When applying for life insurance coverage, there are numerous criteria that are reviewed by the insurer’s underwriters. Typically, health and health history make up a big part of this – due in large part to the fact that poor health can have such an impact on a person’s overall life expectancy. If you are looking to obtain coverage with health issues such as diabetes, we can help you find the coverage you deserve.
There are other factors that are also reviewed. One such criteria is the medications that a person may be taking. This is because medications can sometimes have harmful side effects that could also play a part in someone’s health and / or even their life expectancy. One such medication that can play a role in the outcome of a life insurance application is Valium.
How Taking Valium Can Affect One’s Life Insurance Application
Taking Valium can potentially have a significant effect on one’s life insurance application. Just how much of an effect will be determined by several factors. These can include the type of anxiety that is being treated with it, as well as whether or not the applicant has recently been hospitalized for their condition. In addition, the applicant’s work history will also typically be considered.
Valium is a prescription medication that is used primarily for the treatment of anxiety disorders. It has also been used in treating muscle spasms, as well as for alcohol withdrawal symptoms and for the treatment of seizures.
This medication can have a variety of side effects, including confusion, unusual risk-taking behavior, hyperactivity, loss of coordination, and weak or shallow breathing. It can also have certain harmful effects if taken with other medications. Therefore, life insurance underwriters look closely at a variety of factors if an applicant for coverage is taking valium – and this medication can have an effect on one’s coverage outcome.
In some cases, provided that an individual is otherwise in excellent health, he or she could be qualified as a preferred policyholder. In other cases, however, if their health is poor, they could run the risk of being declined. Therefore, while the medication that you take can have an effect on the application, other factors such as overall health and life expectancy also play a large part in the underwriters’ decision.
Which insurance carrier is applied through can also make a big difference in whether or not you are accepted for coverage, as well as which category your policy is placed into if you are. What many people are not aware of is that not all life insurance companies will underwrite their applicants in an identical manner.
What this means is that an applicant who takes Valium could essentially apply with one insurance carrier and be approved as a substandard policyholder paying a particular premium rate. The same person could apply at another insurance company – with the very same health criteria and medications taken – and be approved as a Standard policyholder, being charged a lower amount of premium. With this in mind, it certainly pays to do some comparison shopping before making a final determination regarding which policy and insurance carrier will be the best for you and your specific coverage needs.
One of the best ways to ensure that you obtain the coverage that is right for you and your needs is to work with a company or agency that has access to more than just one insurance carrier. That way, the “shopping” has already been done for you. Often, working with the right company can also help you to know which carrier or carriers are more apt to underwrite individuals who are taking medications such as Valium. This can, in turn, save you a great deal of time in the application process so that you don’t need to go from one insurer to the next on your own.
What the Life Insurance Company’s Underwriters Will Want to Know
When applying for life insurance, the basic application for coverage will typically not provide enough information for the underwriters to make an informed decision on an individual who is taking valium. Therefore, additional information will usually be required. An applicant who is taking valium will oftentimes be asked some or all of the following medication and health-related questions:
- When were you first prescribed valium?
- What type of a medical professional prescribed you? (i.e., your primary care physician or a specialist)
- What was the initial dosage that you were prescribed with?
- Has the amount of your dosage changed over time?
- How, and how well, has valium helped you to manage and / or to control your condition’s symptoms?
- Have you suffered from any side effects?
- Are you managing your condition in any other ways, such as diet or exercise?
- Have you been hospitalized over the past 12 months due to your medical condition?
- Have you had any relevant testing performed over the past six months due to your medical condition?
Most applicants for traditional life insurance coverage will be required to undergo a medical exam. This exam will be conducted by a paramedical professional, or “paramed,” who will take a blood and urine sample. They will also get a blood pressure and a heart rate reading in order to get a better look at the applicant’s overall health condition.
It is likely that with someone who is taking valium, the life insurer will want to review copies of his or her medical records from the primary care physician, a medical specialist, or from both, in order to also obtain a clearer picture of their health.
Once all of the health-related information has been obtained by the insurance carrier, it can be reviewed and a determination may be made about the applicant’s coverage, as well as about a premium rate.
How Much Will Coverage Cost If You Take Valium
The cost of life insurance coverage for someone taking valium can vary a great deal. This is because it will be determined based upon the individual’s overall health factors as well as by the dosage of the medication, and how well the medication is controlling the condition that is was prescribed for.
In the best case scenario, provided that the applicant is in excellent health – with a family history of excellent health – there is a possibility of obtaining either a Preferred or a Standard Plus rating. This means that the cost of the life insurance coverage would be lower than a Standard, or average individual.
If the applicant is considered to be more of average health – even with taking valium for his or her condition, then their policy would instead likely be deemed as a Standard. In this case, the premium would be more in line with an average policyholder who was in the insured’s same age category.
Should the individual’s health be less than average – yet, not poor enough to be declined for coverage altogether – then they would likely be placed as a substandard policyholder. Here, the cost of the premium would be higher than that of an average, or Standard, policyholder.
Should it happen that an applicant is denied for coverage on a traditionally, or medically, underwritten life insurance policy, there is still another option for getting the protection that they need. This is through a guarantee issue policy. With this option, there is no medical exam required for underwriting purposes. Because of this, many people who have certain types of health issues are still able to qualify. Although the premiums on guarantee issue life insurance policies are typically higher than those on regular life insurance plans, they can provide a way to get needed coverage.
How and Where to Get Quotes on Life Insurance
When shopping for life insurance for people taking valium, working with an independent agency that has access to multiple insurers is usually best. We can help you to locate the best insurer for your needs, as we work with many of the top carriers in the marketplace today. We can get you all of the information that you need quickly and conveniently – and without the need to meet in person with a life insurance agent. When you’re ready to move forward, just get your first set of quotes by filling out the form on this page.
If you should have any additional questions about how to obtain life insurance while taking valium – or even if you just have a question regarding life insurance in general – please feel free to give us a call. We can be reached via phone, toll-free, by dialing 888-229-7522.
We understand that shopping for life insurance while taking any type of medication can seem somewhat overwhelming. You may not be sure that you can qualify – but the good news is that you do have many options. We can help you to find the coverage that you need. So, contact us today – we’re here to help.