Life Insurance for Alzheimer’s Patients

Life insurance for Alzheimer's patients is complicated because an insurance company cannot determine whether or not the individual is even of sound mind to enter a legal insurance contract. It would be for the best that you go with the less traditional guaranteed issue life insurance or long-term care coverage to act as elderly care insurance.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Jul 16, 2021

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The Rundown

  • Alzheimer’s patients cannot receive a traditional policy
  • Guaranteed issue life insurance pays out upon a natural death
  • Those with Alzheimer’s will be considered high-risk by the insurance company

Can you buy life insurance for Alzheimer’s patients in your family? Are the rates higher for someone with Alzheimer’s?

We’ll answer not only these questions but also discuss life insurance for high-risk individuals and how to qualify for life insurance when suffering from Alzheimer’s in our guide below.

Before you buy life insurance for Alzheimer’s patients, type your ZIP code into our free and helpful tool above. With it, you’ll find the cheapest life insurance rates for Alzheimer’s patients in your area.

Can I qualify for life insurance with Alzheimer’s?

Alzheimer’s will be labeled a pre-existing medical condition by your insurance company. What does this mean? This means you will almost certainly be denied a traditional term or whole life insurance policy.

Even if you do get one, you’ll be paying substandard rates, which are typically 25% more. Here’s a table showing the difference.

Monthly Standard vs. Substandard Rates for People with Down Syndrome
AgeAverage Monthly Standard RatesAverage 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
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What can you do to get life insurance for Alzheimer’s patients? Consider an alternative like guaranteed issue life insurance or an accidental death policy. That way you will have at least some coverage.

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Why do life insurance companies label Alzheimer’s high-risk?

All insurance companies are focused on primarily one thing: risk assessment. Why is Alzheimer’s such a big risk?

According to the National Institute on Aging, Alzheimer’s results in aggression, mood swings, mental decline, difficulty thinking, delusions, and difficulty driving.

An insurance company is going to look at those and charge higher premiums or deny coverage due to your risk level.

Guaranteed Issue Life Insurance For Alzheimer’s Patients

Guaranteed issue life insurance is genuine, and it will cover you, but there’s a catch. The insured must live beyond a waiting period determined by the insurance provider.

Once the waiting period is through, guaranteed issue will pay out only in the case of natural death. If this is something that is anticipated, guaranteed issue is the way to go.

Let’s now look at a table showing the rates for guaranteed issue life insurance offered to men and women of various ages.

Average Monthly Guaranteed Issue Life Insurance Rates by Age, Gender, and $25K Coverage Limit
Age at PurchaseAverage Monthly Life Insurance Rates (Female)Average Monthly Life Insurance Rates (Male)
40$96.67$119.58
50$84.79$108.85
60$126.27$158.35
70$187.46$246.58
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As you can see, males consistently pay more than females. Still, these rates are lower than they would be for most traditional life insurance policies.

Now that you know how to buy life insurance for Alzheimer’s patients, start comparing life insurance quotes to get the best rates. Type your ZIP code into our free and helpful tool below to find affordable life insurance for Alzheimer’s patients from companies in your area.

Frequently Asked Questions: Life Insurance for Alzheimer’s Patients

What follows are a few frequently asked questions about Alzheimer’s life insurance.

#1 – Can I get life insurance over 80 with no medical exam?

Not likely. For example, if you’re shopping for dementia insurance coverage at 80, the chances are slim. Furthermore, the rates will be astronomical.

#2 – Can I get elderly care insurance or nursing home insurance?

Yes. Consider shopping for long-term care insurance to get the elderly care coverage you need.

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