When applying for life insurance, there are oftentimes a number of health related conditions that could make getting approved more difficult. This is because certain issues may have an effect on a person’s life expectancy – which, in turn, can potentially increase the life insurance company’s risk of paying out a claim. A person who has been diagnosed with hemophilia may run into such issues.
Hemophilia is a type of genetic disorder. It is typically hereditary. This condition involves the X-linked, or F8, recessive genes in a person’s body, and it essentially causes an impairment in one’s ability to control bleeding, clotting, and coagulation. While those who have this condition do not tend to bleed more heavily than other people, they do usually bleed for a longer period of time – and because of this, other serious issues can come up.
Some of the more common symptoms of this condition can include recurrent bleeding in the joint spaces such as the shoulders, ankles, elbows, knees, and hips, as well as redness, pain, and local swelling.
In certain cases, an individual’s bleeding can in fact become life threatening if it affects areas such as the digestive system, the central nervous system, and / or the oropharyngeal spaces from the mouth, nose, and the throat. Because of this, it can be more difficult to obtain life insurance for hemophilia sufferers.
The good news is, however, it is possible to qualify for traditional types of life insurance coverage if you have hemophilia. In order to do so, though, it is important to work with a company that has access to several different insurers so that you will have a better chance of qualifying, and so that you can compare policies, benefits, and premium quotes that more closely fit your specific budget. In doing so, we can help, even if this means finding a company for you that will offer life insurance with no medical exam needed for coverage.
What the Underwriters Will Need to Know
When applying for life insurance with hemophilia, the insurance company’s underwriters will need to know some specific information regarding your condition. This will help them in getting a more clear picture of how the condition is affecting your overall health, as well as how you are able to control it. The answers to these questions will also assist the underwriters in assigning an appropriate premium amount to the policy, based on the amount of risk that you present to the insurance company.
Some of the questions that you are likely to be asked include the following:
- When were you initially diagnosed with your condition? The underwriters will need to know when you were initially diagnosed with hemophilia. Because this can be a life threatening condition, detecting it early can be extremely important in how you are able to control and monitor it – especially with regard to the frequency of your bleeding. If you have a good control on your bleeding, it is possible that you could obtain a mild substandard rating on your life insurance coverage. If not, a medium substandard rating may also be possible.
- Approximately how many episodes of bleeding do you have per year? The underwriters will also need to know how many episodes of bleeding that you have each year. This is because the more frequent these episodes are – as well as the longer the bleeding time is – will help the underwriters to determine a more appropriate underwriting classification for your policy. Another important factor is where your episodes of bleeding occur (i.e., what area of your body). This is because if the episodes of bleeding occur at or near major organs, they will be considered to be more serious.
- What, if any, medications do you take for your condition? The underwriters will also want to know if you are taking any medications in order to help in preventing bleeding episodes – and if so, which one(s). If the medication is helping you to control your condition, it is possible to qualify for a mild substandard rating.
- Do you have regularly scheduled visits with your hematologist in order to discuss your condition? By having regular check-ups with your specialist, it shows that you are working to control your condition – and this is a positive sign in the eyes of the underwriters.
- Have you had any type of relevant lab testing performed over the past year? By having relevant lab tests performed such as those that measure your bleeding and clotting time, the underwriters will be able to obtain a better idea on your risk for hemorrhage. In addition, by having positive exam results, you may be able to obtain a better rating for a policy as well.
- Do you participate in potentially high risk activities or hobbies? The underwriters will also need to know if you participate in activities such as sports that could trigger bleeding. If so, you could potentially obtain a higher policy rating, as this would be considered a higher risk of claim to the life insurance company.
In addition to the specific information about your hemophilia, the underwriters will also review the general information that you submit with your life insurance application for coverage. Here, you will provide data such as your age, gender, height and weight, overall health history, family health history, such as a history of diabetes, heart disease, etc., smoking status, alcohol usage, occupation and income, marital status, and whether or not you participate in regular foreign travel.
All of this information will be compiled, as well as the results of a blood and urine sample that you will be required to submit as a part of the life insurance underwriting medical exam. These samples are typically reviewed for certain types of health conditions that may pose additional risk of claim to the life insurance company.
Once all of the information has been analyzed, a decision regarding coverage can be made. In most cases, those who apply for life insurance with hemophilia can obtain a policy at a mild substandard rating, provided that you are otherwise in good health and your condition is being well controlled via medication and other avenues.
How to Obtain Life Insurance for Hemophilia
In obtaining life insurance coverage when you have hemophilia, it is typically best to work with a company that has access to numerous insurers. This way, your information will not be subject to the underwriting requirements of just one company.
When searching for the life insurance protection that you need, we can help. We work with many of the best life insurance companies in the market place today, and we are familiar with the carriers that are more apt to work with what the insurance industry considers higher risk applicants. We can help to point you in the right direction before the application process – ultimately saving you countless hours of time and frustration, and obtaining the coverage that you need more quickly. In order to get the process started, all you need to do is just simply use the form on this page.
If you should have any questions along the way regarding life insurance for hemophilia, how to obtain or compare life insurance policy quotes, or even just about life insurance in general, please feel free to contact us directly. We can be reached, toll-free, by calling 888-229-7522. We want to help you in obtaining the important coverage that you need. Contact us today – we’re here to help.