When applying for life insurance, it can sometimes be difficult to obtain the coverage that you need if you have certain adverse health conditions. This is because, depending on the particular condition and its severity, the life insurance company could see it as an additional risk of having to pay out a claim. For those who have asthma, obtaining the life insurance coverage that you need is possible – you just need to know where to look.
Life insurance is an extremely important investment. In fact, it’s one of the best purchases that you can make for your loved ones. A life insurance plan will ensure that they have the resources that they need if something tragic ever happens to you. Nobody likes to think about his or her own death, but it’s vital that you plan for the things that you can’t avoid. We know that finding the perfect life insurance plan can be a long and difficult process, but it doesn’t have to be. Our agents can help connect you with the perfect life insurance policy to meet your needs, even if you have asthma.
Questions You Will Likely Be Asked When Applying for Life Insurance
When obtaining life insurance with asthma, the underwriters will want to know more about your condition in order to get a clearer picture of whether or not you will present more of a risk to the insurer. Some of the questions you are likely to be asked when applying for coverage include the following:
- When was your initial diagnosis of the condition?
- What are the particular asthma symptoms that you suffer from?
- What type of asthma do you suffer from? (i.e., is it allergic or non-allergic asthma? With allergic asthma, your symptoms are typically triggered by external sources such as pollen, dust, or mold, whereas with non-allergic asthma your symptoms are triggered by sources other than allergies such as cold air or exercise).
- How often do you typically suffer from asthma attacks?
- What is the usual severity of your asthma attacks?
- Which medications, if any, have you been prescribed for your condition?
- Have you ever needed to go to the emergency room due to your asthma condition?
- Have you ever been hospitalized due to your asthma condition or due to an asthma attack?
- Have you been restricted from doing any activities due to your condition? If so, which activities?
- Do you currently smoke, or were you a smoker in the past? If you were a smoker in the past, when did you quit smoking?
- In addition to asthma, have you been diagnosed with any other medical conditions?
Other factors that can affect the underwriting of your life insurance application, as well as the premium that you will pay if you are approved can include your:
- Height and weight
- Marital status
- Overall health condition, as well as your family health history, such as a history of diabetes
- Occupation and income (if applicable)
- Hobbies and lifestyle
- Amount of foreign travel
In addition, it is also likely that you will need to submit to a medical exam as a part of the life insurance application process, unless you opt for the no medical exam required insurance policy, that will come with a higher premium rate. This typically entails submitting a blood and urine sample. These samples will be tested for certain health conditions that may also present various risks to the life insurance company. Perhaps you have other health conditions such as someone searching for life insurance with lupus. We can help find the coverage you deserve.
How Much Premium Will You Pay When You Have Asthma?
When you apply for life insurance with asthma, the underwriters will classify your condition into various categories such as mild, moderate, or severe. These categories are based upon the medications that you take, as well as how debilitating the condition is to you.
For example, with mild asthma, you will not typically have any type of disability between your asthma attacks. Likewise, your attacks will occur infrequently and you will not have been hospitalized because of your condition. In addition, the medications that you use will be considered “first line,” meaning that they are basic pills or inhaled bronchodilators.
With moderate asthma, you may have more difficulty in breathing between attacks than you would with a mild case of asthma. Here, the number of asthma attacks that you have may increase over time, and you may also move up to using “second line” medications such as Prednisone or Alupent.
If you have severe asthma, you may have even more frequent hospitalization occurrences, as well as more frequent asthma attacks and more difficulty in breathing between the attacks. You will also likely be using “third line” medications such as a continuous use of either injected or oral steroids.
For those who have mild asthma, you could qualify for a Standard policy rating – and in some cases, there are instances where extremely healthy individuals have been able to qualify for a preferred rate. If you have moderate asthma, you may also be able to obtain a Standard rating if your condition is well controlled. Otherwise, a Substandard rating is more likely and you will be looking at high risk life insurance rates. Those who suffer from severe asthma are typically rated on a case by case basis, but are usually rated as a Substandard as well.
How To Get The Best Life Insurance Rate Possible
In getting the best rate possible, it is important to work with a company that has access to many different life insurance companies’ policies. This way, you can compare policy offerings and premium rates. The best way to ensure that you’re getting the lowest insurance rates available is to work with one of our independent agents. Unlike a traditional insurance agent, our independent agents represent dozens of highly rated life insurance companies across the nation and we can bring all of the lowest insurance rates directly to you. It’s vital that you compare rates from dozens of companies before choosing the one best for you, and we can help you do that. Don’t waste your time calling all of the companies yourself, we can save you both time and money on your insurance policy.
If you want to secure the best rates for your life insurance plan, there are several lifestyle changes that you’ll need to make. The first thing that you should do is improve your health through a healthy diet and getting regular exercise. Both of these can help you lose weight, lower your cholesterol, and reduce your risks of having severe health complications. All of these are going to secure you lower premiums from the insurance company.
The next way to secure lower rates is to eliminate any tobacco that you currently use. If you use chewing tobacco or you smoke cigarettes (which you shouldn’t be as an asthmatic), you can expect to pay much higher premiums for life insurance. In fact, smokers pay twice as much for life insurance versus what a non-smoker is going to pay for the exact same coverage. If you want to get the most affordable life insurance plan, you’ll need to kick the bad habits once and for all.
Another way to make sure that you aren’t paying more for life insurance than you have to is to ensure that your policy isn’t too large. The largest factor that is going to impact your monthly premiums is how much life insurance you’re going to buy. Make sure that you aren’t buying more life insurance than your family needs. Before you apply for a plan, calculate what your life insurance needs are and how much money your family will need if you were to pass away.
We work with many of the top insurers in the marketplace today, and we can point you in the right direction in terms of getting the coverage that is right for you and for your budget. In order to start the process, simply fill in the form on this page and click “Find Plans Now”.
If you have any additional questions about obtaining life insurance with asthma, as well as about comparing premium rates, please contact us toll-free at 888-229-7522 and we will be happy to help. We know that finding the perfect life insurance policy can be a long and difficult process, but it doesn’t have to be. Our agents are here to help make the process as quick and simple as possible It’s our mission to ensure that your family has the life insurance protection that they need.
Because you can’t predict the future, you shouldn’t wait any longer to get the insurance that they deserve. If something tragic were to happen to you, and you didn’t have life insurance, your loved ones are going to be left with a massive amount of debt, and no money to pay off all of those bills. This could make an already difficult situation a thousand times worse.