Life Insurance with Cirrhosis in Canada

Life insurance is an important aspect of financial planning for many people. It provides a sense of security and peace of mind that in the event of your untimely death, your loved ones will be taken care of financially. However, for those who have been diagnosed with cirrhosis, the process of obtaining life insurance can be daunting. Obtaining life insurance with cirrhosis can be more complicated than it is for someone without any health issues. However, with the right information and preparation, it is still possible to secure coverage that will provide peace of mind for you and your loved ones. 

It’s important to work with a reputable insurance agent or financial advisor who can help guide you through the process and find the best policy for your needs. 

Individuals with cirrhosis may have concerns when it comes to obtaining life insurance, such as the possibility of being denied coverage, the high cost of premiums, limited coverage, the risk of policy cancellation, and a limited death benefit. However, it’s important to note that obtaining life insurance with cirrhosis is still possible, and the best option will depend on an individual’s specific needs, budget, and health status. As such, one of the most frequent inquiries we receive is “can I get life insurance if I have cirrhosis?”

 The answer is yes! You can get life insurance even if you have been diagnosed with cirrhosis.

In this article: 

• Overview of Cirrhosis
• Why Do Life Insurance Companies Care if I Have Been Diagnosed With Cirrhosis of the Liver?
• What Kinds of Questions or Information Will Insurance Firms Ask or Be Interested In?
• What Type of Premium Can I Expect To Pay?
• Life Insurance With Cirrhosis
  • Options for Life Insurance With Cirrhosis
• What Steps Can I Take To Secure the Most Suitable Life Insurance Policy for My Needs?
• Frequently Asked Questions (FAQs) about Life Insurance with Cirrhosis 

Overview of Cirrhosis

​​Cirrhosis is a chronic liver disease characterized by the replacement of healthy liver tissue with scar tissue. This scarring can impede the normal flow of blood through the liver and the ability of the liver to perform its many functions, such as filtering toxins from the blood, producing bile, and regulating the metabolism of proteins, sugars, and fats.

The most common causes of cirrhosis are chronic viral hepatitis (such as hepatitis B and C), alcohol abuse, and nonalcoholic fatty liver disease (NAFLD). Other causes can include autoimmune hepatitis, primary biliary cirrhosis, primary sclerosing cholangitis, and certain inherited metabolic disorders.

Symptoms of cirrhosis can include fatigue, weakness, weight loss, loss of appetite, nausea and vomiting, yellowing of the skin and eyes (jaundice), itchy skin, spider-like blood vessels on the skin, and fluid accumulation in the legs and abdomen (edema and ascites). As the disease progresses, complications can include bleeding from dilated veins in the esophagus or stomach, confusion or memory problems (hepatic encephalopathy), and liver cancer.

Treatment for cirrhosis typically focuses on managing the underlying cause and preventing complications. This may involve abstinence from alcohol, antiviral therapy for viral hepatitis, lifestyle changes to manage NAFLD, and medications to control symptoms and complications. In advanced cases, a liver transplant may be necessary.

It is important to note that cirrhosis is a progressive condition and once it develops, it cannot be reversed. Therefore, early diagnosis and management are crucial to prevent progression and minimize the risk of complications.

Why Do Life Insurance Companies Care if I Have Been Diagnosed With Cirrhosis of the Liver?

Life insurance companies care if an individual has been diagnosed with cirrhosis of the liver because it is a serious and potentially life-threatening condition that can greatly impact an individual’s life expectancy.

Cirrhosis is a chronic condition that can lead to a gradual decline in liver function, which can result in a wide range of complications, including liver failure, liver cancer, and death. The risk of these complications increases as the severity of the cirrhosis increases.

Life insurance companies use mortality tables to calculate the risk of death for a given individual. These tables take into account various factors such as age, gender, health status, and lifestyle habits. Having cirrhosis of the liver increases an individual’s risk of death, which in turn can result in higher premiums for life insurance coverage.

In addition to the increased risk of death, life insurance companies also have to consider the cost of any medical treatment and management associated with the individual’s cirrhosis. This can include the cost of medications, hospitalization, and other medical expenses.

When applying for life insurance, you will be required to undergo a medical examination as part of the application process. This will include a blood test to check your liver function, as well as other tests to assess your overall health. Based on the results of these tests, the insurance company will determine the type and amount of coverage you qualify for.

It’s important to note that there may be exclusions or limitations on coverage for people with cirrhosis. For example, the insurance company may exclude coverage for death caused by cirrhosis or related complications. Additionally, coverage may be limited to a certain amount or may require higher premiums. It’s also important to disclose your cirrhosis to the insurance company. Failure to disclose a pre-existing condition can result in the denial of a claim or cancellation of your policy.

What Kinds of Questions or Information Will Insurance Companies Ask or Be Interested In?

