What You Should Know
- AIG, Gerber Life, and Great Western offer life insurance policies for people on dialysis
- You can expect your life insurance rates to be much higher than average
- A guaranteed issue life insurance policy could be your best option as it does not require a medical exam
If you are on dialysis, you know firsthand the rigorous, exhausting, and painful nature of dialysis treatments. And outside of having to go to dialysis often, you also have other things to worry about, like caring for your family. Can you get life insurance on dialysis?
As a dialysis patient, you may think there's no life insurance option for you. But the good news is, there are some life insurance companies that insure people on dialysis.
While guaranteed life insurance might be your safest bet, you can also look into other forms of life insurance, like whole life insurance for dialysis patients or final expense insurance. You can use a life insurance guide to help you better understand your options.
Life insurance for kidney patients will probably be more expensive than standard rates, but that doesn't mean it will be impossible to find affordable life insurance for people on dialysis.
If you're feeling overwhelmed by the process of finding life insurance while on dialysis, we can help. We'll tell you how to get coverage and which companies offer it right here.
The key to finding the best rates for life insurance is to shop around and compare multiple life insurance companies for people on dialysis at one time.
Before you decide to buy life insurance for people on dialysis, make sure you incorporate our free quote tool above to compare rates from top companies in your area.
While there are a number of life insurance companies that will offer at least some form of life insurance coverage to dialysis patients, there are three companies that are a bit more common. These companies are:
- Gerber Life Insurance
- Great Western
Depending on the nature and stage of your dialysis, you may be looking for a broad spectrum of coverage options, or you may know all you really want is burial insurance for dialysis patients.
When attempting to purchase a life insurance policy, the first thing you should do is decide what your family truly needs once you're gone.
In most cases, a guaranteed issue life insurance policy would be your best bet, as this type of policy will not require you to undergo a medical exam to qualify for coverage.
The companies listed above may offer the right coverage for you. For example, you could look at the the AIG guaranteed issue rate sheet to see what your life insurance rates might be.
As stated above, you have options when it comes to the coverage you want and the policy you will ultimately purchase. But you will have a better chance with a policy that does not require you to take a medical exam to qualify.
Life insurance for kidney transplant patients and people on dialysis will always be more expensive than standard life insurance rates. This is because of the inherent risk associated with kidney disease.
But you are always welcome to look into different types of life insurance policies to see what you'd most like to purchase. There's no harm in examining your options.
The most common types of life insurance coverage options you may be interested in include:
- Term life insurance
- Whole life insurance
- Universal life insurance
- Indexed universal life insurance
- Variable life insurance
- Variable universal life insurance
- Final expense insurance
- Group life insurance
When you shop around online for life insurance policies, you can get a good idea of how much your rates would be as a dialysis patient for each of these types of policies. You should also start to better understand which coverages are and are not options you can really pursue.
While there's no way to truly know how much your individual life insurance rates will be as a person on dialysis, you can get a good idea based on your overall life insurance classification.
So what are life insurance classifications? These classifications are used universally by life insurance companies to help categorize policyholders into different groups based on their risk assessments.
There are five main life insurance classifications:
- Preferred plus
- Standard plus
As you can guess, the higher you are on the list of classifications, the lower your insurance rates are likely to be. As a dialysis patient, you may assume that you'd be in the substandard category, but that's not always the case.
Life insurance companies assess several different factors when determining a person's rates for coverage, such as:
- Type of policy
If you are on dialysis, but you are young, have no history of smoking, and you work from home in a safe environment, there's still a chance you could get reasonable rates on your life insurance policy.
But you won't know how much you can expect to pay until you begin researching online and comparing life insurance rates.
If you have a family or will have medical debt when you pass away, life insurance is a good idea.
Even if all you want is money to save your loved ones the financial burden of paying for your funeral, it may be more cost-effective to purchase final expense insurance than to try and save up the money on your own.
Do some research online to find and compare companies and see what types of coverage they might offer you. Speak to an agent if you have any questions about qualifications or coverages.
And be sure to use our free tool below to compare life insurance quotes for people on dialysis and see how much you could expect to pay.