Whenever a person with epilepsy talks to us for the first time we almost always hear the question, “Why are rates on life insurance for people with epilepsy so high?” The quick answer is ignorance.
Life insurance companies are always slow to change their underwriting methods because a mistake in underwriting could lead to huge losses for the company. For this reason people with controlled epilepsy are pretty much getting the shaft on life insurance rates. We know that controlled epilepsy does not lead to any shortage of life span just as well as you do and that is why we work with so many people to find the best rates. There are even no medical exam life insurance policies or low cost life insurance for smokers that are available if these interest you.
Since we know this frustration is out there here are some of the most common questions we see.
What are the best life insurance companies for epileptics?
We work with over 60 national life insurance companies and even more local ones and there are less than a handful that really know how to underwrite for epileptics. We consider this a company secret since our competition does such a bad job of working with people who have epilepsy so we will not disclose these companies on the internet for all to see.
What are life insurance underwriters looking for?
This gets a little tricky because they can each ask a few different questions but in general life insurance with epilepsy underwriters are looking for:
- Date of initial diagnosis
- Date of most recent episode
- Frequency of episodes
- Current medications
- Other health issues
- Are you driving
- How severe are the seizures
- Types of seizures are you having (sleep, traumatic, etc.)
- Symptoms that come with your episodes
With this in mind we work with you to frame your answers to these questions properly so that you do not get rated in a lower life insurance for epilepsy class than is needed.
Your epilepsy diagnosis is not going to be the only things that the insurance company is going to review when you’re shopping for insurance. They are going to look at dozens of different factors aside from the ones above. All of the categories are going to impact how much you pay for your life insurance.
They will look at any other health problems and your overall health. Before the insurance company approves your application, they will want you to go through the medical exam. The results of the medical exam are going to play a major role in how much you pay every month.
They will also want to know if you use any tobacco, either smoking cigarettes or using chewing tobacco. If you’re a tobacco user, then you’re going to pay a lot more for your life insurance protection. Tobacco users are at a higher risk of being diagnosed with conditions like a heart attack or cancer. That means that you’re going to post a higher risk to the insurance company, and they are going to offset that by charging you twice as much for life insurance. If you want to save money, you need to go out the tobacco as soon as possible.
The best way to ensure that you’re getting the lowest rates is to compare dozens and dozens of plans before you decide which one is best for you. Every company is different, and all of them have different medical underwriting and rating systems.
The best way to compare dozens of plans quickly is to work with one of our independent insurance agents. Unlike a traditional insurance agent, our independent brokers work with dozens of highly rated companies across the nation. If you don’t want to waste your time calling those companies yourself, let one of our agents do all of that hard work for you.
Can I get Preferred Rates?
At this time, no. Right now the best anyone with epilepsy can do is to get a standard rate. Even those studies have shown that people with infrequent seizures show no more mortality risk than anyone in the general population the insurance companies still rate you a little lower for having epilepsy.
At InsureNow365.com we know it is hard to jump through all the hoops that the life insurance companies have for epileptics and the people that have categorized as high risk life insurance cases, so we have made it easy for you to work with us. Use the form on this page or call our number above to get started with a set of quotes on life insurance for epileptics. From there we will work with you to make sure you get the best rates.