Can I buy life insurance if I have a lung condition?
Yes, you can still buy life insurance if you have a lung condition. As with other medical conditions, insurance companies will take a holistic look at your diagnosis and the components of your treatment plan to determine your rates.
Generally speaking, lung conditions such as mild asthma — which causes repeated episodes of wheezing, breathlessness, chest tightness, and nighttime or early morning coughing — [1] pose less risk to insurers, so they’re less likely to impact your application process and your premiums.
But conditions that may require supplemental oxygen, like chronic obstructive pulmonary disease (COPD) — a group of conditions, including emphysema and chronic bronchitis, that cause airflow blockage and breathing-related problems — [2] will have a more significant impact on your premiums.
It’s also difficult to get approved for a policy if you have a severe lung condition and smoke. Smoking is a common cause of COPD, and it accounts for up to eight out of every 10 COPD-related deaths, according to the CDC. [3]
When you apply for life insurance, the insurance company will assign you a health classification, which reflects how risky you are to insure. But since each insurer has its own underwriting guidelines, you may get a higher health classification and lower premiums with one company than another.
If you have a lung condition and you’re not sure where to start, a Policygenius expert can help you compare options from top life insurance companies in one place.
Ready to shop for life insurance for people with lung conditions?
Best life insurance companies for lung conditions
Best for asthma: Banner Life
Best for COPD: Corebridge Financial
Best for bronchiectasis: Corebridge Financial
Best for lung conditions if you need supplemental oxygen: Mutual of Omaha
Methodology: How we chose the best life insurance companies for people with lung conditions of 2023
We don't get paid for our company reviews and use an extensive rubric of criteria covering policy details, price, financial confidence, third-party ratings, and customer experience to assign unbiased ratings out of five stars. Any recommendations we make are based on internal and external expert opinions and data from our Policygenius Price Index, which uses real-time rate data from leading life insurance companies to determine pricing trends.
Our ratings and reviews can help point you to an insurer you can rely on for your family’s financial protection, but the best life insurance company for you is dependent on multiple factors. A licensed agent at Policygenius can work with you through the application process so you’re getting coverage from the best insurer for your circumstances at the most competitive price.
Best life insurance for asthma
2023 Policygenius award winner
Banner Life
4.9
30+ year terms
All 50 states
No-medical-exam option
Why we chose it
Banner Life has some of the longest term lengths — up to 40 years — and most competitive life insurance rates available, even for people with a history of medical conditions.
Pros and cons
Pros
Competitive rates for a variety of health conditions
Fast instant-decision option for qualifying applicants
Variety of term lengths up to 40 years
Cons
Application underwriting can take longer than average
Does not have the most competitive rates for older applicants
Banner Life can offer up to Preferred Plus rates — the top health classification — for people with mild or exercise-induced asthma.
If you take albuterol or another bronchodilator daily, you can qualify for up to Standard rates — the third best health classification.
If your asthma is severe and you experience asthma attacks that require hospital visits, your premiums will be higher. Banner Life offers competitive rates across many of its health classifications, so you’ll likely pay less with Banner Life than with another insurance company.
Best life insurance for COPD
2023 Policygenius award winner
Corebridge Financial
4.6
30+ year terms
All 50 states
Why we chose it
With competitive pricing and a range of flexible term periods for its Select-a-Term product, Corebridge is a solid option for many life insurance shoppers. Note: We are currently using AIG’s financial strength ratings until Corebridge has its own rating..
Pros and cons
Pros
Competitive pricing for all ages
Favorable underwriting for people with heart conditions and diabetes
Good for current and recently pregnant people, including people with gestational diabetes
Cons
Not the best for people with mental health conditions, including anxiety and depression
No no-medical-exam term option
Corebridge Financial (formerly AIG Life & Retirement) can offer up to Standard rates for people who have only mild changes in lung function due to their COPD. To qualify for Standard rates, you cannot have been treated with oxygen in the past.
If you’re experiencing moderate symptoms and taking a medication such as albuterol or Pulmicort (budesonide) daily, you may see a Substandard or table rated health classification.
Best life insurance for bronchiectasis
Corebridge Financial
If you experience bronchiectasis — a condition that occurs when you have weakened or damaged airways [4] — Corebridge Financial can offer up to Standard rates.
The insurer will inquire whether or not surgery is needed to repair your airways — if it is, you’ll have to wait until after the procedure to apply.
If you have bronchiectasis and also smoke, you’ll likely only qualify for final expense insurance, as opposed to term life. (This is true for smokers with other lung conditions as well.)
→ Learn more about final expense insurance
Best life insurance for lung conditions if you need supplemental oxygen
Mutual of Omaha
4.5
No-medical-exam option
Why we chose it
Mutual of Omaha is a reputable company that offers a variety of life insurance products — including a no-medical-exam option — so that you can select the type of life insurance that best suits your needs.
