition. An existing illness or injury doesn’t necessarily rule out your eligibility for life insurance. You may also need to undergo a medical examination.

Depending on the specific condition, NobleOak may offer to:

• cover the pre-existing condition,
• exclude your pre-existing condition from your cover, or
• cover the condition for a higher premium.

One common pre-existing medical condition is diabetes – you can find out more about how NobleOak approaches this in our article: Can You Obtain Life Insurance After a Diabetes Diagnosis?

Will life insurance cost more if you have a pre-existing condition?

Sometimes, yes, your insurance premiums will be higher to reflect the additional risk to the insurer if you have a pre-existing condition (referred to as a ‘loading’). Alternatively, your insurer might decide that they’re not able to provide coverage for a certain pre-existing condition – resulting in a life insurance policy that excludes this condition (referred to as an ‘exclusion’).

You can find out more about the cost of life insurance with pre-existing conditions in our article: Navigating Life Insurance: Loadings and Exclusions Explained.

How do you disclose your pre-existing condition when applying for life insurance?

When you’re taking out life insurance, and pre-existing conditions are relevant to your application, it’s important to be upfront. This means you need to provide honest answers about your medical history in your insurance application – either online or over the phone.

The application process of NobleOak Life Insurance involves detailed health and medical questions, where we’ll ask you to provide information about any past or current illnesses, treatments, surgeries, or medications.

Will you need to provide medical information or documentation related to your pre-existing condition?

In addition to the health questionnaire, we may also ask you to provide medical records or undergo a medical examination. The likelihood of this will depend on what the pre-existing condition is. More detail about this process is included in our article: What Is a Life Insurance Medical Examination (And What Can I Expect During Mine)?

NobleOak provides fully underwritten cover, which means that we only issue life insurance policies after thoroughly evaluating your health, lifestyle, and medical history. This allows for tailored premiums and coverage that’s based on your specific risk profile. You can learn more about this here: Fully Underwritten Life Insurance: Don’t Settle for Anything Less.

Although some insurance providers can issue life insurance policies without requiring as much medical information, there are downsides. The first is that the premiums are likely to be higher, and the second is you won’t have as much certainty that any insurance claims for this policy will be approved. Visit our article on life insurance Without a Medical Exam for more information.

How long does the application process take when you have a pre-existing condition?

This will depend on what the pre-existing condition is. In most cases, someone at the insurance company will assess your application and let you know if they require more information from you (or further tests) before assessing your application.

The length of the process will depend on what the pre-existing condition is, and whether you need to undergo a medical examination. Pre-existing conditions that are generally mild or well-managed may not require a medical examination – for example, if you have hypertension but it’s under control through medication and lifestyle factors, the application process should be fairly straightforward.

Can life insurance be declined due to a pre-existing medical condition?

In some circumstances, it might not be possible to obtain life insurance for pre-existing illnesses that are considered to be high risk. Certain aggressive types of cancer, for instance, might make it more difficult to take out a life insurance policy.

Ultimately, this will depend on the insurance company, and the specific details of your medical condition.

Award-winning life insurance

As Australia’s most-awarded direct life insurer, NobleOak provides quality coverage to help ease financial strain during difficult times.

Our Insurance Calculator can give you an idea of how much your insurance premiums might cost with NobleOak. You can also get started by using our online quote tool.

In addition to Life Insurance, NobleOak also provides Income Protection Insurance. Information about Income Protection and pre-existing conditions can be found in our article: Is Income Protection Worth It? The Pros And Cons.

Any financial product advice is general in nature only and does not take into account your individual circumstances, objectives, financial situation, or needs. Before acting on it, please consider the appropriateness of the information, having regard to those factors. Any third party websites or tools referred to are subject to their own terms and conditions and NobleOak Life Limited makes no representation or warranty as to any information on those websites. Persons deciding whether to acquire or continue to hold life insurance issued by NobleOak Life Limited should consider the relevant Product Disclosure Statement and Target Market Determination for the product. NobleOak Life Limited ABN 85 087 648 708 AFSL 247302.