Around 8 million people in the UK are asthmatic. Although…
Yes, you can get life insurance with Chronic Obstructive Pulmonary Disease (COPD), particularly if your condition is well-controlled and you’re a non-smoker.
In cases where you’re unable to secure standard types of life insurance due to severe COPD, you could apply for specialist life cover or an over 50s plan.
At Reassured, we can compare quotes for a variety of policy types from major insurers as well as smaller specialist insurers, to help you find a suitable policy.
Our experts will talk you through your available options and discuss your needs so you can make a fully informed decision as to which option is best for you.
Even if you’ve been declined life insurance in the past due to COPD, our dedicated specialist impaired risk team may be able to help you find some form of protection.
Our award-winning service is free of charge and without obligation, so get in touch today.
In this COPD life insurance guide, we help explain how you can find the right financial protection for loved ones, as well as answer the most common questions...
What is COPD?
COPD is a degenerative disease of the lungs which affects around 3 million people in the UK.
It’s the name for a group of lung conditions which include:
The two main symptoms of COPD are breathlessness and coughing which can get progressively worse as you age.
While the condition can’t be cured or reversed, treatment (such as inhalers and medication) can help slow the progression and control the symptoms.
The Asthma and Lung Charity provide advice and support on living with a lung condition, if you’d like to find out more about how you can manage your COPD.
What is life insurance?
Life insurance is designed to pay out a cash lump sum to your loved ones when you pass away, helping to relieve financial stress during a difficult time.
Depending on your personal circumstances, and the amount of cover you take out, the pay out from a life insurance policy could be used towards expenses such as:
Life insurance could also provide a cash gift for loved ones after you’re gone.
If you’re living with COPD, then having a life policy in place can give you peace of mind that your loved ones will have some financial support after you’re gone.
You can choose from different policy types depending on your needs and budget. We explain these options later on in this guide.
If you’ve been diagnosed with COPD, then insurers will take this into account when assessing your life insurance application.
The severity of your symptoms and how the condition impacts your day-to-day life will influence your eligibility and the cost of your premiums.
If you’ve been refused life insurance in the past, or your quotes have been unaffordable when applying with mainstream insurers, then a specialist insurer may be more suitable.
Specialist insurers are more likely to offer you a policy when others won’t, and their terms are much better for applicants with pre-existing medical conditions.
Regardless of whether you have mild, moderate or severe COPD, it’s important to shop around and compare quotes from different insurers to find the best solution for you.
At Reassured, we work with a panel of mainstream insurers as well as specialist insurers, allowing us to help with this process - saving you the time and hassle.
Yes, if you pass away due to COPD while your life insurance is in place then your loved ones will receive a pay out.
Life insurance will provide a cash lump sum upon your death as long as:
Some insurers won’t pay out for pre-existing medical conditions, however, if you arrange a policy through Reassured, your COPD (or any other health condition) will be covered.
The cost of life insurance depends on your personal circumstances and the policy you choose.
For example, if you opted for a whole of life or term life insurance policy, then your monthly premium will be influenced by the following factors:
On the other hand, if you opted for an over 50s plan then your monthly premium will be calculated based on just a few simple factors. These include:
Over 50s plans arranged through Reassured start from just £5 a month. If you’re aged 50 - 85 then you may consider this type of policy as the premiums aren’t affected by your health.
While it may be difficult to secure an affordable whole of life insurance policy with COPD, it may be possible to secure term life insurance at a good rate if you’re a non-smoker and your condition is well-managed.
If your condition is particularly severe and you need to apply for cover with a specialist insurer, then premiums through our partner The Exeter start from just £15 a month » .
The cost of life insurance varies greatly between insurers so it’s important to compare multiple quotes.
Compare our best life insurance for COPD quotes by using our award-winning, fee-free broker service.
Applying for life insurance with COPD will require you to answer some additional questions about your condition.
The information you provide will allow the insurer to determine the level of risk you pose and whether to accept your application (and if accepted, the cost of your premiums).
