TAMPA, Fla., Dec. 30, 2024 /PRNewswire/ -- In a recent report on life insurance for individuals with disabilities, Prudential was ranked number one with an average monthly premium of $100.

Disabilities differ, and an individual's access to life insurance products will depend on how their disability impacts their life expectancy. While discriminating based on disabilities is illegal in many sectors, life insurance companies must base eligibility on the risk of death. If a disability increases that risk, a disabled person may not have access to all life insurance policies.

Top 10 Life Insurers for Disabled People

Prudential faces competitors in writing policies for disabled individuals. QuickQuote.com's top 10 list is as follows:

• Prudential
• New York Life
• Banner Life
• Lincoln Financial Group
• Transamerica
• Guardian
• AIG
• State Farm
• USAA
• Mutual of Omaha

Each of these companies offers a wide range of policy products and options.

Life Insurance Based on Health

Many individuals with disabilities have the same life expectancy as those without disabilities. If a disability does not impact life expectancy, the disabled individual should find competitive life insurance options easily.

Disabled life insurance applicants must answer the same health questions and undergo the same exams as all applicants. Some disabilities are secondary to other health events that may impact eligibility for coverage. Some disabilities increase other risk factors related to life expectancy.

Melanie Musson, a life insurance expert with QuickQuote.com, reminds those with disabilities to "get several quotes because premiums and eligibility can vary greatly between individuals with special circumstances."

Life Insurance Options for Disabled People

Term life insurance offers policyholders the highest level of coverage for the money. If an applicant's risk falls within an acceptable range, they can purchase a policy. If their risk is too high, they will not be offered coverage.

Permanent or whole life insurance products are available to disabled individuals who fit the acceptable risk.

If a disabled individual is not eligible for standard term or permanent life insurance, there may be other options. Some employers offer life group life insurance where employees can obtain coverage without a health exam.

Guaranteed issue life insurance is another option for those who can't get a standard policy. These policies have a high premium-to-benefit ratio.

Read QuickQuote.com's entire report here: Best Life Insurance for People With Disabilities in 2024 (Our Top 10 Picks).

SOURCE QuickQuote.com