Why does life insurance cost more if I have a medical condition?

Life insurance prices are based on a couple of key areas – age and medical history. The rule of thumb with life insurance is that it’s generally cheaper if you’re young and healthy. This is because you’re not seen as a ‘high-risk’ to the insurer. Insurers will rate you to be riskier if you have certain medical conditions.

Unfortunately, we have no control over our life insurance providers and their rating systems. However, we will do all we can to work with yourself and insurers to find the right plan and provider for you, though it’s a sad truth that some medical conditions will result in higher ratings and therefore, higher premiums.

If you’re worried that an illness or medical condition will affect the cost of your life insurance, there are options to explore a non-medical application. You won’t receive as high a payout, but at least you will have some protection in place.

Learn more about Non-Medical Policies

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