Can you get life insurance if you have a chronic illness?

It depends. If you have a chronic condition, an insurer will either choose to cover you after a medical questionnaire or exam, exclude it outright but still cover you for other conditions or not cover you at all. Life insurance inside your super fund could be an option as they usually have auto-acceptance policies.

What is considered chronic illness for insurance?

A chronic illness is a health condition or disease that is long-lasting in its effects. The term 'chronic' is often used to describe an illness that lasts for more than three months but this varies depending on the insurer. Some common types of chronic illness include diabetes , lupus and arthritis.

What illnesses prevent you from getting life insurance?

Every insurer is different but some have a stricter view on which illnesses prevent you from getting covered than others. Specficially, anything that can be considered a pre-existing condition is sometimes excluded from cover; or, it might be covered but you'll need to pay a higher premium to include it in your policy as a claimable condition.

Is it worth getting life and critical illness cover?

It can be worth purchasing both life insurance and critical illness cover , especially if you're at all worried about having enough funds if you unexpectedly fall seriously ill in the future. Life insurance generally kicks in when you die or if you're terminally ill, in some cases. Critical illness, on the other hand, can help you pay for expenses if you are ill and unable to work. Total and permanent disability insurance, commonly known as TPD , is another option to consider. A lump sum payout can be a big help should you become premananently disabled.