Organ transplants are a life-saving procedure that impacts thousands of people in the U.S. each year, with over 46,000 transplants performed in 2023 alone. If you’ve undergone an organ transplant, your considerations for life insurance will be significantly different than those who have not.
Understanding these considerations is an important aspect of finding your loved ones the financial security and protection they need in the event of your unexpected passing. In this article, we’ll explore how being a transplant patient affects life insurance eligibility and discuss the coverage options available to transplant patients.
How Being a Transplant Patient Affects Life Insurance Eligibility
Being a transplant patient can have various implications on obtaining life insurance, as life insurance carriers will consider you inherently more risky to insure. Here’s an overview of the different ways in which undergoing a transplant can impact your life insurance coverage:
Type of Transplant: Life insurance carriers will have different considerations depending on the type of transplant you received. For example, patients who undergo a procedure with a lower failure rate, like a kidney transplant, will have more coverage options than those who undergo riskier procedures, such as a heart or lung transplant. Carriers may also impose certain restrictions depending on the type of transplant. For instance, most kidney transplant patients can qualify for traditional coverage, but they must demonstrate that they maintained controlled health for a certain period of time after a transplant before applying for coverage (typically three years).
Type of Donor: How the organ was donated can have an effect on mortality risk. Certain organs can only be donated by a deceased donor, while a procedure like a kidney or liver transplant can be performed with an organ from a living donor. Organs from living donors may give better survival rates than cadaver organs, so carriers may take this into account when evaluating your risk.1,2
Prognosis: Carriers will also consider your prognosis and mortality risk after the transplant. If your prognosis is positive, you’ll likely receive more favorable rates and have more coverage options.
Life Insurance Options for Transplant Patients
The right amount of life insurance coverage as a transplant patient will depend on various factors, like the type of transplant you receive and your prognosis. For example, it’s more likely for people with liver or kidney transplants to be able to qualify for traditional term or permanent life insurance, while people who undergo riskier procedures, like a heart or lung transplant, will typically be rejected for traditional life insurance and will want to explore other options.
If you are rejected for traditional life insurance as a transplant patient, you may want to consider final expense insurance, as these policies have limited or no medical exam requirements. Here’s a look at the three primary types of final expense insurance:
Guaranteed Issue: Guaranteed issue life insurance is a type of whole life insurance policy that allows individuals to obtain coverage without being subjected to health questions or medical exams. This makes it easier for organ transplant recipients to secure coverage without facing potential denials based on their medical background.
Simplified Issue: Simplified issue life insurance is a type of life insurance that offers a simplified application process by eliminating the need for a medical exam and extensive health questions. By providing a streamlined process and accessible coverage, simplified issue life insurance helps organ transplant recipients ensure financial security for their loved ones, addressing the potential gaps in traditional insurance options.
Critical Issue: Critical issue life insurance is a type of life insurance that provides coverage for individuals with pre-existing health conditions or other high-risk factors. This type of insurance is designed for individuals who may have difficulty obtaining traditional life insurance due to their health status, including transplant patients.
SelectQuote Can Help People With Complex Medical Histories Find Life Insurance
Undergoing an organ transplant is a serious and potentially life-saving event, and the last thing you want to be thinking about is finding life insurance coverage. Fortunately, SelectQuote’s experienced licensed insurance agents can take on the heavy lifting for you and help you find your loved ones the protection they need. We’ll provide you with unbiased rates from dozens of trusted carriers in just minutes, finding you the right coverage for your situation so you’ll have one less thing to worry about.