Pros and cons
Pros
No-medical-exam options for older applicants
Strong financial and customer ratings
Cons
Policies are more expensive than average
Slow turnaround time
If you’re a current smoker and have a lung condition, or if you require supplemental oxygen, Mutual of Omaha is likely your best choice.
Mutual of Omaha has a guaranteed issue whole life insurance option, and can offer up to $25,000 in coverage, even if you’re managing a higher-risk lung condition.
There’s no medical exam or medical requirements to apply, but the product is only available to people age 45 and up.
→Learn more about guaranteed issue life insurance
How much does life insurance cost if you have a lung condition?
20-year term life insurance rates for people with mild asthma
If you have fairly mild or exercise-induced asthma, you may qualify for the rates below. People who qualify for these rates typically use an inhaler on occasion but don’t require additional daily medication, and they don’t smoke.
Age | Gender | $500,000 coverage amount |
25 | Female | $20.91 |
Male | $26.97 | |
35 | Female | $25.55 |
Male | $30.51 | |
45 | Female | $48.13 |
Male | $61.17 | |
55 | Female | $110.50 |
Male | $152.60 |
Methodology: Approximate monthly rates are calculated for male and female non-smokers obtaining a $500,000, 20-year term policy. Rates for asthma can vary depending on severity and treatment details. Rates shown were calculated using a Preferred health rating. Quotes are based on a composite of policies from Banner Life, Corebridge Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 06/01/2023.
20-year term life insurance rates for people with moderate asthma
If you have asthma and require a daily corticosteroid medication, or use a bronchodilator such as albuterol daily, [5] your rates will likely be comparable to those below.
Age | Gender | $500,000 coverage amount |
25 | Female | $31.91 |
Male | $38.87 | |
35 | Female | $38.18 |
Male | $46.34 | |
45 | Female | $77.37 |
Male | $96.95 | |
55 | Female | $171.45 |
Male | $241.77 |
Methodology: Approximate monthly rates are calculated for male and female non-smokers obtaining a $500,000, 20-year term policy. Rates for asthma can vary depending on severity and treatment details. Rates shown were calculated using a Standard health rating. Quotes are based on a composite of policies from Banner Life, Corebridge Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 06/01/2023.
20-year term life insurance rates for people with mild COPD or bronchiectasis
If you have COPD or bronchiectasis with mild symptoms, you’re a non-smoker, and you don’t require oxygen, you can qualify for up to the rates below.
Age | Gender | $500,000 coverage amount |
25 | Female | $31.91 |
Male | $38.87 | |
35 | Female | $38.18 |
Male | $46.34 | |
45 | Female | $77.37 |
Male | $96.95 | |
55 | Female | $171.45 |
Male | $241.77 |
Methodology: Approximate monthly rates are calculated for a male and female non-smokers obtaining a $500,000, 20-year term policy. Rates for COPD and bronchiectasis can vary widely based on severity and treatment details. Rates shown were calculated using a Standard health rating. Quotes are based on a composite of policies from Banner Life, Corebridge Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 06/01/2023.
20-year term life insurance rates for people with moderate to severe COPD or bronchiectasis
If your COPD or bronchiectasis is moderate to severe, you take a medication like albuterol or Pulmicort daily, [6] and you don’t smoke, you’ll likely qualify for these rates.
Age | Gender | $500,000 coverage amount |
25 | Female | $58.83 |
Male | $73.30 | |
35 | Female | $72.53 |
Male | $89.45 | |
45 | Female | $151.52 |
Male | $186.55 | |
55 | Female | $332.68 |
Male | $464.23 |
Methodology: Approximate monthly rates are calculated for male and female non-smokers obtaining a $500,000, 20-year term policy. Rates for COPD and bronchiectasis can vary widely based on health history and disease progression. Rates shown were calculated using a Substandard T4 table rating. Quotes are based on a composite of policies from Banner Life, Corebridge Financial, Lincoln Financial, Mutual of Omaha, Pacific Life, Protective, Prudential, Symetra, and Transamerica. Not all policies are available in all states. Rate illustration valid as of 06/01/2023.
How to buy life insurance if you have a lung condition
Buying life insurance with a lung condition is similar to buying life insurance with any other health pre-existing condition.
Life insurance companies use your medical history — in addition to your age, gender, and lifestyle factors — to assess risk and set your rate.
You’ll start by filling out an application with initial health information.
Next, you’ll likely take a medical exam, which is a common requirement of the life insurance application process. If you have mild asthma, you may not need to take an in-person exam. Instead, you’d answer a few additional health questions over the phone or online.
If the insurer requires more information to make a decision, they may request an attending physician statement (APS).
After underwriting, you’ll receive your offer from the insurance company and can decide if you’d like to pay the first premium to put your policy in force
Underwriting typically takes between four and six weeks, but it may take longer if the insurer needs additional information from your doctor.
What will insurers ask about your lung condition?
Insurance companies will ask a series of questions to determine how risky your lung condition would make you to insure. The details you provide on your application will include basic information such as:
The date of your diagnosis
Any symptoms you experience
Any history of surgery related to your lung condition
Names and dosages of medications
Additional details will vary by condition. For instance, if you have COPD, you’ll likely be asked to answer the following questions.
