Life insurance is an essential part of most people’s overall financial planning. Without it, loved ones could end up in a desperate situation, often in debt and / or without an ongoing income source.
For many, applying and getting accepted for the coverage that they need is not difficult. But, for those who have certain types of health issues such as diabetes, high cholesterol or if you’re wondering if you can get life insurance with COPD, the process could be made more difficult. The same goes for those who take various medications such as Welchol for the management or controlling of such health issues.
The good news is that because there are many carriers in the marketplace today – and because not all insurers will underwrite their applicants in an identical manner – there are more options available for applicants.
How Taking Welchol Can Affect a Person’s Life Insurance Application
Welchol – also sold under the generic name of Colesevelam HCL – is used, in conjunction with a proper diet and exercise – to help in lowering cholesterol in those who have high cholesterol in their blood. The lowering of cholesterol can help to decrease the risk of heart disease. It can also help in preventing the risk of heart attack and stroke.
This medication is also oftentimes used for the lowering of high blood sugar in those who have type 2 diabetes. The control of one’s high blood sugar can be helpful for the prevention of kidney damage, as well as in the prevention of blindness, nerve issues, the loss of limbs, and sexual function problems that can often accompany type 2 diabetes. The proper controlling of type 2 diabetes can also help in lessening one’s risk of having a heart attack and / or a stroke.
Welchol is taking by mouth one or two times per day, typically with a meal. It comes in tablet form, and should be taken with a liquid such as milk or water. For those who may have difficulty in swallowing pills, the medication may also be given in powder form.
This medication is a member of the family of drugs called bile acid-binding resins. Bile acid is a type of natural substance that is produced by the human liver by using cholesterol. Welchol works in removing bile acid from the human body, which in turn, causes the liver to produce more bile by using cholesterol – which then reduces the body’s level of cholesterol in the blood. At this time, it is not known how the medication works to lower blood sugar levels in the body.
For those who have type 2 diabetes and / or high cholesterol level and are applying for live insurance coverage, the insurance company underwriters will need to know more information regarding your overall health condition, as well as about the medications that you are taking to manage your condition such as Welchol.
What Will the Life Insurance Underwriters Want to Know About You
Those who are applying for life insurance coverage will need to complete an application. Here, basic information will be requested, such as name, age, gender, and overall health history and condition.
Those applying for life insurance with type 2 diabetes – and most other types of health conditions – and who take certain medications, will also typically be required to answer additional questions such as the following:
- When were you initially prescribed the Welchol for your type 2 diabetes and / or for high cholesterol?
- What was the initial amount of your Welchol dosage?
- Has the amount of your Welchol dosage increased or decreased over time?
- How – and how well – has Welchol helped in managing or controlling your type 2 diabetes and / or your high cholesterol?
- What are your most recent A1C levels?
- What are your most recent blood sugar levels?
- What are your most recent cholesterol levels?
- Have you had any relevant testing performed within the past six months due to your type 2 diabetes and / or your high cholesterol condition?
- Have you been hospitalized within the past 12 months due to your type 2 diabetes and / or your high cholesterol condition?
It is probable that the underwriters at the insurance company will want to review your medical records from your primary care physician, as well as from any specialist that you see for your type 2 diabetes and / or for your high cholesterol.
You will also likely be required to undergo a medical exam as a part of the underwriting process. During the exam, you will be asked to submit a blood and a urine sample. These will be tested by the insurance company for any additional health-related risk factors.
What Will the Premium Cost of Your Life Insurance Coverage Be?
Once your information has been received, a determination can be made regarding your policy and premium price. If you are considered to be in good health, other than your diabetes and / or high cholesterol, then you could qualify for a Standard policy, along with an average premium rate.
If you are deemed to be in below average health, however, you will likely be given a Substandard policy class, along with a higher premium rate. For those who are declined for medically underwritten coverage, another option could be to go with a no medical exam policy. While the premium on these types of policies is higher, it could provide you with an option for the life insurance protection that you need.
How to Find Premium Quotes on Life Insurance for People Taking Welchol
When seeking life insurance coverage for people taking Welchol, it is best to work with a company or agency that has access to more than just one life insurance carrier. That being the case, we can help. We work with multiple carriers and can point you in the right direction. So, when you’re ready to move forward, just get started by filling out the short form on this page.
If you have any additional questions, please feel free to contact us directly via phone, toll-free, by calling 888-229-7522. Even if you’ve been turned down in the past for life insurance coverage, now you have many options. So, contact us today – we’re here to help.