How to Get Great Life Insurance Rates with a Preexisting Condition

Life Insurance with preexisting conditionLet’s face it – as we get older, our health isn’t the same as what it was in our younger years. And that’s okay! It’s a part of life.

However, when it comes to purchasing life insurance, a decline in health means an increase in monthly rates, which we don’t want. So how do we still get a good deal?

In this article, we’ll discuss our four-step process to helping you get the best rates on life insurance. So if you want to save some money, keep on reading!

Quick Article Guide:

  1. What Qualifies as a Preexisting Condition?
  2. The Four Step Process
  3. What if my Application Gets Declined?
  4. Still Have Questions? We Can Help!

What Qualifies as a Preexisting Condition?

First thing’s first, what do life insurance companies consider to be a preexisting condition? It may seem like it’d just be medical conditions, but it applies to non-medical things as well. Here are some examples:

  • Driving record
  • Felonies or misdemeanors
  • Depression/anxiety
  • Diabetes
  • Cancer
  • Dementia
  • Asthma
  • Sleep Apnea
  • Pulmonary heart disease
  • Weight issues
  • Etc.

It’s not just preexisting conditions that life insurance companies look at, either; they also look at any medications you’re taking when determining your rate class. Taking one medication at a small dosage for a condition is ultimately going to be more favorable than if you are taking multiple medications for a serious condition(s), so it’s best to be upfront with your agent when talking about your medical history so he or she can help you get the best rates!

Now that we’ve covered the basics, let’s move on to our four step process when helping a client apply for a life insurance policy.

The Four Step Process


Step One: We will ask the client any questions that a life insurance underwriter would normally ask, so both we and the client are better prepared.

Step Two: After hearing about the client’s history, we will select the best fit life insurance company that we deem fit based on his or her preexisting conditions and medications.

Step Three: Once we get approval and an offer back from the company, we will deem if their offer seems fair or not based on the client’s history.

Step Four: If we don’t deem the offer to be fair, we will take the client’s lab results (from the free medical exam) and submit them to another life insurance company to review.

We realize that everyone is different, and that is why it’s so important to work with an independent agency. We have the ability to shop over 45 top-rated companies to find you the best rate, rather than speaking with only one company and risking getting a quote that is vastly overpriced.

Step One

When speaking with you, we want to make sure that we ask all the same questions an underwriter would ask, so we have an accurate understanding of your history, and what to expect from a potential carrier.

Depending on what preexisting condition you have, there are different questions we’ll ask. For example, if you have high cholesterol, we’d ask:

  • Are you taking any medications? If so, how many?
  • What is your total cholesterol?
  • What is your cholesterol ratio?
  • Are you a smoker? What is your health like besides your cholesterol levels?

All these questions can help us determine which company we think would be a good fit for you, and if you should route for a no-exam company or not.

Step Two

Like stated previously, we work with over 45 great life insurance companies, so we have no doubt that we can find the right fit for you based on your preexisting conditions. After asking you questions about your history, we’ll have a general idea of what rate class you’ll fit into, and can provide you with some estimated quotes from a few different companies.

Each life insurance company has “niches”, or categories that they are more lenient with, so we will relay which of those companies we think would be a great match for you, at the best price possible (our agents have over 50 years of experience collectively, so we like to think we’re pretty good at this part).

Step Three

Once we receive an approval and offer from the selected life insurance company, we will review the “fairness” of the offer. After you apply for life insurance and go through the underwriting process, the carrier will give you an life insurance offer; typically it is similar to the estimated quote we provided initially.

However, if there is information we were unaware of when quoting you, or your lab work provides some unknown information, you may be quoted at a different rate class than we initially thought. This isn’t necessarily a bad thing – you could be offered a lower monthly premium! But you could also be offered a higher rate than estimated as well.

That’s why we want to review this offer and deem if it’s acceptable, or if we think we can find you a better deal. If the offer seems too high, we’ll first speak with the company’s underwriter and see if we can get a better deal out of them. If not, onto the next company!

Step Four

If we decide that we don’t like the original company’s offer, we will submit your lab results to another life insurance company for their review (you won’t have to take another exam, don’t worry!). We will do this until we get an offer back that seems acceptable. From there, we will work to get your policy enacted and complete this whole process!

What if my Application Gets Declined?

If your application gets declined, don’t be discouraged! This is why we work with so many companies – if one door closes, another one will always open. In this situation, we will go straight to step four and submit your information to another life insurance company for review.

If you cannot get approved anywhere, there’s still a way to get coverage – and it’s called guaranteed issue life insurance. You can typically get up to $25,000 in coverage with this type of policy, and they will accept you no matter what your health conditions are.

Still Have Questions? We Can Help!

we can helpDo you have a preexisting condition or are taking medications that you think could prevent you from getting life insurance? Give us a call! We will do our best to make sure that you get a great rate from a top-rated life insurance company.

At JRC Insurance Group, our agents do not have sales quotas to meet, we’re just genuine people who want to match you with the best life insurance company possible. We work with over 45 top-rated companies, and have no doubt that we can find a company for you.

If you would like to receive an accurate quote based on your age and health, as well as which type of policy and amount of coverage you should choose, give us a call. Toll-free, no obligations: (855) 247-9555.

Our services are completely free, and there is not cost to apply for coverage. Give us a call today, or you can request a free online quote below to compare rates from more than 45 life insurance companies in less than a minute.

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