Have you had a chest X-ray or CT scan done recently? What were the results?
Have you had a pulmonary function test (PFT)? [7]
What was the FEV1/FVC percentage? [8]
Do you use an oxygen machine at home?
If you have asthma, you’ll likely answer these additional questions.
What triggers your asthma (exercise, allergies, weather)?
Do you smoke?
What medications are you taking?
Have you been hospitalized or needed emergency care due to asthma?
Do you use a machine to help you breathe at home?
The exact details will depend on the specific condition and your unique circumstances.
Why is it important to disclose your lung condition when applying for life insurance?
Life insurance companies use a variety of factors to assess risk and determine your rate. When you apply for life insurance, you’ll fill out a health questionnaire and likely take an in-person medical exam.
Life insurance companies also cross-reference your information with the Medical Information Bureau (MIB) to protect against fraud.
Lying or omitting information on your application is a type of life insurance fraud, which could cause your application to be rejected, or prevent you from applying in the future.
Providing accurate information upfront also helps your life insurance agent match you to the insurance company that will give you the best rates for your specific circumstances.
Best life insurance policy types if you have a lung condition
The best type of life insurance policy for you will depend on your financial needs and goals, in addition to any health conditions that may impact the types of policies available to you.
If you’re not sure which type of life insurance is best for your specific situation, a Policygenius expert can help you compare options.
Term life
Term life is one of the most affordable life insurance coverage options on the market. It only lasts for a set term and comes with few rules and tax restrictions.
Term life is the best option for most people looking to protect their income and provide their family with a financial safety net to cover any debts — including a mortgage or any other type of personal loans.
→ Learn more about term life insurance
Whole life
Whole life and other types of permanent life insurance are good options for people looking to use life insurance to diversify their investment portfolio or those with long-term financial obligations or coverage needs, like dependents who require lifelong care.
Whole life never expires and comes with a cash value that earns interest in addition to the death benefit payout. It’s usually five to 15 times more expensive than traditional term policies.
If you’re already maximizing your contributions to tax-advantaged accounts like a Roth IRA or a 401(k) and are seeking another investment option, whole life might work for you.
→ Learn more about whole life insurance
Living benefit riders
Living benefit riders on life insurance are add-ons to your policy that ensure some of your life insurance death benefit is accessible while you’re alive if you meet certain criteria.
Most companies offer an accelerated death benefit rider for terminal illness, which allows you to access a portion of your death benefit while still alive if diagnosed with a qualifying terminal illness..
Each company has its own criteria for when the rider is activated, but most riders are activated when you’re diagnosed with a terminal illness and expected to have six to 24 months to live.
Other living benefits riders, including long-term care riders, may not be available to people with certain high-risk health conditions.
→ Learn more about life insurance riders
Life insurance options if you’re denied coverage
If you don’t qualify for traditional term life insurance or whole life insurance — for health reasons or otherwise — you still have coverage options.
Final expense insurance
Final expense insurance, also known as burial insurance, is a type of life insurance intended to cover end-of-life expenses like a funeral or outstanding medical debts. Coverage limits are low, usually between $25,000 and $40,000.
Final expense policies are easier to qualify for than traditional policies if you have a serious lung condition. There are two types.
Simplified issue life insurance: Simplified issue whole life insurance doesn’t require a medical exam and instead relies on a medical questionnaire. There are fewer medical requirements for simplified issue life insurance than traditional policies.
Guaranteed issue life insurance: It’s a type of whole life insurance that offers almost-certain approval as it doesn’t ask medical questions. You’ll just need to answer a few qualifying questions with a life insurance agent. Premiums are higher than traditional or simplified issue life insurance. In most cases, you have to be over age 45 to apply.
Group life insurance
People with lung conditions who don’t qualify for traditional term or whole life insurance may still be able to get covered through group life insurance.
Group life insurance, also called employer-sponsored life insurance, is a policy that covers you through work or a trade organization. These policies generally don’t have medical requirements, though coverage is usually only one or two times your salary.
Other health concerns that can affect your life insurance
Certain pre-existing conditions and other health-related concerns can affect your life insurance options or costs. A Policygenius expert can help you find the right policy for your needs.
Mental health issues such as depression or anxiety
Frequently asked questions
Do lung conditions affect life insurance?
Yes, lung conditions can affect your life insurance rates and the types of policies available to you (as do other pre-existing conditions).
Can you get life insurance with COPD?
Yes, you can get life insurance with a COPD diagnosis. The type of policy you qualify for will depend on the severity of your condition, whether or not you smoke, and whether or not you require supplemental oxygen.
Can you get life insurance if you have asthma?
Yes, you can get life insurance if you have asthma. Mild asthma will have little to no impact on your rates, but if you’ve been hospitalized due to asthma, you’ll likely pay more in premiums.
