Life Insurance For The Disabled

August 10, 2020 2:02 PM

Are there any life insurance companies that offer life insurance for people who are rated as totally disabled (SSDI, etc)? Or companies that will insure you for anything other than the disability?

Looking into this I haven't been able to find anything that doesn't automatically reject for serious disability, even if the serious disability wouldn't by itself be likely to kill you in a way that they'd have to pay out for. Wondering if that's just how it goes or if there are higher risk insurers that charge more?

posted by corb to Work & Money (3 answers total)

Types of insurance that might be available to someone with a high-risk disability include guaranteed-issue life insurance and impaired-risk life insurance. An insurance broker might be able to help you find a policy that meets your requirements (I suspect they have high premiums and waiting periods). Alternatively, single-premium life insurance does not care about disability, but the single premium payment will be the face amount of the policy.
posted by RichardP at 3:07 PM on August 10, 2020

The Insurance Surgery work with people with medical problems. https://www.the-insurance-surgery.co.uk/
posted by Idcoytco at 3:33 PM on August 10, 2020

I did not find this 26 years ago when I married a man who'd had a kidney transplant, and we tried again several times over the years inclduing working with an insurance broker who tried really hard for us. No one would give him anything more than a 25k policy, unless it was short term. We could have gotten a larger policy for a 10 year limit, and then the money wuold be gone if he lived longer than that. I felt really gross about betting on him dying sooner so went with the 25K policy. He lived 18 years after we married (28 years after his transplant) so it was just as well.
posted by buildmyworld at 6:25 PM on August 10, 2020 [1 favorite]