Life Insurance Guide for Autistic Children (2024)
Getting life insurance for an autistic child does not have to be difficult. You can try and take out a life insurance policy on your autistic child, or you could take out a life insurance policy on yourself and ensure your child gets the benefits of the policy.
Free Life Insurance Comparison
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Feb 13, 2024
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 provider and cannot guarantee quotes from any single provider.
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 on this page 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: Feb 13, 2024
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 provider and cannot guarantee quotes from any single provider.
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 on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- If you have a child that has autism, you might be worrying about life insurance for them
- Autism can affect one’s ability to adequately care for themselves, and it can also increase the costs of life insurance
- There are ways to ensure that your child is covered under your life insurance policy, even if you cannot get a separate life insurance policy for them
Life insurance for an autistic child can be stressful to think about. Will your autistic child be able to take care of themselves once you are gone? Can they get a life insurance policy to help cover their needs in the future?
These are all important questions that parents with an autistic child will have. There are ways to get life insurance for you and your family, but if your child doesn’t qualify for life insurance coverage, it’s not the end of the road. You’re able to fill out an application and take control of the situation, and ensure their future is stable.
At the end of the day, life insurance for children with autism is all about protecting their future. We’ll go over the basics and look at some ways you can work around life insurance if your child doesn’t qualify for coverage.
If you’re ready to buy life insurance for your family, enter your ZIP code above to compare quotes. Finding the right life insurance company can be done from the comfort of your own home.
Table of Contents
Can my autistic child get affordable life insurance coverage?
Yes, your autistic child should be able to get life insurance coverage. However, the cost of their life insurance will depend greatly on their overall health condition, how severe their autism is, and if they have any other underlying health issues. There are quite a few resources available should you need to look into how to buy life insurance. You’ll be able to find coverage amounts, the various types of life insurance, and what types of coverage a child should have. (For more information, read our “How to Buy Life Insurance: Expert Guide“).
Children with autism can still be rated above standard by life insurance companies, but this will depend on the company and on the specifics and severity of your child’s autism.
Health Rating Class and Cost of Life Insurance
Rate Class / Risk Class | Basic Pricing |
---|---|
Preferred Plus / Best | 50% of Standard |
Preferred | 63% of Standard |
Standard Plus / Select | 86% of Standard |
Standard | Standard |
As you can see, all health ratings above standard pay less for life insurance. This includes whole life insurance and universal life insurance policies, but it is important to note that these policies are more expensive than term life insurance policies and often have more rigorous medical exam requirements.
Are you looking for free insurance quotes?
Your one-stop online insurance guide. Get free quotes now!
Secured with SHA-256 Encryption
What if I can’t get life insurance for my autistic child?
If you cannot get child life insurance for your autistic child, your best option is to take a life insurance policy out on yourself. The Insurance Information Institute has good resources when it comes to finding the best life insurance policy to meet your needs.
Here are a couple of things to keep in mind. If you intend for your life insurance policy to one day take care of your child when you are gone, make sure that you create a trust for them and name the trust as the policy’s beneficiary. (For more information, read our “Can you name a child as a life insurance beneficiary?“).
Why? Because life insurance benefits could disqualify your child from Medicaid, Medicare, and other assistance programs if they are receiving them as an adult. If there is a trust that slowly pays out the benefits of your life insurance policy over some time, you can ensure their assistance is not disqualified.
Read more: How Life Insurance Impacts Medicaid Eligibility
Also, many insurance policies allow you to add a child rider for a small fee. This could be a great way to get your autistic child life insurance without having to get a policy in their name.
If you’re ready to compare cheap life insurance quotes, enter your ZIP code below. Finding more than one quote can help lead to a more stable financial situation for you and your family.
Read more: Cheap Life Insurance Policies
Exploring Life Insurance for Autistic Children: Fictional Case Studies
Case Study 1: Sarah and Ethan
Sarah is a mother of an autistic child named Ethan. She wants to ensure that Ethan’s future is financially secure even after she is gone. However, she discovers that it is challenging to find a life insurance policy specifically for autistic children.
After consulting with insurance experts, Sarah learns that she can take out a life insurance policy on herself and designate Ethan as the beneficiary. This way, Ethan can receive the benefits of the policy when Sarah passes away.
Case Study 2: Michael and Emily
Michael and Emily have a young daughter, Lily, who is on the autism spectrum. They are concerned about providing for Lily’s financial needs in the future. Despite their efforts to find a life insurance policy that covers autistic children, they are unable to secure coverage for Lily.
As an alternative, they decide to take a life insurance policy on themselves and establish a trust for Lily. By naming the trust as the beneficiary, they can ensure that Lily receives financial support even if she does not qualify for individual life insurance coverage.
Case Study 3: David and Olivia
David and Olivia have a son named Noah, who has autism. They explore various options for obtaining life insurance for Noah, but they find that most policies have stringent medical exam requirements and may disqualify Noah from certain government assistance programs in the future.
In this situation, David and Olivia decide to add a child rider to their existing life insurance policy for a small fee. This allows them to provide life insurance coverage for Noah without requiring a separate policy in his name.
Frequently Asked Questions
Can I purchase life insurance for my autistic child?
Yes, it is possible to purchase life insurance for autistic children. However, the availability and terms of coverage may vary depending on the insurance provider and the specific needs and circumstances of your child.
What types of life insurance policies are available for autistic children?
There are typically two types of life insurance policies available for autistic children: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period, while permanent life insurance offers lifelong coverage and often includes a cash value component.
Will my child’s autism diagnosis affect the cost of life insurance?
The cost of life insurance for autistic children may vary depending on the severity of their condition and other factors. Insurance companies assess the risk associated with insuring individuals with autism differently. It is advisable to obtain quotes from multiple insurance providers to compare prices and coverage options.
Are there any specific requirements or documents needed to apply for life insurance for an autistic child?
Insurance providers may require certain documents or information when applying for life insurance for an autistic child. These may include medical records, diagnosis reports, treatment history, and information about any additional medical conditions or medications. It is best to check with individual insurance companies to understand their specific requirements.
Can I name a guardian or trustee for the life insurance policy of my autistic child?
Yes, you can designate a guardian or trustee for the life insurance policy of your autistic child. This person will be responsible for managing the policy’s proceeds on behalf of your child in the event of your passing.
Are you looking for free insurance quotes?
Your one-stop online insurance guide. Get free quotes now!
Secured with SHA-256 Encryption
Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed 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.