There are many different reasons why people may decide to buy life insurance. Some may opt to have coverage for replacing income for a spouse and young children, while others may have a large estate tax liability that they do not want their loved one to be stuck with. Still others may be business owners and they may wish to see the company carry on should the unexpected occur.
Whatever the reason may be, though, in order to obtain coverage, it will usually be necessary to apply for coverage and to be reviewed by the underwriters prior to being approved for a policy. This will typically entail having your health condition reviewed – which can oftentimes include a review of any prescriptions that are being taken.
For many people, approval comes easy. Others, however, may not be quite so lucky. This is especially the case for those who suffer from conditions such as depression, anxiety, and / or fibromyalgia.
Any or all of these conditions – as well as the medications that are prescribed for their treatment or control – may cause an applicant to either pay more for premium cost or to even be declined for coverage altogether, depending on their overall situation.
The good news is, however, that even if you have an adverse health condition, there are still ways that you may qualify for coverage – you just need to have a good strategy. When doing so, we can help.
Applying for Life Insurance with an Adverse Health Condition
When applying for life insurance with various adverse health conditions, it is important to know that not all carriers will underwrite an applicant in an identical manner. For example, if an applicant with depression applies for coverage with one insurer, he or she may be approved at a Substandard rating with one insurance company. However, they could be approved as a Standard rating at another – even though they provided identical information on the application for coverage.
With that in mind, it is important to work with a company or an agency that is not bound to just one single insurance carrier. This way, you will be able to “shop” your application to numerous insurers – in turn, providing you with a much better opportunity to be approved for coverage.
Why Cymbalta is Prescribed to Patients
Cymbalta is a type of selective serotonin, as well as a norepinephrine reuptake inhibitor antidepressant. It can be used for treating a number of different conditions in individuals. However, some of Cymbalta’s most common uses are in the treatment of the following:
- General anxiety disorder
- Major depressive disorder
- Chronic muscle pain
- Chronic joint pain
- Pain caused by nerve damage in individuals with diabetes
Not all carriers will treat applicants the same. One reason for this is because Cymbalta is used for treating such a wide variety of different ailments. For example, if the medication is used in treating an individual for a mild case of fibromyalgia or chronic joint and muscle pain, an applicant may still be able to obtain a Standard – or even a Preferred – policy rating.
If, however, the Cymbalta is being taken by an applicant for a serious case of diabetes or for a major depressive disorder, then it is possible that the individual may be rated in a Substandard insurance class. In this situation, there are other criteria that will likely be reviewed by the life underwriters such as how long the individual has had his or her condition, the amount of life insurance that the applicant is seeking, and the individual’s overall current health condition.
In cases such as this, it is typically a good idea to work with a specialist who has a background in working with higher risk cases. This way, the applicant can be guided with regard to any additional paperwork that may be needed, as well as in other strategies that may be helpful in terms of securing the protection that they need.
How and Where to Obtain Coverage
If you are buying a life policy while taking Cymbalta, make sure you find a company that has contracts with more than one life insurance carrier. The reason for this is because you will not be tied into just one insurer’s underwriting requirements. Instead, you can “shop” your application among multiple different carriers in order to determine which will be the best for your coverage needs.
In addition, you may also be able to compare the different life insurance companies’ policies and benefits, as well as their premium quotes so that you can determine which fits best for your life insurance budget. Since we have contracts with many of today’s top life insurance carriers, we can fully fit you into a policy that benefits your family best.
We understand that purchasing life insurance can sometimes seem overwhelming. There are many decisions that must be made, such as what type of coverage should you buy, how much benefit is enough, and what carrier is the right one for you. We will help you in answering all of these. So contact us today – and see how we can help.