Getting approved for life insurance can be easy for some – especially if they are in good health. But if you have certain types of adverse health issues, the life insurance underwriters may view you as being a higher risk to the insurance carrier, and in turn, a higher risk of a claim.
This can be the case if you have a condition such as Aplastic Anemia. But, if you have ever applied for life insurance coverage – even if you have been turned down for a policy in the past – there is good news. You now have more options that are available to you, primarily if you are working with a specialist in the high-risk life insurance area. This is where we can assist you. We can also help individuals who are looking for life insurance if they are overweight or obese or whole life insurance for diabetics.
Why Aplastic Anemia Can Have an Effect on Your Life Insurance Application
Aplastic anemia is a rare, but serious, health condition that happens when a person’s body ceases to produce enough new blood cells. Because of this, the body feels fatigued – and in turn, it becomes a higher risk for infections, as well as for uncontrolled bleeding.
People of any age can develop aplastic anemia. And, it can either come about suddenly, or it may alternatively develop over time and slowly get worse. There are some treatments that are available for this condition. These may include medication, as well as blood transfusions, and / or even having a stem cell transplant.
Some of the more common symptoms that are associated with having aplastic anemia may include bleeding of the nose, lips, and / or the gums, as well as bruising easily, weight loss, low blood counts, recurring infections, and other common symptoms of having anemia.
Because of this, it can be more difficult to qualify for medically underwritten life insurance coverage. When applying for life insurance, the insurance company underwriters will want to take a closer look at your application – and they will likely ask some additional questions in order to get a more detailed look at your condition.
What the Insurance Underwriters Want to Know When You Have Aplastic Anemia
To apply for life insurance with aplastic anemia, it will typically be necessary to fully complete an application for coverage. Here, the life insurance company will ask you for details about your:
- Contact information
- Smoking status
- Alcohol consumption
- Occupation and income
- Marital status
- Foreign travel frequency
- Hobbies / habits (particularly risky activities such as skydiving, scuba diving, rock climbing, etc.)
- Other life insurance in force (and the amount of the coverage)
Due to your aplastic anemia condition, the insurance underwriters will also likely ask for additional information, such as the following:
- When / at what age were you initially diagnosed with aplastic anemia?
- Do you take any prescription medication for your aplastic anemia? If so, what medication(s) do you take and what is / are the dosage(s)?
- Have you had any symptoms of aplastic anemia over the past six months?
- Have you had any relevant lab and / or diagnostic testing performed over the past 12 months?
- Do you regularly visit your medical professional concerning your aplastic anemia?
In addition to the application and additional questions that are asked, it is also likely that you will be asked to undergo a medical examination as a part of the underwriting process. During this exam, you will be meeting with a paramedical professional (or “paramed”). This exam takes approximately 30 minutes, and it may take place at your home, your place of employment, or another convenient location. The paramed will typically ask you some additional health-related questions. He or she will also request from you a blood and a urine sample that will be tested by the life insurance company.
The insurance company’s underwriters may also want to review additional information about your family health history, such as a history of diabetes, heart or kidney disease etc. This information may come from your medical records via your primary care physician and / or any other medical specialist that you may see.
How Much Will Your Insurance Cost with Aplastic Anemia
Life insurance premiums are the result of a variety of different factors. These include the amount and the type of coverage that you purchase, as well as your age and gender. Also, your health will play a key role in this as well. This is because the life insurance company bases the premiums in large part on the risk that the company is taking on.
When you have a condition such as aplastic anemia, the underwriters will be determining, based on their analysis, how much of a risk an applicant may be. If your health – other than your aplastic anemia – is good, then it may be possible for you to obtain a Standard rated policy. In this case, your premium would be on par with other policyholders who are considered to be of average health.
If, however, your condition is determined to be more serious, then your policy may be rated as a Substandard. In that case, the premium amount that would be charged will be higher than that of an average, or Standard, policyholder.
It is important to note, though, that not all life insurance companies will underwrite their applicants for coverage in the same manner. This means that you may apply for coverage at several different insurance carriers – for the exact same amount and type of coverage – and be quoted three very different rates.
This is why it is important to work with an agency or broker that has access to more than just one single insurance carrier and to compare multiple premium quotes before moving forward with a decision. It is also important to ensure that the agency you work with specializes in higher risk life insurance cases. That way, they can help you to find an insurance carrier that is more apt to take on applicants who may have certain types of health related issues.
What If You Don’t Qualify for Medically Underwritten Life Insurance Coverage
If it is determined that you won’t qualify for a medically underwritten life insurance policy due to your aplastic anemia – or for another reason – then there are still other options that may be option to your for getting life insurance coverage. One of these is to go the route of a no medical exam policy.
A no medical exam life insurance policy will not require you to undergo a medical examination as a part of the underwriting procedure. Because of that, many people who have various health issues are still able to qualify for insurance protection. And, because there are no medical underwriting criteria to sort through, these policies can also be approved much more quickly – meaning that you could essentially have your policy within just a few days as versus weeks (or months) that is can take for a traditional life insurance plan.
It is important to note that no medical exam life insurance policies are typically costlier in terms of the premium. This is because the applicants for these policies are often not in the best of health so that they may pose a higher risk to the insurance company. However, these policies can provide an option to many individuals in terms of obtaining the life insurance coverage that they need.
How and Where to Find the Best Premium Quotes on Life Insurance with Aplastic Anemia
If you are seeking life insurance with aplastic anemia, then it will be important to work with an agency that deals in higher risk life insurance applicants to obtain the best premium quote for you. In doing so, we can help.
We work with many of the top life insurers in the marketplace today – and we can easily assist you in finding all of the important details that you will require. We can do so for you directly from your computer, and without the need to meet in person with an insurance agent. If you are ready to move forward, all you have to do is just simply filling in the brief form at the top of this page.
Should you find that you still have any questions at all regarding being approved for life insurance with aplastic anemia – or even if you just have a basic question about life insurance in general – then please feel free to contact us directly. We can be reached by phone, toll-free, by dialing 888-229-7522.
We understand that finding life insurance may seem a bit overwhelming – especially if you have been turned down in the past. But if you have a health condition such as aplastic anemia, you have many more options that are available to you today. And, now you have an ally on your side that can help to get you to the right carrier for your insurance coverage needs. So, contact us today – we are here to help.