Learn how disability insurance works

Can You Buy Disability Insurance When You Are Sick Already?

Filed under: Disability Insurance — Alston @ 11:05 pm April 30, 2011

If you are currently disabled, you will not be able to buy a disability insurance policy. However, being sick doesn’t automatically preclude your being able to purchase a policy.

If you have a condition like high blood pressure, but are not currently disabled, you may be able to purchase a disability insurance policy. You may pay more than someone who does not have the condition, but there is a good chance that you will qualify for a policy if you are otherwise in good health and your pressure readings aren’t too high.

With certain health conditions, your insurance company may place an elimination rider on the policy that keeps them from paying if you are disabled due to that specific condition. If you have glaucoma a policy might be issued, but disability caused by blindness might be excluded by a rider.

Riders are often used when the effects of the medical condition is limited to a certain part of the body. However, if you have a medical condition like high cholesterol where the effects can manifest themselves in a variety of ways, the insurance company will not have the option of adding a rider to your policy. They will likely increase your premium or deny the application.

It is important to buy disability, life and health insurance before a sickness occurs. Otherwise, you may face paying a higher premium, owning a policy that gives you less than full protection or being denied entirely.

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