Life Insurance: How To Buy Despite A Health History

Life insurance can provide benefits while you are alive, and protect your beneficiaries in the event of your death. While purchasing life insurance after a diagnosis can be difficult, it is not impossible.

Alternatives include:

• Searching for life insurance that may be available in your state or one nearby or a state to which you travel. 
  • Depending on your health history, you may qualify for standard issue life insurance - possibly with a higher than average ("Rated") premium. If not, you may be able to obtain a simplified issue policy (only a few questions are asked) or guaranteed issue policy (where no questions are asked.)
• Obtaining life insurance through work, either during an open enrollment period at your current job or going to work for another employer who offers life insurance. (For more information about changing jobs after a diagnosis, see the document in "To Learn More."
• Through a partner or spouse.
• By joining an organization that offers life insurance to members such as a fraternal organization or an organization for members of the same profession.
• Credit life, both in the form of credit insurance and mortgage life insurance.

Each of these alternatives are discussed in other sections of this document.

Before purchasing life insurance, check the insurance company rating to be sure it will be here to pay future claims. For instance, check the independent rating agency TheStreet.com

If you have a question about whether you should purchase life insurance, see New Uses of Assets -- Life Insurance.

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