Lanier Life Insurance Group | Policy Rate Comparison Table

Pre-Existing Conditions

Most people are wondering if they can qualify for life insurance with pre-existing conditions. The answer is not cut and dry. There are many nuanced factors at play. I will break down some common conditions and if you would be eligible for day 1 coverage and a preferred, standard, or a modified rate. Keep in mind, even if you have a major event happen - as long as there are no complications with the condition and it is controlled, after 2 years you may be eligible for preferred rates and day 1 coverage.

MIB or Medical Information Bureau

Anytime you visit a physician and get prescribed a new medication or health condition they record it in their database to keep accurate records to treat you properly. This is reported to the MIB. A database insurance carriers will verify you accurately answered the health questions on the application. If there is a discrepancy, you are likely to be declined coverage.

What are the different rate classes?

Preferred Rates are the best rates a company offers. Based on the company's underwriting guidelines, you answered no to all the health questions and should be offered a preferred rate.

Standard Rates are a step down from preferred. You answered yes to one or more of the questions in the last medical section of the application. This usually means you will be offered day 1 coverage but at a higher premium than preferred.

Modified or Graded Coverage does not pay the full benefit in the first 2 years. Some plans will have a graded benefit which increase each year until 100% of the face amount is reached. Most plans will pay 110% of the premiums paid in the first 2 years if you were to pass due to natural causes. Most plans also pay 100% of the full benefit if you passed due to accidental causes.

Guaranteed Issue Plans are offered with no health questions and guaranteed acceptance as long as you meet the age criteria.

Pre - Existing Conditions

Amputation Due To Diabetes
Eligible for Day 1 coverage: If it’s been over 2 years Yes
Risk Class Offered: Preferred over 2 years

Aneurysm
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Angina
Eligible for Day 1 coverage?: Yes - over 2 years
Risk Class Offered?: Preferred - over 2 years

Asthma
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Atrial Fibrillation
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Bi Polar Disorder
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Blindness
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Blood Clots
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Blood Thinners
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Cancer
Eligible for Day 1 coverage?: Yes - Over 2 years
Risk Class Offered?: Preferred - Over 2 years

Congestive Heart Failure (CHF)
Eligible for Day 1 coverage?: No
Risk Class Offered?: Guaranteed Issue

High Cholesterol
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Chronic Bronchitis
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Standard

Circulatory Surgery
Eligible for Day 1 coverage?: Yes - Over 1 Year
Risk Class Offered?: Preferred - Over 1 Year

Cirrhosis
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Standard

COPD
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Standard

Crohn’s Disease
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Cystic Fibrosis
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Defibrillator
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Dementia
Eligible for Day 1 coverage?: No
Risk Class Offered?: Guaranteed Issue

Depression
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Diabetes
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Diabetes with Complications
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Diabetic Coma
Eligible for Day 1 coverage?: Yes Over 2 Years
Risk Class Offered?: Preferred - Over 2 Years

Dialysis
Eligible for Day 1 coverage?: No
Risk Class Offered?: Guaranteed Issue

Disability
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Emphysema
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Standard

Epilepsy
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Drug Abuse
Eligible for Day 1 coverage?: Yes over 2 years
Risk Class Offered?: Preferred over 2 years

Felony
Eligible for Day 1 coverage?: Yes over 2 years
Risk Class Offered?: Preferred over 2 years

Heart Attack
Eligible for Day 1 coverage?: Yes over 1 year
Risk Class Offered?: Preferred over 1 year

Heart Surgery
Eligible for Day 1 coverage?: Yes over 1 year
Risk Class Offered?: Preferred over 1 year

Hepatitis
Eligible for Day 1 coverage?: Yes over 2 years from treatment
Risk Class Offered?: Preferred over 2 years from treatment

High Blood Pressure
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

HIV or AIDS
Eligible for Day 1 coverage?: No
Risk Class Offered?: Guaranteed Issue

Home Health Care
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Irregular Heart Rhythm
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Kidney Disease
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Lupus
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Multiple Sclerosis
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Neuropathy
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Overweight
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Oxygen
Eligible for Day 1 coverage?: No
Risk Class Offered?: Guaranteed Issue

Pacemaker
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Parkinson’s Disease
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Schizophrenia
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Seizures
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Sickle Cell Anemia
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Stroke
Eligible for Day 1 coverage?: Yes over 1 year
Risk Class Offered?: Preferred over 1 year

TIA Attack (Mini Stroke)
Eligible for Day 1 coverage?: Yes over 1 year
Risk Class Offered?: Preferred over 1 year

Tobacco
Eligible for Day 1 coverage?: Yes
Risk Class Offered?: Preferred

Wheelchair Usage
Eligible for Day 1 coverage?: Yes - depending on reason in wheelchair
Risk Class Offered?: Preferred - depending on reason in wheelchair

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