Some common questions include:
The more detail you can provide about your COPD, the quicker it will take to complete your application and find out the outcome.
What happens if I don’t disclose COPD during the application?
If you don’t disclose that you have COPD, then this will invalidate your life insurance policy and a pay out would be denied when you pass away.
For this reason, it’s really important to be 100% honest and accurate on your application form and while providing information about your COPD.
No, not necessarily. You may not need to have a full medical exam to take out life insurance with COPD.
Generally, insurers can offer you a policy straight away based on the information you provide during the application process.
If you apply for cover and the insurer can’t make an immediate decision, then they’ll postpone your application while obtaining more information about your health.
For a more detailed picture of your health, they could ask for one of the following:
If you’re asked to undergo a mini screening or a full medical exam, then this will be carried out at a time and place convenient for you. The insurer will also cover the cost.
If you’re a smoker with COPD then you’ll probably be declined by mainstream insurers for standard types of life insurance.
This is because cigarette smoking is the number one cause of COPD and continuing to smoke will worsen the condition.
You may be able to secure life insurance if you’ve given up smoking and have been smoke-free for at least 12 months (and your COPD is well-managed).
However, some insurers will still consider you a smoker up to 5 years after you’ve quit.
We have written a dedicated life insurance for smokers guide if you need more information »
Typically, people with COPD are diagnosed later in life as this is when symptoms start to appear.
As a result, you may be in your 60s, 70s or even 80s looking for life insurance protection for the first time.
Standard life insurance or even specialist life insurance may be too expensive or simply unsuitable for you due to your age.
However, if you’d like to leave behind some money for your funeral or as an inheritance, then you may consider an over 50s plan.
This type of policy is quite popular among senior citizens with pre-existing medical conditions.
This is because it guarantees acceptance if you’re aged 50 - 85 and you don’t have to provide any medical information during the application process.
Your premiums would be calculated based on your age, the level of cover you need and your smoking status (depending on the insurer).
The table below shows how much cover you could secure at each age, with an over 50s plan, for an example premium price of £20 per month. Quotes are based on a non-smoker:
Contact Reassured for your free, personalised over 50s life insurance quotes.
COPD sufferers may be able to take out critical illness cover to protect their income should they become seriously ill.
Critical illness cover provides a cash pay out if you’re diagnosed with a specified critical illness while the policy is active.
Critical illness cover can be taken out as part of your life insurance policy for an additional cost.
It covers a wide range of specified illnesses such as some cancers, stroke, heart attack, blindness and multiple sclerosis.
If you have COPD, it may exclude this condition and any associated illnesses. This means you won’t be able to claim for these reasons.
Get in touch with Reassured for your free critical illness cover with COPD quotes to see if this could be an option for you.
Yes, some insurers class COPD as a critical illness, but only in severe cases.
The specific illnesses covered under your policy will be included in your policy conditions.
As mentioned, if you’ve been diagnosed with COPD prior to taking out critical illness cover, then it’s likely that this condition will be excluded from your policy.
If you’re diagnosed with COPD after taking out critical illness cover, and it’s one of the illnesses covered under your policy, you should be able to make a claim.
COPD may be classed as a terminal illness by insurers if your condition has progressed to a stage where you’re expected to live less than 12 months.
In this instance, if your life insurance includes terminal illness cover, then you could make an early claim on your policy and a pay out will made.
Once the policy pays out, your life cover will come to an end.
If you need help arranging life insurance with COPD then get in touch with our expert broker service.
Here at Reassured, we’re able to identify the best insurers for people with lung conditions from our panel of mainstream and specialist insurers.
We also have a dedicated impaired life insurance team, who are on hand to help applicants that have been declined in the past.
Our award-winning service is fee-free and without obligation. We simply provide all the information you need to make a fully informed decision.
A friendly member of our team can also help you fill in the application form, answer any questions you may have and decipher any jargon.
Get in touch today for your free COPD life insurance quotes, there’s nothing to lose!
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