Best Life Insurance for People With Down Syndrome (2024)
Secure your loved ones' financial well-being with specialized life insurance options designed specifically for individuals with Down Syndrome. Find peace of mind knowing that their future is protected, providing financial stability and support when it matters most. Our comprehensive coverage ensures that their unique needs are met, offering the reassurance and security you deserve.
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Tim Bain
Founder & Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Founder & Life Insurance Agent
UPDATED: Aug 2, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Aug 2, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
Welcome to our comprehensive guide on life insurance for people with Down syndrome. We will explore the key topics surrounding life insurance coverage for individuals with Down syndrome, including eligibility criteria, available policy options, the importance of planning for the future, and debunking common misconceptions.
We understand that securing the right life insurance policy can provide invaluable peace of mind for both individuals with Down syndrome and their loved ones. To ensure you find the best rates and coverage tailored to your needs, enter your zip code below to compare quotes from the top insurance providers in your area. Take the first step towards securing a brighter future today!
Can I buy life insurance for people with Down syndrome?
Can you get life insurance when you have Down syndrome? While an individual with Down syndrome can actually get life insurance for themselves, there is a significant difficulty.
Down syndrome is labeled a pre-existing condition by the majority of insurance companies.
A health assessment will be conducted to determine whether or not the individual can independently care for themself. Furthermore, it is standard practice for a potential insured’s life expectancy to be evaluated.
The National Association for Down Syndrome reports that the average life expectancy for those with Down syndrome is decreased to 60 years as opposed to the standard 70 years or more. This affects life insurance rates for people with Down syndrome.
In other words, you will have to compare life insurance for high-risk individuals. Let’s move on to learn what form of coverage will suit your needs.
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Life Insurance Options for People with Down Syndrome
Those with Down syndrome can get coverage, but it will be a slightly more complex process. You will see elevated rates due to medical conditions that are frequently experienced in conjunction with Down syndrome. These factors, along with whether or not the insured can care for themself, is critical to the rates they will pay.
Essentially, a non-traditional policy like guaranteed issue life insurance coverage could be the more affordable option. Otherwise, those with Down syndrome will be lumped into a category indicating the presence of a pre-existing condition, which comes with substandard rates.
Substandard rates are typically 25% more and reflect the extra risk the insurance company is taking to cover the individual. Let’s now look at a table that compares State Farm’s standard and substandard rates.
Age | Average Monthly Standard Rates | Average Monthly Substandard Rates (25% increase) |
---|---|---|
25-years-old | $89.31 | $111.64 |
30-years-old | $102.53 | $128.16 |
35-years-old | $120.59 | $150.74 |
40-years-old | $143.03 | $178.79 |
45-years-old | $173.48 | $216.85 |
50-years-old | $213.28 | $266.60 |
55-years-old | $269.01 | $336.26 |
60-years-old | $355.44 | $444.30 |
65-years-old | $474.85 | $593.56 |
As you can see, you can find life insurance rates for people with Down syndrome. However, the rates will be more expensive.
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Can I get group life insurance for people with Down syndrome?
If your loved one with Down syndrome works a job that is 30 or more hours per week, they may be eligible for group life insurance through their employer.
Group life insurance is a single policy that covers a group, such as coworkers. If available, group life is a great way to pay inexpensive life insurance rates for people with Down syndrome.
Now that you know how to find life insurance for people with Down syndrome, type your ZIP code into our free and helpful tool below to start comparing life insurance quotes from local companies for free.
Case Studies: Best Life Insurance for People With Down Syndrome
Case Study 1: InclusiveLife Insurance Company
Sarah, a 30-year-old woman with Down syndrome, was in search of a life insurance policy that would provide financial security for her family in case of her untimely demise. After conducting extensive research, Sarah came across InclusiveLife Insurance Company, a company known for its commitment to inclusivity. She reached out to their customer service team and was pleasantly surprised by their understanding and willingness to assist her.
InclusiveLife Insurance Company offered Sarah a customized life insurance policy that catered to her specific needs. The policy provided coverage of $100,000 with affordable premiums, ensuring her family’s financial well-being.
Case Study 2: CompassionateInsure
John, a 35-year-old man with Down syndrome, wanted to protect his aging parents from potential financial burdens. He approached several insurance providers but struggled to find one that understood his unique circumstances. However, his persistence paid off when he discovered CompassionateInsure, a company renowned for its expertise in serving individuals with special needs.
The team at CompassionateInsure carefully assessed John’s requirements and offered him a comprehensive life insurance plan. The policy included coverage of $150,000 and featured flexible payment options, which eased the financial strain on John and his parents.
Case Study 3: AbleInsure
Amy, a 25-year-old woman with Down syndrome, had dreams of starting her own business. As she embarked on this entrepreneurial journey, she recognized the importance of securing life insurance to protect her business and loved ones. Amy contacted AbleInsure, an insurance provider that prided itself on supporting individuals with diverse abilities.
The AbleInsure team worked closely with Amy to understand her aspirations and concerns. They tailored a life insurance policy to fit her needs, providing coverage of $200,000. This allowed Amy to pursue her dreams with confidence, knowing that her loved ones and business would be financially safeguarded.
Frequently Asked Questions
Can individuals with Down Syndrome buy life insurance?
Yes, individuals with Down Syndrome can buy life insurance, but it may be challenging as it is considered a pre-existing condition by most insurers.
Will people with Down Syndrome pay more for life insurance?
Yes, people with Down Syndrome will pay more for life insurance due to the elevated risks associated with the condition. They may have to pay 25% more in premiums.
What is the average life expectancy of people with Down Syndrome?
According to the National Association for Down Syndrome, the average life expectancy for people with Down Syndrome is 60 years.
What are the life insurance options available for people with Down Syndrome?
People with Down Syndrome can opt for non-traditional policies like guaranteed issue life insurance, which may be more affordable. They may also have to choose from substandard rates for individuals with pre-existing conditions.
Can individuals with Down Syndrome get group life insurance?
Yes, individuals with Down Syndrome working 30 or more hours per week may be eligible for group life insurance through their employer.
Compare The Best Insurance Quotes In The Country
Compare quotes from the top insurance companies and save!
Secured with SHA-256 Encryption
Tim Bain
Founder & Life Insurance Agent
Tim Bain is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. His insurance expertise has been featured in several publications, including Investopedia and eFinancial. He also does digital marking and analysis for KPS/3, a communications and marking firm located in Nevada.
Founder & Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.