With most any type of adverse health condition, it can become challenging for an applicant to obtain approval for life insurance coverage. This can certainly be the case for those who have sickle cell trait or sickle cell disease.
Depending on your actual diagnosis, as well as the severity of your condition, there are some life insurers that will decline your application completely. However, when working with the right company, not only might you obtain approval, but you could do so at Standard premium rates.
Life insurance is one of the most important investments that you’ll ever make for the future of your family, and your sickle cell disease diagnosis won’t stop you from getting the protection that your family deserves. Even if you’ve been declined for life insurance in the past, there are several options for life insurance protection.
Getting Life Insurance Approval
When you apply for life insurance with sickle cell trait or sickle cell disease, the carrier is going to need more details about your situation so they can get a better grasp of how much risk the insurer may be taking on if they should approve your application for coverage. Look over these sample questions, and start thinking about your answers.
- Is your actual diagnosis sickle cell disease or sickle cell trait? The underwriters will need to know your exact diagnosis, and if it is sickle cell disease or sickle cell trait – because there is a difference. Those who have sickle cell trait will carry only one of the abnormal genes, and will typically present no symptoms. These individuals generally can live a normal life. Those who have been diagnosed with sickle cell disease, however, carry two abnormal genes and will usually carry various – and more serious – health related complications and symptoms. Some of the more common early signs of sickle cell disease may include headache, dizziness, fatigue, shortness of breath, pale skin, mucous membranes, and cold feet and hands.
- If you have been diagnosed with sickle cell disease, what was the date of your diagnosis? Because of its seriousness, the life insurance underwriters will need to know the date of your initial diagnosis. This is because early treatment and management of this condition can help in preventing complications and can lead to better control of the disease. This can also be a positive when reviewing your life insurance application for coverage.
- Have you experienced any negative symptoms from your sickle cell disease condition within the last 12 months? Certain symptoms such as flare signs can be a sign of a condition known as sickle cell crisis – a condition that can result in an overall decline in one’s health. Signs of this condition can include sudden infections, a high grade fever, severe pain, bleeding, and even failure of various internal organs.
- What, if any, medications are you taking to help in controlling your condition? It is important to carefully follow your doctor’s recommendations for controlling your condition. This includes regularly taking any medications that have been prescribed for you. The life insurance underwriters will need to know what, if any, medications you are currently taking to help you control your condition, as well as to help in preventing flare signs.
- Do you have regularly scheduled check-ups with your hematologist? Regularly visiting your hematologist means that you are working to control your condition.
- In the past 12 months, have you had any blood tests performed? If so, what were the results? One of the best ways of assessing your condition is by reviewing the results of recent lab work that has been performed. If you have had any blood work performed over the past year, the underwriters will want to review this to further assess your condition.
In addition, when applying for traditional life insurance coverage, you will also be required to submit to a medical exam as part of the overall life insurance application process, unless you choose to purchase a no exam life insurance policy, which will come with a higher premium rate. This will entail providing a blood and urine sample.
Likewise, the underwriters will also base the approval of your application on factors such as your age, gender, height and weight, smoking and alcohol usage, occupation and income, and any type of risky hobbies that you may participate in.
How Much Will Your Life Insurance Coverage Cost With Sickle Cell Trait or Sickle Cell Disease?
The cost of your life insurance coverage may differ, depending on whether you have sickle cell trait or sickle cell disease. In most cases, those who have sickle cell trait and who do not show any signs or symptoms can typically obtain a Standard policy rating. This means that these individuals are grouped in with other insureds who are considered to be of “average” health, height, and weight in their same policy class. The premium that they are charged will also be considered average.
For those who have a more moderate case of sickle cell disease, it is likely that a rating of Medium Substandard will be given. This is because these policy holders usually show more symptoms of their condition, and thus could possibly present more risk to the insurer. In order to compensate for that higher risk, more premium for their coverage is charged.
Those who have more severe cases of sickle cell disease – along with recent bouts of complications – are not likely to obtain traditional life insurance coverage. This is especially the case if they have recently experienced flare symptoms. These individuals may, however, be able to qualify for a graded death benefit or a guaranteed life insurance policy. Though you will pay more for a GIL policy, it is a way to get coverage if you aren’t insurable for a traditional plan.
Graded death benefit plans are a unique type of coverage that will give you life insurance protection, even with severe health complications, but it comes with a few loopholes. After you purchase one of these plans, you won’t actually have insurance protection until two years after that purchase date. If something were to happen to you in the first two years after you bought the plan, your family wouldn’t get the payout from the policy. Instead, they would only get a return of premiums. Some plans will give you half the payout after the first year, and then the full payout after the second year.
Applying for Coverage
If you have been diagnosed with sickle cell trait or sickle cell disease and you need life insurance coverage, we can help. We work with many of the top life insurance companies in the industry today and we can help you to find the coverage that you need at an affordable premium.
At InsureNow365.com we work with many insurers and can point you in the direction of those that are more apt to take on “higher risk” cases – especially if you suffer from complications due to your condition. We can also help you to compare benefits and premium quotes from several insurance companies within just seconds, all from your home computer.
We know that shopping for life insurance coverage is never a fun task. It’s not how you want to spend a Saturday afternoon, but it’s one of the most important things on your to-do list. If something tragic were to happen to you, and you didn’t have the proper coverage in place, your family would be responsible for all of your final debts and bills.