When you’re shopping for life insurance, any health problems can create speedbumps.
If you have a diagnosis like endometriosis, it’s going to make the application much harder – but not impossible.
Life Insurance with Endometriosis – Tips and Tricks
Before you start applying for coverage from every company out there. Let’s look at some ways you can set yourself up for the best possible outcome (cheap life insurance).
Know Your Options
First, you need to understand the different choices – term, no exam, whole, or guaranteed issue. The underwriting for each of them is going to be different.
Some types are more extensive than others. For example, whole life plans are going to have more hoops to jump through than a no exam policy.
Stay In Shape
Once you have a good understanding of your options, then you need to whip yourself into shape. If you show the insurance carrier that you’re taking care of yourself, they will reward you with cheaper rates.
Simply losing weight can have a HUGE impact on how the company views you. Instead of being stuck with a sub-standard rate, you can enjoy those lower premiums.
If you’ve been putting off losing weight, doing it before you buy life insurance is an excellent choice.
Cut Out The Tobacco
On the subject of making changes, it’s time to finally quit for good – we’re talking tobacco. Because of your Endometriosis, you’re starting behind the eight ball. Companies are going to be hesitant to give you preferred rates.
You want to eliminate any other factors which could cause your premiums to jump up. Let’s say you’re a smoker as well as being diagnosed with Endo.
Not only are you going to get standard rates, but you’re going to be stuck with smoker’s rates – which are MUCH, MUCH more expensive.
Work With An Independent Agent
The one advice we give to EVERY client we work with (regardless of their health), is to work with an independent brokerage. Every underwriter is going to have different assessments of your application and how it’s going to impact the coverage.
Sure, you can go from company to company to get rates or you can make it drastically easier on yourself. All you have to do is give us some simple answers.
Questions the Underwriter will Ask?
If you know what they are going to ask, then you can be prepared.
- When did you get the diagnosis? Endometriosis is a health condition that can be controlled. Therefore, once you have been diagnosed and your condition is under control with medication or other methods, you can get coverage.
- How severe are the symptoms of your condition? Typical symptoms of endometriosis include painful menses and heavy bleeding, these symptoms typically do not pose a high risk to a woman – unless they are a sign of another, more serious health condition such as a malignant tumor.
- Have you had a surgical procedure for the purpose of managing your Endometriosis? The more surgeries required, the worse it looks to the underwriters.
- How often do you go to the gynecologist? It still be necessary for the life insurance underwriters to order copies of your medical records from your gynecologist to confirm the absence of further complications of your condition.
- Do you have a family history of conditions such as ovarian or uterine cancer? If you do have a family history of these conditions, it may be necessary for you to submit to additional medical exams or testing before the underwriters can make a final determination on your application for coverage.
These aren’t the only questions. They will still ask you basic questions, like:
- How tall are you and how much do you weigh?
- Do you smoke?
- Do you drink alcohol?
- What’s your job and how much do you make?
- Dangerous hobbies
They are going to take all this info to add up how much you risk of claim to the insurance company you are. This decision will impact your prices.
How Much Will the Policy Cost?
In many cases, those who obtain life insurance approval with endometriosis will be able to get Standard life insurance premium rates.
In some cases, those who have had additional complications due to their endometriosis may be charged Substandard premium rates.
This means that, even though their application for life insurance coverage will still be approved, they are going to pay a good bit more for their plan.
It’s important that you get enough coverage for your loved ones, without paying for more than you need. Before you apply for any life insurance, you’ll need to calculate what your life insurance needs are. Bigger policies mean bigger premiums.
Using an Independent Broker
Let’s look at two possible situations.
One of them is you trying to buy life insurance without the help of an independent agent. You decide to try and buy coverage on your own.
You spent countless hours looking up companies, doing your research, and calling agents. In the end, you’ve spent a lot of time, and you still don’t know if you have the cheapest coverage.
The other scenario is taking advantage of professional agents who have helped thousands of people find insurance. Instead of wasting your time, we will do all the searching for you.
You answer a handful of our questions and then you sit back as we do everything else. Before you know it, you’ll have a list of the best options for your insurance needs. It’s going to save you time and money – what could be better?
If you want to get started with this scenario, all you have to do is fill out the simple form over on the side of this page. It’s going to take you less than five mins.