For many people, applying for life insurance is an integral part of their financial process. In fact, without this important financial tool, their plans are not considered to be complete. This is because, without life insurance, loved ones could be left without the ability to pay ongoing expenses or be left with significant financial hardship in case of the unexpected.
Some have little difficulty in qualifying for the type and amount of life insurance coverage that they require. Others, however, are not quite as fortunate. This is often due to having an adverse health condition that deems them as either a Substandard policyholder or as declined for coverage altogether.
If you have had trouble in qualifying for a policy due to a condition such as paraplegia, you may feel that there is no chance of getting the coverage that you need. There is, however, good news now. Today, there are many more options available to those with adverse health issues, such as diabetes or dementia, regarding finding life insurance coverage. The key is in locating a carrier that will work with you. In order to make the process easier, it is often best to work with a company or an agency that focuses on high-risk life insurance applicants.
How Paraplegia Can Affect Your Life Insurance Application for Coverage
Paraplegia is defined as a condition that involves an impairment of the motor of the sensory function of the lower extremities. This is a type of paralysis, the universal term that is used in describing the loss of movement or sensation that follows damage to nerves in the body.
The cause of paraplegia is typically the result of an injury to the spinal cord – which is oftentimes due to either an accident or some other form or trauma. While some injuries or accidents are readily apparent, others are not. Therefore, the paralysis and / or numbness can sometimes be delayed.
Also, further injury can also occur as a result of bleeding and / or swelling. Therefore, it is important that an individual who has an accident or injury seek immediate medical attention because the time frame is often critical regarding assessment, as well as recovery.
The extent of the loss – and, therefore, the loss of function – will typically correspond to the extent of the damage that is done to the spinal cord, as well as the area that has been affected. The area(s) of the spinal cord that can result in paraplegia include the lumbar, thoracic, or sacral regions.
Although some individuals who have paraplegia are able to walk – at least to a certain degree – there are many who are confined to a wheelchair or who must use some other supportive measure in order to get from one place to another. Also, many of those who sustain this type of injury may also experience pain and / or muscle spasms to various degrees. Other issues that can occur in those who experience spinal cord injuries, and thus paraplegia, can include impotence, urinary and / or fecal incontinence.
Because of the many issues that may occur due to this type of injury, someone who suffers from paraplegia may have difficulty when applying for life insurance coverage. Therefore, it will be important to provide as much information as possible when completing an application for coverage so that the underwriters can make the most informed decision as possible.
What the Insurance Underwriters Need to Know About You
The first avenue in obtaining a life insurance policy is fully completing the application for coverage. This will entail answering more basic questions such as those regarding your personal and social situation.
Because of your paraplegia, it is likely that the insurance company will also want additional, specific details regarding your condition. Therefore, you may also need to answer questions such as:
- How long have you had paraplegia? The length of your paraplegia will make a difference as longer-term cases may have a higher risk of complications. These may include thrombosis or spinal cord compression.
- What was the cause of your paraplegia? The insurance company will also want to know what the cause of your paraplegia was. This is because the less serious your disease condition, the more likely you could be to obtain a policy rating of medium substandard.
- What type of medicine are you currently taking? The underwriters will want to know if you take any type of medication for pain, and if so, what the dosage(s) is / are. The need for medication to control pain could be a sign of an additional complication such as a spinal injury.
- Where is the location of your spinal injury? Knowing where your spinal injury is will help the underwriters in knowing the severity of it. For example, the higher the injury, the more serious it usually is – and the more likely an applicant is to obtain either a severe substandard policy rating or possibly even a decline.
- Do you have any other medical condition(s) in addition to paraplegia? If you have other medical conditions – especially those such as bone issues and / or arthritis, which could aggravate the paraplegia symptoms – then it will be necessary to let the insurance underwriters know about this.
- Are there scheduled meetings with a physician for check-ups? Meeting regularly with your physician or other medical professionals is a good indication to the insurance underwriters.
- In the last year what tests have been done on you? If you have had any relevant lab or diagnostic testing performed such as an MRI or a CT-scan within the past year, it is possible that the insurance underwriters may wish to view the results of these tests. Doing so may help the underwriters to obtain a more clear view of your overall condition.
One of the last things you’ll do is meet with a medical professional to go through a short medical exam. The samples collected and tests run will help the life insurance company see a full picture of your health and the risks you might bring to their books.
How Much Will Your Coverage Cost with Paraplegia
Your premium will be determined by the result of everything we’ve talked about so far, but it will also have to do with the severity of your paraplegia.
In most instances, even if you are otherwise in good health, it is likely that your policy will be rated in a Substandard category. Working with a company that focuses on high-risk life insurance applicants can help you to ensure that you can more easily find a carrier that works with higher risk cases.
Unfortunately, there are sometimes when a carrier will let you know that they cannot ensure you. While this is disappointing it does not me you will have to live your life without life insurance. There are several companies that have no medical exam insurance. Which means your chances of getting coverage will rise drastically.
Where to Find the Best Premium Quotes on Life Insurance with Paraplegia
If you have paraplegia or have any other special request, such as you are a veteran seeking life insurance, we can help. Our company works with most of the higher rated carriers in the country, and we work efficiently to provide you with the information you need. When you are ready to proceed, all you have to begin your life insurance application is fill out the short form on this page.
We recognize that buying life insurance may seem to be somewhat overwhelming. But the good news is that now, there are many more avenues that are open to you. Reach out to us today by calling 888-229-7522, our agents are ready to work with you.