When applying for life insurance with a diagnosis of cirrhosis, insurance firms will ask or be interested in a variety of information to assess the risk of insuring you. The specific questions or information that they will ask or be interested in may vary depending on the insurance firm, but generally they will include:

1. Medical history: Insurance firms will want to know about your medical history, including any other existing health conditions, surgeries, and treatments you have received.
2. The underlying cause of your cirrhosis: Insurance firms will want to know the cause of your cirrhosis, as this can affect the severity of the condition, and your risk of complications.
3. Current health status: Insurance firms will want to know about your current health status, including your current symptoms, any medications you are taking, and your most recent lab results such as blood test, CT scans or biopsy results.
4. Treatment plan: Insurance firms will want to know about any treatment plan you are currently following, including any medications you are taking, and any future treatments that are planned, including the possibility of liver transplant.
5. Lifestyle habits: Insurance firms may ask about your lifestyle habits, such as whether you smoke, use alcohol, or engage in any other risky behaviors that may affect your health.
6. Occupation: Insurance firms may also ask about your occupation, as certain jobs may be more physically demanding and may impact your health.
7. Family history: Insurance firms may ask about your family history of liver disease or other health conditions that may be relevant to your risk of complications from cirrhosis.

It’s important to be honest and accurate when answering these questions, as failure to disclose information or providing false information can result in the denial of a claim or cancellation of your policy.  

What Type of Premium Can I Expect To Pay?

The premium you can expect to pay for life insurance with cirrhosis will depend on several factors, including the severity of your condition, your overall health, and the insurance company’s underwriting guidelines.

Generally, individuals with more severe cases of cirrhosis and multiple health issues may have to pay higher premiums than those with milder cases and good overall health. However, the exact impact on your premium will vary depending on the insurance company and the specific terms and conditions of the policy.

It’s also worth noting that some insurance companies may offer rated policies, which means that the coverage will come with a higher premium than a standard policy. Alternatively, some insurers may decline to cover you altogether.

Life Insurance With Cirrhosis

Life insurance with cirrhosis can be more challenging to obtain, but it is still possible. Cirrhosis is a serious, chronic liver disease characterized by the replacement of healthy liver tissue with scar tissue, which can impede the normal flow of blood through the liver and the ability of the liver to perform its many functions. The most common causes of cirrhosis are chronic viral hepatitis (such as hepatitis B and C), alcohol abuse, and nonalcoholic fatty liver disease (NAFLD).

When applying for life insurance with cirrhosis, insurance companies will typically take into consideration the underlying cause of the cirrhosis, the current health status of the applicant, and any other existing health conditions. Individuals with more severe cases of cirrhosis may have to pay higher premiums than those with milder cases and good overall health.

It’s important to disclose your cirrhosis to the insurance company, provide detailed medical information, and be prepared to answer questions about your medical history, treatment plan, and lifestyle habits. It’s also recommended to shop around and compare different policies and premiums from different insurance providers and to work with an experienced insurance agent or financial advisor to help find the most suitable policy for your needs.

It’s worth noting that some insurance companies may decline to cover you altogether or offer rated policies which means that the coverage will come with a higher premium than a standard policy. It’s important to keep in mind that the best life insurance policy for you is not always the one with the lowest premium, it’s the one that provides the best coverage for your specific needs.

Options for Life Insurance With Cirrhosis

When it comes to obtaining life insurance with cirrhosis, there are several options to consider:

Term Life Insurance 

Term life insurance is a type of life insurance that provides coverage for a specified period of time, such as 10, 20, or 30 years. If the policy holder dies during the term of the policy, the death benefit is paid to the beneficiary. If the policy holder survives the term, the policy expires and no death benefit is paid.

Individuals with cirrhosis may qualify for term life insurance, but the premiums may be higher than for someone without any health issues. The premium will depend on the severity of the individual’s cirrhosis and any other existing health conditions. Some insurance providers may also offer rated policies, which means that the coverage will come with a higher premium than a standard policy.

When applying for term life insurance with cirrhosis, the applicant will typically be required to undergo a medical examination as part of the application process. This will include a blood test to check liver function, as well as other tests to assess overall health. The insurance company will use the results of these tests, along with information about the applicant’s medical history, treatment plan, and lifestyle habits, to determine the premium and the coverage.

It’s important to disclose your cirrhosis to the insurance company, provide detailed medical information, and be prepared to answer questions about your medical history, treatment plan, and lifestyle habits. It’s also recommended to shop around and compare different policies and premiums from different insurance providers and to work with an experienced insurance agent or financial advisor to help find the most suitable policy for your needs.

Guaranteed Issue Life Insurance

Guaranteed issue life insurance is a type of life insurance that is typically available to individuals with serious health conditions, including cirrhosis. It does not require a medical exam or health questions, and it is usually easier to obtain than other types of life insurance.

The coverage under a guaranteed issue life insurance policy is typically limited compared to standard life insurance policies, and the death benefit is smaller. The premiums for guaranteed issue policies are also higher than for standard policies.

