Home Life insurance Risk factors Life insurance for people with dementia Life insurance for people with dementia Life insurance for people with dementia can provide financial protection and peace of mind for their families, though coverage options may be limited and premiums higher due to the pre-existing condition. Written by Satta Sarmah-Hightower | Reviewed by Nupur Gambhir Nupur Gambhir Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service. | Updated on: October 30, 2024 Why you can trust Insure.com Quality Verified At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry. Securing life insurance with a dementia diagnosis can be challenging, but it’s still possible to find coverage that provides financial support for loved ones. While dementia is often considered a high-risk condition, understanding the available options can help individuals and families make informed choices to protect their future. Although traditional life insurance may be difficult to obtain, guaranteed issue life and final expense insurance often offer accessible solutions for those with dementia. Here’s what you need to know about how dementia can affect your life insurance options and the steps to take when applying. Key Takeaways Dementia is considered a pre-existing condition by life insurance companies. Depending on the extent of your illness, the insurance company will charge higher rates or even deny you. Guaranteed issue or final expense insurance may be your best option for coverage if you have dementia. Can you get life insurance when you have dementia? Yes, you can get life insurance if you have dementia, but you probably won’t qualify for a traditional policy. Along with diabetes, high blood pressure, heart disease and cancer, insurance companies consider dementia a pre-existing condition. A pre-existing condition, which is a health condition that you had before getting insured, can affect your rates and whether an insurer approves you for a policy. Katherine Adams, founder of the insurance brokerage Creative Legacy Group, says it’s possible to get life insurance if you have dementia. However, your options will be limited to guaranteed issue life insurance. Guaranteed issue policies do not require a medical exam or health questionnaire, making them accessible to pretty much everyone — including individuals with dementia, although guaranteed issue policies usually come with lower coverage limits and higher premiums. How does dementia affect life insurance rates and approval? Dementia significantly impacts life insurance costs and coverage options, as it’s viewed as a high-risk condition by insurers. Traditional life insurance policies tend to have higher premiums for individuals with dementia due to the increased likelihood of a claim being filed. In many cases, those with dementia may find their coverage options limited, with some insurers offering lower coverage amounts or declining applications altogether, especially if the disease has progressed beyond the early stages. Guaranteed issue life insurance, on the other hand, accepts almost all applications. However, premiums are costly. How guaranteed issue life insurance works Guaranteed issue life insurance can be a viable option for people with dementia, as it offers coverage without requiring a medical exam or health questionnaire. This type of policy guarantees acceptance regardless of health conditions, making it accessible for individuals who might otherwise be declined due to a dementia diagnosis. Guaranteed issue policies typically come with higher premiums and lower benefit amounts compared to traditional life insurance. Additionally, many of these policies include a graded death benefit, meaning full coverage only takes effect after a waiting period, often two to three years. If the policyholder passes away during this period, the policy may only pay a partial benefit or refund paid premiums with interest. QuickTake Life insurance and autism: What you need to know Can you hide smoking from life insurance companies? How to buy life insurance after being diagnosed with cancer Life insurance for people with depression or anxiety Life insurance for people with bipolar disorder Life insurance for down syndrome How to buy life insurance when you have high blood pressure Life insurance for parents of children with special needs Life insurance for diabetics Life insurance for overweight people Life insurance for people with HIV How alcohol use affects your life insurance premiums Life insurance for people with diabetes When is it too late to buy life insurance? Your life expectancy Cigar smokers see the best life insurance rates drift away How a history of mental illness affects your life insurance rates How blood pressure and cholesterol affect life insurance rates Life insurers shrug at assisted suicide See more > Tips for finding the right policy with dementia Finding the right life insurance policy with a dementia diagnosis involves understanding your options and working with an insurance provider who specializes in high-risk cases. Start by exploring guaranteed issue and final expense policies, which are the most accessible for individuals with pre-existing conditions. These policies generally provide essential coverage for end-of-life costs and don’t thoroughly evaluate your medical profile, making them a practical choice for those with dementia. However, it’s important to compare quotes and understand any waiting periods, as these policies may have a graded death benefit, which limits payout during the initial years. It’s a good idea to work with an experienced insurance agent during this process, as they can guide you through the available options. “I always recommend working with a broker who can look at different carriers for you. It’s important to have a couple of options,” Adams says. Agents specializing in high-risk life insurance can identify companies that may offer favorable terms for dementia cases and assist with understanding policy details. Finally, ensure that family members or trusted caregivers are involved in the decision-making process. It’ll be important that they know the details of your policy to file a claim later. × Get Free Life Insurance Quotes Today! Zip Code Please enter valid zip Age Age 16 – 20 21 – 24 25 – 34 35 – 44 45 – 54 55 – 64 65+ Coverage Amount Coverage Amount $50,000 – $100,000 $100,000 – $200,000 $200,000 – $300,000 $400,000 – $500,000 $500,000 – $1,000,000 $1,000,000 – $2,000,000 $2,000,000 – $5,000,000 $5,000,000+ Coverage Type Coverage Type Whole Life Term Life Final Expense Not Sure Gender Gender Male Female Non-Binary Tobacco Use Yes No Compare Quotes Related Articles Give yourself the gift of financial security this holiday season By Karen Terry Term Life Insurance Index: Q3 premiums drop by 1% By Nupur Gambhir Life insurance and autism: What you need to know By Satta Sarmah-Hightower The Santa Index 2024: St. Nick’s salary increases by almost 5% to $178,620 By Sarah Sharkey The 10 largest life insurance companies By Chris Kissell How much term life insurance costs By Huma Naeem On this page Can you get life insurance when you have dementia?How does dementia affect life insurance rates and approval?How guaranteed issue life insurance worksTips for finding the right policy with dementia ZIP Code Please enter valid ZIP See rates