Whole Life Insurance for Disabled Individuals

Key Takeaway

There is not a separate life insurance product or policy for people living with a disability, meaning people with disabilities can apply for whole life insurance. However, depending on a number of factors‒including your disability and its impact on your life expectancy‒you could potentially face higher premiums or fewer policy options. Guaranteed whole life insurance can be a great option for people with disabilities. 


How Disabilities Impact Life Insurance

Whether you’re determining who is eligible for group life insurance, checking out universal life insurance resources, or just thinking ahead, it can be intimidating to shop for a life insurance product when you are living with a disability. Luckily, having a disability doesn’t necessarily mean you can’t qualify for life insurance. This is because, in the United States, it can be illegal to deny someone a policy simply because they have a disability because this could violate the Americans with Disabilities Act.

It’s important to note that insurance companies do factor in your life expectancy when determining your risk, and sometimes life expectancy can be impacted by preexisting health conditions or disabilities. However, life expectancy isn’t the only way insurers evaluate your risk score. Other factors can include sex, lifestyle choices, and medical exam results.

Whole Life Insurance Options for People With Disabilities

The types of life insurance products available to you largely depend on a number of factors. However, there isn’t a special type of life insurance‒whole life or otherwise‒solely for people with disabilities. 

You will typically apply for the same insurance products as anyone else, but you may have to pay higher premiums or have fewer policy options. Again, this depends on a number of factors in addition to how your disability impacts your life expectancy.

Life Insurance Considerations With a Disability

Having a disability alone may not impact your monthly premiums or number of options regarding policies and products. However, combined with the below factors, you could face more limited options or more costly premiums:

Medications and Medical Treatments

Life insurance companies can assess things like the prescription drugs you take, ongoing treatments, and surgeries or hospitalizations. These may be indicators of your life expectancy.

Work Eligibility

Many Americans live and work with disabilities every day, but other disabilities can inhibit your ability to work or care for yourself independently. When evaluating your risk, life insurance companies will take into account your job status because this can also impact the amount of insurance you can purchase.

Cause of Disability

Disabilities that are caused by chronic conditions or illnesses can be more difficult for insurers to cover, but this depends on the severity of the condition or illness. Additionally, insurance providers may rate risks lower for disabilities that are a result of an accident because these generally may have less of an overall effect on mortality.

Guaranteed Whole Life Insurance

While standard whole life insurance can be more difficult to qualify for if you’re living with a disability, guaranteed whole life insurance might be a better option. This type of permanent life insurance can offer a higher probability of approval for individuals who struggle to qualify for standard coverage.

This is because guaranteed whole life insurance does not usually require a medical exam. This may increase your ability to get approved, but it often comes with higher monthly premiums and can have a death benefit cap. If you’re looking for a whole life insurance option and can pay for those higher monthly premiums, this may be a worthwhile life insurance product for you and your loved ones.

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The information above is for educational use only and does not represent insurance, tax or legal advice. It is not a recommendation or solicitation to buy insurance. Please talk to your licensed insurance agent for more information about life insurance and your needs. Please consult with the appropriate professional for tax or legal advice. Guarantees are backed by the claims-paying ability of the issuing insurance company.

Article Author: Meredith Bell
Author Bio: Meredith joined Everly in 2022 and has 20+ years of experience in the life insurance industry. She has held various roles in advertising, marketing, communications, sales and distribution support, and product development. Outside of the office, Meredith lives with her daughter Kennedy and their dog Mavis. Meredith enjoys cooking, camping, gardening, hiking, and bourbon (though not always at the same time). She is a live music enthusiast and an avid reader. Her favorite quote is by Thomas Jefferson: "I cannot live without books." Meredith agrees, but would add cheese, movies, and dogs to that list.

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