Cerebral palsy, abbreviated CP, is an impairment which affects many Americans, both young and old. With cerebral palsy life insurance is still possible.
Depending on a lot of different factors, buying life insurance with cerebral palsy has a few different options.
If able to qualify, someone could apply for a fully underwritten life insurance policy, or else they can apply for a guaranteed issue life insurance policy if their impairment is considered too severe.
In either case, we’ll be happy to walk you through the process.
Cerebral Palsy Life Insurance
Cerebral palsy is a non-progressive impairment. All things being equal, life expectancy of someone with CP can compare with anyone else as long as proper care has been provided. Unfortunately, there is an increased risk for things called associated impairments, which would be any condition which arises because of the cerebral palsy.
Life insurance for someone with cerebral palsy depends on some main factors:
- Activities of Daily Living
- Mental Impairments
- Physical Development Impairments
There are several activities of daily living which are considered: the ability to eat on ones own, get dressed and undressed without assistance, and use the restroom with no help. Usually, if these daily activities are unable to be performed without aid, life insurance is not likely going to be very difficult to buy. The severity of cerebral palsy can range from these daily activities being achieved relatively simply, while others must be 100% assisted.
If the physical aspects of a persons abilities are hindered, it could be a direct or indirect result of impairments of intellectual nature. Mental impairments are more of a risk than physical, as physical impairments can be overcome in some cases, while intellectual improvements are more difficult, if possible.
A person with cerebral palsy who deals with minor physical impairments, and is capable of activity with use of a brace or crutch can get life insurance, while the use of a wheelchair is the opposite. If seizures are prevalent, as with a person without cerebral palsy, a person may not be eligible for life insurance unless the frequency is very low and date of last occurrence is distant.
Options For Cerebral Palsy Life Insurance
If an applicant has CP, and they are high functioning, you do have the option to apply for fully underwritten policies, with a few select carriers. The ratings you can expect will range, but won’t be better than Standard in a best possible scenario. The applicant would have to display a history of great mental capacity, excellent physical ability, and a sustained history of completing all necessary treatments or rehabilitation. These rates will differ between adolescents and adult aged insureds.
If an applicant is unlikely to (or has already been declined) get approved, a guaranteed issue life insurance policy is going to be the go-to route. A guaranteed issue policy is one which is approved for all applicants, regardless of past or current health concerns. The person need only be able to qualify based on age, amount and ability to pay for the insurance coverage. Do you have a health condition such as epilepsy and wondering if you can qualify for life insurance with epilepsy or life insurance with kidney disease? We can help answer these questions and many more!
If you have a policy now and you have purchased a child rider previously, check to see if your child can be added on via the rider. If so, also check to see if the child is eligible for their own policy based on the rules of the rider as a conversion. In other words, if there is a $10,000 rider on your policy and you child can be covered under it, they may also be eligible to convert this $10,000 up to 5x the death benefit amount. Not all contracts (or companies) offer this, but it could be a viable and more affordable situation for those under the age of majority.
If you have a unique situation, please don’t hesitate to contact us so we can help you.