When trying to obtain life insurance, it can a lot of times be challenging to pass for coverage if you possess certain types of health conditions. This could be the predicament if you have been told you have narcolepsy.
Narcolepsy is a type of neurological condition that is typically characterized by a person’s inability to regulate his or her sleep and wakefulness. Those individuals who suffer from this condition will oftentimes experience very disturbed sleep patterns during the night, as well as an abnormal pattern of sleep during the day as well.
With this condition, there are three primary symptoms. These include the following:
- A sudden weakening of the muscles, yet without a loss of consciousness. This is referred to as cataplexy.
- Hallucinations while the individual is asleep, a condition that is referred to as having hypnogogic hallucinations. This can also occur while the individual is awake – a condition known as hypnopompic hallucinations.
- Sleep paralysis upon the individual awakening.
There are additional symptoms that come with this condition as well, such as potential problems with memory, excessive sleepiness during the day, and an unusual fatigue during the daytime hours.
While narcolepsy is not typically considered to be a life-threatening condition, it will still have an influence on many areas of one’s functioning – and because of that, it can also affect an individual’s ability to obtain life insurance.
What the Underwriters Want to Know If You Have Narcolepsy
Those who are pursuing life insurance with narcolepsy will typically need to answer certain questions that pertain specifically to your condition. This is so that the life insurer can get a clearer idea of your condition in determining whether or not you may present a higher risk of claim to them. If so, the insurance carrier may want to charge you a higher cost for premium of your protection.
Some of the subjects that you could likely be asked about will cover the following:
- What is the date of your original diagnosis of your condition? The underwriters will be asking when you were initially diagnosed with narcolepsy. The reason for this makes sense – if your condition was detected early, you are more likely to have control over your symptoms – which is a positive in terms of life insurance underwriting. In this case, you could qualify for a mild substandard underwriting classification.
- How often are you experiencing the traits of your health condition? It is also important that the underwriters know how often you are experiencing the symptoms of narcolepsy. Here, if your symptoms are occurring less frequently – and especially if they tend to be mild in their intensity – then there is a good overall chance that you could qualify as a mild substandard underwriting classification.
- What, if any, remedies are you using in order to regulate your condition? The underwriters will want to identify if you are using any kind of prescription medications in trying to help control your narcolepsy. The need to take medication in order to treat your symptoms could be necessary – and those individuals who take regular medication could still have a chance of getting a mild substandard rating classification category.
- Do you know what the primary cause of your condition is? In many cases, individuals have an understanding of what the underlying cause of their condition is. If this is the case, you may be able to control your symptoms better – and, that being the case, you may have a bigger chance of qualifying for a mild substandard rating.
- Do you have other kinds of medical conditions besides narcolepsy? The life insurance underwriters will be curious to know if you have any other medical circumstances such as a heart issue, mental illness, and / or a metabolic condition that could have an influence on the frequency of your narcolepsy attacks. If so, this may require additional evaluation before an underwriting and / or policy approval decision can be made.
In addition to your condition-specific info, the life insurance underwriters will also be examining the information that you offer on the application for insurance coverage. This information typically includes features regarding your:
- Height and weight (more specifically, your weight as it relates to your height)
- Smoking habits / tobacco usage
- Alcohol usage
- Occupation and income
- Marital status
- Whether or not you have children
- Overall health history
- Family health history
- Whether you participate in foreign travel
- Whether you partake in any speculative or precarious hobbies (such as rock climbing, scuba diving, hang gliding, etc.)
It is also plausible that you will be needed to take a medical exam as a portion of the overall life insurance underwriting process. This will include a meeting with a paramedical specialist who will get heart monitor and blood pressure readings. He or she will additionally take a same of your urine and your blood in order to test them for peculiar varieties of health issues that might pose additional risk of claim to the life insurance group.
Once all of that data has gotten in the hands of the insurance company, it will be reviewed more thoroughly and a settlement regarding coverage – and an appropriate premium amount – can then be made.
How Much Does It Cost to Buy Life Insurance for Narcolepsy?
The cost of buying life insurance when you have narcolepsy can vary, depending on your overall health condition, and also how severe your narcolepsy actually is. Once your report has been reviewed, the underwriters will make a premium cost determination.
Typically, while all life insurance companies work a bit differently, most will have three primary rating categories for their insureds – which also reflects the pricing of their insurance policies. These include the following:
- Preferred – For those individuals who are in superior health – and who also have a family account of superior health – obtaining a Preferred rating is attainable. This means that the individual is in a better health condition than the “average” insured, and because of this, they will be charged a lower rate of premium.
- Standard – Those who fall into the Standard category are considered to be average in terms of health. These individuals will therefore pay an “average” rate of premium. In some cases, if your narcolepsy is well controlled, and you are overall in really good health, you may qualify as a Standard rating.
- Substandard – Those who are in the Substandard category are judged to be below average in terms of health – yet not in poor enough of a health situation to be said no to for life insurance coverage altogether. There is usually several different levels of Substandard. Usually, if you are controlling your narcolepsy, you are likely to fall into a mild Substandard category. The only way you would not qualify or get a low substandard rating is if your narcolepsy were not controlled, if you are a smoker, or if you have some other health condition.
How to Purchase Life Insurance
If you are ready to purchase life insurance and need assistance, you have come to the right place to get help. By working with top insurance firms across the country, we know exactly how to help you find the best policy and premium that is perfect for you. In order to get your journey of obtaining life insurance begun, just use the form on our page.
If you have anything at all that you are wondering about considering how to qualify for life insurance with narcolepsy or any other questions such as looking for affordable veterans life insurance, how to obtain a premium quote, or just about life insurance in general, we are the people you want to talk to. You can contact us, toll-free, by phoning 888-229-7522. We want to assure that you acquire the right answers as you make this important coverage decision, so contact us today!