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Life Insurance and Health Conditions: A Deal Breaker?

Whether you’re a young adult, stay-at-home parent or a retiree, you likely have a need for life insurance.


But wading through multiple policy options, benefit amounts, premiums and riders can be overwhelming. Does whole life or term life make more sense at this point in my life? Do I need $50,000 in coverage, $500,000 or even more? (Hint: visiting ERIE’s life insurance calculator may help.)


Combine that with concerns about health conditions you may have and it’s enough to deter a lot of folks from even exploring their options.


A 2021 study1 from Life Happens found that 7 in 10 Americans say they “personally need life coverage”, yet only 52% of American adults actually have some type of life insurance coverage. One of the reasons often cited for not having it is that people wrongly assume they won’t qualify. (Check out ERIE’s list of five more reasons why people hold off buying life insurance.)


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