Whether you’re determining who is eligible for group life insurance, checking out universal life insurance resources, or just thinking ahead, it can be intimidating to shop for a life insurance product when you are living with a disability. Luckily, having a disability doesn’t necessarily mean you can’t qualify for life insurance. This is because, in the United States, it can be illegal to deny someone a policy simply because they have a disability because this could violate the Americans with Disabilities Act.

It’s important to note that insurance companies do factor in your life expectancy when determining your risk, and sometimes life expectancy can be impacted by preexisting health conditions or disabilities. However, life expectancy isn’t the only way insurers evaluate your risk score. Other factors can include sex, lifestyle choices, and medical exam results.

The types of life insurance products available to you largely depend on a number of factors. However, there isn’t a special type of life insurance‒whole life or otherwise‒solely for people with disabilities. 

You will typically apply for the same insurance products as anyone else, but you may have to pay higher premiums or have fewer policy options. Again, this depends on a number of factors in addition to how your disability impacts your life expectancy.

Having a disability alone may not impact your monthly premiums or number of options regarding policies and products. However, combined with the below factors, you could face more limited options or more costly premiums:

Medications and Medical Treatments

Life insurance companies can assess things like the prescription drugs you take, ongoing treatments, and surgeries or hospitalizations. These may be indicators of your life expectancy.

Work Eligibility

Many Americans live and work with disabilities every day, but other disabilities can inhibit your ability to work or care for yourself independently. When evaluating your risk, life insurance companies will take into account your job status because this can also impact the amount of insurance you can purchase.

Cause of Disability

Disabilities that are caused by chronic conditions or illnesses can be more difficult for insurers to cover, but this depends on the severity of the condition or illness. Additionally, insurance providers may rate risks lower for disabilities that are a result of an accident because these generally may have less of an overall effect on mortality.

While standard whole life insurance can be more difficult to qualify for if you’re living with a disability, guaranteed whole life insurance might be a better option. This type of permanent life insurance can offer a higher probability of approval for individuals who struggle to qualify for standard coverage.

This is because guaranteed whole life insurance does not usually require a medical exam. This may increase your ability to get approved, but it often comes with higher monthly premiums and can have a death benefit cap. If you’re looking for a whole life insurance option and can pay for those higher monthly premiums, this may be a worthwhile life insurance product for you and your loved ones.

• Who is Eligible for Group Life Insurance