Guaranteed issue life insurance policies are often considered as a last resort for individuals who are unable to qualify for standard coverage due to their health condition. It’s important to keep in mind that while guaranteed issue policies are easier to obtain than other types of life insurance, the coverage is usually more limited and the premiums are higher.

When applying for guaranteed issue life insurance with cirrhosis, the applicant will typically be required to provide basic personal information, including name, age, and contact information. The insurance company will also ask about any other existing health conditions and any other life insurance policies the applicant may have.

It’s recommended to consider all the options available and compare the coverage and premiums of guaranteed issue policies with other types of life insurance. It’s also important to work with an experienced insurance agent or financial advisor who can help you find the best policy for your specific needs.

 Simplified Issue Life Insurance

Simplified issue life insurance is a type of life insurance that is a compromise between standard coverage and guaranteed issue coverage. It usually requires a medical exam and health questions, but the criteria for approval are less strict than for standard coverage. The coverage is usually more comprehensive than guaranteed issue policies and the premiums are lower than guaranteed issue policies.

Individuals with cirrhosis may qualify for simplified issue life insurance, but the premiums will depend on the severity of the individual’s cirrhosis and any other existing health conditions. Some insurance providers may also offer rated policies, which means that the coverage will come with a higher premium than a standard policy.

When applying for simplified issue life insurance with cirrhosis, the applicant will typically be required to undergo a medical examination as part of the application process. This will include a blood test to check liver function, as well as other tests to assess overall health. The insurance company will use the results of these tests, along with information about the applicant’s medical history, treatment plan, and lifestyle habits, to determine the premium and the coverage.

It’s important to disclose your cirrhosis to the insurance company, provide detailed medical information, and be prepared to answer questions about your medical history, treatment plan, and lifestyle habits. It’s also recommended to shop around and compare different policies and premiums from different insurance providers and to work with an experienced insurance agent or financial advisor to help find the most suitable policy for your needs.

Group Life Insurance

Group life insurance is a type of life insurance that is provided by an employer as a benefit to its employees. It is usually less expensive than individual life insurance policies and the underwriting criteria for group policies are usually less strict than for individual policies. This can make it a good option for individuals with cirrhosis who may have difficulty qualifying for individual coverage.

When applying for group life insurance with cirrhosis, the applicant will typically be required to provide basic personal information, including name, age, and contact information. The insurance company will also ask about any other existing health conditions and any other life insurance policies the applicant may have.

However, it’s important to keep in mind that group life insurance policies have certain limitations. Coverage through group plans is usually limited and may not be continued after retirement or job change, and the death benefit is usually lower than with individual policies. Also, group policies are not portable, which means that if you leave your employer, the coverage will be terminated.

It’s recommended to consider all the options available and compare the coverage and premiums of group life insurance policies with other types of life insurance. It’s also important to work with an experienced insurance agent or financial advisor who can help you find the best policy for your specific needs.

What Steps Can I Take To Secure the Most Suitable Life Insurance Policy for My Needs?

If you have been diagnosed with cirrhosis, there are several steps you can take to help ensure that you get the most suitable life insurance policy for your needs:

1. Work with a reputable insurance agent or financial advisor: An experienced professional can help guide you through the process of applying for life insurance and can help you find a policy that fits your needs and budget.
2. Be honest and upfront about your condition: It is important to disclose your cirrhosis to the insurance company. Failure to disclose a pre-existing condition can result in the denial of a claim or cancellation of your policy.
3. Gather your medical records: Collect all your medical records, including lab results, treatment plans, and medications to present to the insurer.
4. Shop around and compare different policies: Compare different policies and premiums from different insurance providers. Be sure to read the fine print and understand the exclusions and limitations of each policy. 
5. Provide additional information that can help your case: Provide information that demonstrates your overall health and well-being, such as recent lab results, physical activity levels and any other information that can help to mitigate the risk of your cirrhosis.
6. Be prepared to answer questions: Be prepared to answer questions about your medical history, treatment plan, and lifestyle habits.

Keep in mind that the best life insurance policy for you is not always the one with the lowest premium, it’s the one that provides the best coverage for your specific needs.

Frequently Asked Questions (FAQs) about Life Insurance with Cirrhosis

Find a solution for what you’re looking for

Obtaining life insurance with cirrhosis can be more complicated than it is for someone without any health issues. However, with the right information and preparation, it is still possible to secure coverage that will provide peace of mind for you and your loved ones. You can even get free professional advice from an award winning broker at Protect Your Wealth to help you identify and secure the right life insurance coverage you need to create financial stability and protect your family and assets.

 To schedule a consultation about your income protection goals, or if you have any questions about insurance in Ontario or Canada, please contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today! We’re proudly based out of Hamilton, and serve clients anywhere in Ontario, British Columbia, and Alberta  including areas such as Vaughan, Prince George, and Red Deer.