Having an adequate amount of life insurance to protect your loved ones in case of the unexpected can help you to sleep better at night. For some, getting the insurance protection that they need can be easy – just simply fill out an application, and then wait for their approval from the insurance company.
For others, though, it isn’t that simple. This could be due to an adverse health condition like costochondritis or any other issue such as diabetes or dementia, just to name a few. You may even be looking for life insurance if you are overweight. When you are in this situation, you may have even tried to get life insurance in the past and been turned down. The good news now is, however, that by working with a life insurance specialist who focuses on high-risk cases, you could have a much better chance of obtaining the coverage that you need. We can help you to find the right policy.
How Costochondritis Can Affect Your Life Insurance Application for Coverage
Costochondritis – also commonly referred to as chest wall pain – is actually in inflammation of the cartilage that connects a rib to the breastbone. The pain that is caused by this condition can seem like that of certain heart conditions, or even that of a heart attack.
There is no apparent cause for costochondritis. Therefore, medical experts have commonly focused on easing the pain, while the patient simply waits for the condition to improve on its own. Sometimes this can take up to several weeks – or even longer.
While costochondritis is considered to be a manageable condition, it can often be mistaken for other ailments, such as a more severe health issue. Therefore, it is important that when you are applying for life insurance with costochondritis, that the life insurance underwriters know as much about you and your health as they possibly can.
What the Underwriters Will Want to Know About You
When applying for a “traditionally underwritten” life insurance policy, you will typically be required to fully complete an application for coverage. This application will ask you for information about yourself and your health, such as:
- Name and Contact Details
- Height and Weight (weight as it relates to height)
- Marital Status
- Occupation and Income
- Smoking Status / Tobacco Usage
- Alcohol Usage and Frequency
- Health and Health History
- Family Health History
- Hobbies / Habits
- Foreign Travel Frequency
- Other Life Insurance In-Force (and the amount)
You will also likely be asked for some additional information regarding your costochondritis so that the insurance underwriters can get a clearer idea of your actual condition. Therefore, some or all of the following condition-specific questions will also be included:
- When were you initially diagnosed with costochondritis? Because costochondritis is not considered to be a life-threatening condition, if it is detected early, it is likely that it can be managed. This is especially the case if it is not recurrent and there are no serious symptoms and / or side effects.
- Do you have any other medical conditions? Should you also have any other medical condition (or conditions) – especially if the condition is serious, such as fibromyalgia, rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and / or ankylosing spondylitis – then it is likely that the insurance underwriters will want to do further evaluation prior to making a determination concerning your coverage.
- Do you take any medication in order to help with managing or controlling your costochondritis? If so, what medication do you take, and what is the dosage(s)? The need to take any medication for your condition – especially medication such as nitroglycerin to manage chest pain – could be a sign of a more serious heart condition. If this is the case, you may not be able to qualify for a Standard policy rating on your life insurance coverage.
- Have you had any relevant lab and / or diagnostic testing performed within the past 12 months? If you have had any relevant lab and / or diagnostic testing performed within the past 12 months concerning your costochondritis, then it is possible that the life insurance underwriters may wish to review the results to help with their determination regarding your policy.
- Do you regularly visit with your cardiologist? Having regular check-ups with a cardiologist can be a positive sign that you are working to manage and control your condition.
In addition to the application and condition-specific questions, you will also be required to undergo a medical examination. This will require a meeting with a paramedical professional who will take from you a blood and a urine sample.
It is also possible that the insurance company may want to see your medical records from your primary care physician. This can help to provide the underwriters with more information so that they can get an overall view of your health and your health history.
After all of the necessary information has been received, the insurance company will be able to review all of the details and from there they can determine an outcome regarding your coverage, as well as an appropriate premium.
How Much Will Your Life Insurance Cost If You Have Costochondritis
The premium for a life insurance policy will be the result of several different factors. These will include the type and the amount of the insurance coverage that is being purchased. It will also factor in the age and the gender of the applicant.
However, the cost will also take into consideration the overall health of the policy holder. This is because the insurance company does not want to take on too much risk in that the applicant will be cause for a costly claim.
Concerning life insurance for people with costochondritis, if you are otherwise in good health, then it is possible that you could obtain a Standard policy rating. This means that your life insurance coverage cost would be in line with that of other “average” policyholders who are of your same age and gender.
Should the underwriters feel that your health is not quite in line with an average policyholder, then you may still qualify for a Substandard policy rating. In this case, your premium would be higher than average. If, however, you have a difficult time qualifying for a traditionally underwritten life insurance policy, you may have to look at other alternatives.
What If You Do Not Qualify
If for some reason you do not qualify for a fully underwritten life insurance policy, then there are still other potential options for you in getting life insurance coverage for your needs. One such possibility would be to apply for a no medical exam life insurance policy.
With a no medical exam policy – as the name implies – there is no medical examination necessary as a part of the underwriting process. This makes it easier for some applicants who have various health issue to qualify for the coverage.
It is important to note that, because the risk to the life insurance company is higher on a no medical exam policy, the premium that is charged for this type of coverage will also typically be higher. However, this type of coverage could provide you with an alternative to getting the coverage that you need for ensuring that your loved ones are financially covered in case of the unexpected.
How to Find the Best Premium Quotes on Life Insurance
If you have a health condition like costochondritis, and you are seeking life insurance coverage, it can be difficult. But, working with a company or an agency that focuses on high-risk insurance cases can be the way to help you in finding the coverage that you need – and to get the best premium quote. This is because often, you can review the policies of multiple insurers as versus just one. That way, you can compare and determine which will be the best for your situation.
When you’re ready to see what type of life insurance coverage you may be eligible for, we can help. We work with many of the best life insurers in the marketplace today – and we can assist you in obtaining all of the important details that you require for making a purchase decision. We can do so for you quickly and easily – all from your home computer, and without the need to meet in person with a life insurance agent. If you are ready to move forward, just simply get started by filling out the brief form on this page.
Should you find that you still have any questions regarding how to qualify for life insurance with costochondritis – or even if you just happen to have a question or concern about life insurance in general – please feel free to contact us directly. We can be reached by phone, toll-free, at 888-229-7522. While you may be somewhat apprehensive about applying for coverage, the good news is that you do have options. So, contact us today – we’re here to help.