Dialysis can be a life-saving procedure but is considered a high-risk life insurance impairment.
If you are on dialysis and finding it hard to get life insurance, then you need to speak with an experienced high-risk life insurance broker.
Our agency specializes in high-risk life insurance and has experience placing tough cases.
Can you get life insurance while on dialysis? Yes, if you’re on dialysis, you can get guaranteed issue life insurance with no medical questions asked.
While not always ideal, guaranteed issue life insurance is still a great solution if you are out of other options.
We always recommend shopping life insurance rates with more than 50 of the top-rated life insurance companies.
You can do so easily below using our instant quote tool.
What Life Insurance Can I Get on Dialysis
Speaking from our experience as a high-risk life insurance agency, securing life insurance with a pre-existing condition can be difficult regardless of the impairment.
However, any health issues regarding vital organs are even trickier to place due to the importance of these body parts.
If you’re on dialysis, that means that your kidney functions have deteriorated to a point where you need artificial assistance to remove the toxins and waste from the body.
If a person stops dialysis treatment for any reason, they can die within a month.
The life insurance companies know this and will factor that risk accordingly.
As a result, it is next to impossible to get a new traditional life insurance policy if you are on dialysis treatment.
Even the best life insurance companies will decline you for fully-underwritten term life insurance if you’re on dialysis.
Pro Tip: If you’re on dialysis treatment, don’t waste time looking at quotes you can’t qualify for.
Go straight to guaranteed issue life insurance.
The best new life insurance policy you can get while on dialysis is guaranteed issue life insurance.
Guaranteed issue life insurance asks no health questions and has no medical underwriting whatsoever.
Instead, the life insurance company will issue your guaranteed issue life insurance with a modified death benefit.
Each guaranteed issue life insurance company will vary in details slightly, but the best-guaranteed issue life insurance companies usually share similar features.
In the first 2 years of the policy, your death benefit will pay a return of premium benefit plus interest if you die of any cause other than an accident.
Accidental deaths usually pay the full death benefit from day one with the top guaranteed issue life insurance policies.
After the modified death benefit period is over, the full death benefit will pay regardless of the cause of death just like any other life insurance policy.
You can typically get up to $25,000 of death benefits with a guaranteed life insurance policy, but some plans will go as high as $40,000.
Pro Tip: Consider stacking multiple guaranteed issue life insurance policies to get higher death benefit amounts.
Most guaranteed issue life insurance policies are whole life insurance, which is lifetime coverage that you can never outlive.
Once you purchase a guaranteed issue whole life insurance policy, your rate can never be increased, and your policy will slowly build cash value.
Guaranteed issue life insurance does not have many bells and whistles.
In fact, many of the top guaranteed issue whole life policies have nearly identical features.
As a result, you want to highly consider cost as the primary factor in purchasing a guaranteed issue life insurance policy.
Currently, AIG guaranteed life insurance is one of the best policies on the market.
AIG guaranteed issue life insurance often tops the charts with its low rates and is issued by an A-rated household, the AIG Life Insurance Company.
Gerber Life Insurance also has a competitive guaranteed issue whole life sometimes even beats AIG’s rates; although, not by much.
Guaranteed issue life insurance usually starts at age 50 and beyond, but we do work a company that will offer guaranteed life insurance coverage as low as age 40.
Can I Get Life Insurance if I Don’t Need Dialysis Anymore
If your kidney functions improve to the point where you no longer need dialysis, then it is possible that traditional life insurance may open up again.
Once your health improves, you can replace your guaranteed issue life insurance or supplement it with more death benefit protection.
That said, kidney recovery is a big if.
In our experience as high-risk life insurance brokers, it would be unusual for kidney functions to improve on their own to no longer need dialysis.
Pro Tip: We can transfer your cash value from an existing life insurance policy to a new policy in a 1035 exchange to reduce the cost of the new policy.
However, if you were to receive a kidney transplant and no longer required dialysis, that would be a different story.
Talking about the nuances of getting life insurance after a kidney transplant deserves an article on its own.
However, if you do get to a point where you can get traditional life insurance, we suggest that you do while you still can.
Can I get Mortgage Protection Life Insurance on Dialysis
Guaranteed issue life insurance was designed for final expenses and burial costs.
If you are looking for larger death benefit amounts, such as mortgage protection life insurance while on dialysis, we may need to get creative.
Mortgage protection insurance is usually not a great deal unless you can’t get traditional life insurance.
However, if you are on dialysis, you might want to consider mortgage protection due to its less strict underwriting guidelines.
Another alternative solution to life insurance on dialysis is accidental death insurance.
Accidental death insurance is an affordable way to protect your family in the event of a catastrophic fatal accident.
Since accidental death insurance does not cover medically-related deaths, you can get it while on dialysis no problem.
Pro Tip: You can combine guaranteed issue life insurance and accidental death insurance to give you robust protection against catastrophic fatal accidents.
Another solution that sometimes helps families is to provide money for the mortgage payment, not pay off the balance.
While everyone would love to leave behind a fully paid-off home, the payment protection plan is the next best thing.
You can but a small guaranteed issue whole life plan that can buy your loved ones 1-2 years to time to decide what to do with the property.
This gives them value able flexibility to wait out bad real estate markets if they choose to sell, or to find a suitable spot to relocate to.
Final Thoughts on Getting Life Insurance on Dialysis
Take it from a grizzled veteran high-risk life insurance agent.
If you’re on dialysis, guaranteed issue whole life insurance is the way to go.
By starting with guaranteed issue life insurance, you will save yourself time and energy looking at rates that you can’t qualify for.
With guaranteed issue life insurance, sooner is better than later.
You want to start the modified death benefit period as quickly as possible.
Since guaranteed issue life insurance is priced solely on your age and gender, the longer you wait, the more expensive it becomes.
If your health improves and you no longer need dialysis, then we can replace or supplement your guaranteed issue life insurance policy with a better one.
We can often transfer whatever cash value has built up in your old policy to the new life insurance policy to reduce the monthly premiums as well.
Furthermore, you can also consider strategies like accidental death insurance, mortgage protection insurance, or policy stacking to craft a solution that suits your personal situation.
If you are having trouble getting life insurance on dialysis, request a quote from our website today.
You’ll receive a no-obligation quote from one of our experienced independent agents.
Our agents specialize in high-risk life insurance and will go over your best options to protect your loved ones.