Can I Get Life Insurance With A Disability?

life insurance with a disability

Disability Figures For The UK

Currently over 14 million people who live in the UK with a registered disability which impacts their daily lives. It is worth noting that the current approximate number of people who live in the UK is nearly 68 million. That means that roughly a fifth of UK residents have some form of impairment. Of the total number of people diagnosed with a disability approximately 4 million are currently working. With so many people having some form of disability, the need for Life Insurance is a commonly asked question.

UK Disability Rights

Due to the many improvements within UK legislation, which includes the Equality Act 2108. All people who have any kind of disability must be treated the same as a non-disabled person. All Insurance Companies are not allowed to refuse protection cover to you on the grounds of a disability. Nor should they offer worse terms than any other customer because of your disability.

If you’re ongoing disability is determined to be relatively minor. With you being able to live a ‘normal’ life with no other ongoing medical problems. A Life Insurer may be able to offer you a standard premium, similar to a non-disabled person. However, it is worth clarifying that if your ongoing disability means that you may have a greater risk of illness or death. They could offer a slightly higher monthly premium for your policy, or they could apply special conditions or exclusions.

life insurance cover with a disability

Do I Need To Tell A Life Insurer About My Disability?

If you are looking to buy your first Life Insurance policy or maybe an additional policy. Then yes, you will definitely need to declare your disability. As mentioned above a Life Insurer cannot refuse you protection cover, but it may cost you slightly more. Because your disability is likely to be diagnosed prior to you buying Life Insurance. An insurer may class it as a “pre-existing condition”. Which can mean that any claims that are directly linked to your disability may be excluded from your policy.

A very important point to remember is to not be tempted to withhold important information about your disability. This is because each Life Insurer will want to access your medical history, to confirm which conditions have been declared. This is a standard process for all Life Insurance applications to confirm the health and wellbeing of a customer. A Failure to disclose important medical information could invalidate your policy (also known as a material fact). This could mean that a claim may not paid to your family, if you have withheld important information.

If you currently have a Life Insurance policy in place and you develop a medical condition or disability. It could be worthwhile to check your policy documents to confirm if you need to inform them about a change in circumstances.

But whatever you do, do not cancel your policy. This is because your current policy price would be calculated on your previous fit and healthy status. If you do choose to cancel your policy it is unlikely that you’ll get the same terms as when you were in better health.

Where Can I Buy Life Insurance From?

As new medical conditions are discovered every day, some causing more severe disabilities than others. It is quite clear that there are many different forms. With disabilities varying from sensory impairment, hearing, visual, neurological conditions and a physical disability. There is not an individual Life Insurance policy available for general purchase for everyone. This is true for everyone including non-disabled and disabled people. This is because each Life Insurance policy is created for the individual’s specific needs and lifestyle.

In order to help you find the right type of Life Insurance for your disability. It is important to use an FCA regulated broker, like Life Insurance Cover who can search all of the Life insurers including specialist providers. By searching all of the providers for the UK, we can help you find suitable policies for your circumstances. Our expert team of advisors have the extensive experience and knowledge needed to make the process as uncomplicated as possible.

Disability facts and figures from Scope