If you’ve ever looked into life insurance but stopped because of something in your medical history, you’re certainly not alone.
Maybe you’ve been diagnosed with a health condition, take regular medication, or had a medical issue a few years ago.
It’s easy to assume an insurance company will take one look at your medical records and say no.
But having a medical condition doesn’t automatically mean you can’t get life insurance in New Zealand.
The answer depends on your individual circumstances, the type of cover you’re applying for, and which insurer you’re talking to.
Let’s break it down without the insurance jargon.
Can You Get Life Insurance With a Pre-Existing Condition?
Yes, it’s possible.
A pre-existing condition is generally a health issue you already have, or have experienced, before taking out insurance.
This could include:
- High blood pressure or high cholesterol
- Diabetes
- Asthma
- Anxiety, depression or ADHD
- Previous surgeries or injuries
- A history of cancer or other serious illnesses
Having one of these conditions doesn’t automatically rule you out.
When you apply for life insurance, the insurer looks at your medical history to understand the level of risk involved.
They may consider how long you’ve had the condition, how it’s being managed, whether you’re receiving treatment and whether there have been any complications.
Two people with the same diagnosis could receive different insurance offers depending on their circumstances.
And importantly, different insurers may assess the same medical history differently.
What Happens When You Apply for Life Insurance With a Medical Condition?
When you apply, the insurance company usually asks questions about your health and medical history.
Depending on your answers, they may request additional information from your GP or specialist.
This assessment is called underwriting. It’s simply the process an insurer uses to decide whether it can offer you cover and on what terms.
There are several possible outcomes.
1. You’re accepted at standard rates
Your medical condition may not affect your application, and you could be offered cover at the insurer’s usual rates.
2. You’re offered cover at a higher premium
Sometimes an insurer will offer life insurance but charge an additional amount because of your medical history.
This is called a loading.
In plain English, it means you can get cover, but it costs more.
3. You’re offered cover with an exclusion
An exclusion means certain circumstances won’t be covered.
Exclusions can be more relevant to some types of insurance, such as income protection or trauma insurance, than traditional life cover.
It’s important to understand exactly what is and isn’t covered before accepting any policy.
4. Your application is postponed
An insurer might ask you to wait before applying again.
For example, if you’ve recently had surgery, are undergoing investigations or are waiting for test results, the insurer may want more information about your recovery or diagnosis.
5. Your application is declined
In some circumstances, an insurer may decide not to offer cover.
But a decline from one insurer doesn’t necessarily mean every insurer will make the same decision.
That’s one reason getting advice before submitting applications can be worthwhile.
Will All Life Insurance Companies Treat My Medical Condition the Same Way?
Not necessarily.
Different insurers have different underwriting guidelines, which means they can assess medical conditions differently.
One insurer might offer cover with an additional premium, while another may offer different terms or decide not to provide cover.
It’s also important to understand that life insurance, health insurance, trauma insurance and income protection are different products.
Being declined for one type of insurance doesn’t automatically mean you’ll be declined for another.
This is where working with an independent insurance broker can be useful.
Rather than approaching one insurer and hoping for the best, a broker can help explore which providers may be more suitable for your circumstances.
You can read more about how a life insurance broker works in NZ.
What if I’ve Already Been Declined for Life Insurance?
First, it’s worth understanding why your application was declined.
Was it because of a particular medical condition? Were further investigations needed? Was the insurer unable to offer the amount or type of cover requested?
The reason matters.
Depending on the circumstances, there may be other insurers or different cover options worth exploring.
An insurance broker may be able to make preliminary enquiries with insurers before you submit another formal application.
This doesn’t guarantee acceptance, but it can help you understand your options before taking the next step.
It’s also important to be upfront about any previous insurance applications and decisions when asked.
Do I Have to Tell the Insurance Company About My Medical History?
When applying for life insurance, it’s important to answer the insurer’s questions honestly, accurately and completely.
This includes questions about previous diagnoses, treatments, medication and other health information.
Even if something happened years ago, it may still be relevant if the insurer asks about it.
Providing incorrect or incomplete information can create problems later, including when a claim is made.
If you’re unsure how to answer a question, ask your broker or insurer for clarification. You may also want to check your medical records.
The goal isn’t to make your medical history look perfect. It’s to make sure the insurer has the information it needs to assess your application properly.
What if I Already Have Life Insurance and Then Develop a Medical Condition?
This is an important distinction.
If you already have life insurance and develop a medical condition after your policy starts, that doesn’t automatically mean your existing cover disappears.
Your policy will generally continue according to its terms, provided you keep it in force and meet your obligations.
However, increasing your cover, adding benefits or applying for a new policy may require a fresh health assessment.
That’s why it’s worth getting advice before cancelling or replacing an existing policy, particularly if your health has changed.
You don’t want to give up cover you already have without understanding whether you can replace it, and on what terms.
Why Talking to a Broker Can Make a Difference
If you have a medical history, the cheapest quote on a comparison website might not tell you the full story.
An initial quote may change once the insurer has assessed your health information.
At Canvas Insurance, Kris works with Kiwi families to understand their circumstances and compare insurance options from different providers.
That includes helping you understand what information insurers may need, making enquiries where appropriate, and explaining any special terms offered.
Sometimes the answer is straightforward.
Other times, it takes a little more work to find out what’s possible.
And sometimes, unfortunately, suitable cover may not be available.
Either way, it’s better to understand your options than assume you won’t qualify.
Frequently Asked Questions
Can I get life insurance if I have diabetes?
Possibly. Insurers may consider factors such as the type of diabetes, how it’s managed, your medical history and any complications. The outcome will depend on your circumstances and the insurer’s assessment.
Can I get life insurance if I have anxiety, depression or ADHD?
A mental health or neurodevelopmental diagnosis doesn’t automatically mean you can’t get life insurance. Insurers may ask for further information about your diagnosis, treatment and history. Decisions vary between insurers and insurance products.
Can I get life insurance if I’ve had cancer?
It may be possible, depending on factors such as the type of cancer, treatment, recovery and time since treatment. Some applications may be postponed or declined, while others may be considered on specific terms.
Will life insurance cost more if I have a medical condition?
It might. Some people are accepted at standard rates, while others may be offered cover with an additional premium. Your individual circumstances determine the outcome.
Should I cancel my existing life insurance if I have a new medical condition?
Not without understanding the implications. If your health has changed, replacing existing cover may be more difficult or expensive. It’s worth reviewing your current policy and seeking advice before making changes.
Don’t Rule Yourself Out Before You’ve Asked
Life insurance isn’t always straightforward when you have a medical history.
But having a diagnosis, taking medication or having experienced a health issue doesn’t automatically mean insurance is off the table.
If you’ve been putting off looking into life insurance because you’re worried about your medical history, it may be worth having a conversation.
At Canvas Insurance, we help Kiwi families understand their options without the jargon, pressure or complicated explanations.
Whether you’re applying for the first time or have been declined previously, Kris can help you explore what’s available and what makes sense for your circumstances.
Get in touch with Canvas Insurance to have a chat.
This article provides general information only, not personalised financial advice. Insurance availability, premiums, exclusions and benefits depend on individual circumstances, insurer assessment and policy terms.
