Individuals are looking for life insurance, and they will often seek out many different resources. When it comes to those that are disabled, it can become frustrating and confusing. For them to find the information, they need. Most of the focus when looking for this type of insurance gets put on disability insurance. As opposed to offering a lot of information for the disabled that need life insurance.

One will have to change their thinking if they are disabled and looking for life insurance. What they are going to have to focus on is pre-conditions. Insurance companies carry a long list of pre-existing conditions. Ones that may get factored in to their eligibility for life insurance.

When disabled insurance shoppers look at insurance in this way, it can almost be a process of elimination. They can look over the long list of pre-existing conditions. Then they can to determine whether their disability fits in with any of these. If it does then it is going to factor in to how it is going to affect their life insurance.

Disability and Life Insurance

Disability

Disabled individuals have to realize that insurance companies are all about risk. There are many different types of disabilities. Insurance companies are going to look at these on their individual merits. They are going to determine what level of risk they are going to create for the life insurance company.

Common Disabilities and Life Insurance

 

Blindness

A common disability that leads many individuals to be disabled is blindness. There has been a lot of interest by some organizations.  Wondering if this affects these individuals from getting life insurance. There have been some surveys done. Throughout many countries. To determine if this is the problem that blind people get faced with. It varies among the different countries. But there were some indications that some individuals did run into difficulty with this.

Mobility disabilities

There are also a lot of people that become disabled because of mobility issues. Some of these individuals need enhancements to help them with their walking. Or they may get restricted to a wheelchair. Some may have prosthetics.

These two of many disabilities are something that life insurance companies may have to deal with. They are going to look at what risks they could create for the insurance company. Each individual will get treated on their own merit. Which means a lot of personal information is gathered about their disability. Then the insurance company will use what statistics and metrics are available to them. To help them determine how this is going to affect the insurance company.

Reducing Risks

reducing Risks

Insurance companies want to insure those that have the least amount of risk for them. The ideal client for life insurance is one that is perfectly healthy. One that has no pre-existing conditions. There are a lot of people with disabilities. They live a normal lifestyle and outside of their disability are perfectly healthy. These are factors that the insurance company is going to have to take into account.

What Disabilities will Get Denied Life Insurance?

Some organizations get concerned about disabled individuals. Such as the human rights commission. This organization wants to make sure that any disabled individual is not ostracized because of it. In other words, they can’t get denied their human rights. There is a question about whether this could spill over to life insurance. Or insurance of any type. There has been a great deal of discussion on this topic.

The human rights commission has worked with representatives in the insurance agency. To try and determine how they handle risk assessments. They are really focusing on the insurance companies having flexibility. When it comes to risk classification and how to manage these.

An individual can look at the common list that has been compiled. Ones that dictate what insurance companies consider as pre-existing conditions. They can determine if their disability fits into these.

There are some common diseases that can render an individual disabled.

Some of these include;

  • Cerebral Palsy
  • Multiple sclerosis
  • Muscular dystrophy
  • Parkinson’s disease
  • Spina bifida

Just to give you some examples.

These are pre-existing conditions. The insurance company is going to look at the merits of each. To what degree any of these conditions can render an individual as being disabled.

It differs from disabilities caused by accident. This is why it is such a grey area when it comes to insurance companies. Each insurance company is going to use their own metrics. Also, their own policies for determining who they are going to insure and who they are not.

Can I Get Denied Life Insurance Because I Have a Disability?

It certainly is possible for a disabled individual to get denied life insurance. It is going to depend on the factors that have been discussed here. An insurance company may feel that the insurance shopper is creating too high of a risk. Then they are most likely going to deny the insurance. They may make other suggestions if they carry alternate insurance packages.

Life Insurance for Disabled Individuals

medical exam

 

There are many insurance companies that now offer simplified insurance. Or other types of insurance packages. Ones that do not need a medical exam or a medical questionnaire to get filled out.  Some may feel their disability could affect their life insurance opportunities. They should check out these other types.

It is true that they will be outside of the traditional life insurance options. There will be restrictions. But many find that the insurance coverage that’s offered to them is adequate. They often will find that the insurance premiums may be cheaper. Than what they would be paying for traditional insurance. They are getting less for their money. It still is an option for those that have concerns for their loved ones. When it comes to their financial needs upon the death of the insurance shopper.

Resources

http://www.legalline.ca/legal-answers/life-and-disability-insurance/
http://www.insurancedirectcanada.ca/why-insurance-claims-are-denied-steps-to-avoid-it/
http://www.ohrc.on.ca/en/consultation-report-human-rights-issues-insurance/life-and-disability-insurance
https://www.sunlife.ca/ca/Insurance/Health+insurance/Personal+health+insurance/Buy+Personal+Health+Insurance+online/Pre-existing+illnesses+and+conditions