Having certain health conditions such as emphysema or wondering if you can get life insurance with COPD, can certainly be more of a challenge.
The good news is that many people can still qualify for life insurance coverage, even if they have emphysema. Doing so, however, may entail working with a life insurance specialist that has a focus on higher risk cases.
By having access to numerous life insurance carriers, we can assist you in finding one that is more apt to work with those who have emphysema and/or other health conditions. Many people may not realize that, even if submitting an identical application to more than one insurer, the answer could come back different regarding qualifying, as well as about the premium rate.
Working with a company that can find the best company more quickly can help you with saving a lot of time – as well as frustration – throughout the process of finding and qualifying for life insurance coverage.
How Having Emphysema Can Effect Your Life Insurance Application
Emphysema is a condition that affects the lungs. While all people that have this condition may be different, emphysema will typically create damage in the lungs by creating small pockets where air can become trapped. Because of this, it can be difficult to blow air out forcefully – and, the more air that becomes trapped, the worse the affected person’s breathing function can become.
In obtaining a better view of just how a person is affected with emphysema, medical professionals will oftentimes turn to pulmonary function testing or PFT. This type of testing can assist doctors with following the lung capacity in an individual.
When taking part in pulmonary function testing, an individual will breathe and blow air through a tube, while the airflow is being measured. In many cases, the prognosis of an individual who has emphysema will be tested in this manner.
Because emphysema can become severe – and even life-threatening – someone who is diagnosed with this condition will be required to answer additional questions when applying for life insurance so that the insurance underwriters can assess just how much risk the insurance company may be taking on.
What the Life Insurance Underwriters Will Want to Know About You
Other than your demographic and socioeconomic information, your emphysema is going to trigger additional questions about your situation. We’ve talked to our agents and compiled some questions that underwriters might ask you. A few of them are below:
- When were you initially diagnosed with emphysema? If you were diagnosed early in the emphysema stage, then you may be able to make a full recovery – and, if this is the case, then it may be possible to obtain a Standard policy rating on your life insurance. If, however, you have active symptoms of this condition – including coughing and/or labored breathing – then it may not be possible to get a rating of Standard, but rather a Substandard rating on the coverage. (In more severe cases of emphysema, an individual may even be declined altogether for the coverage).
- Are you are current or a previous smoker, and if so, how long have you been smoking or how long did you smoke? You can still get life insurance for smokers. It will be important to let the life insurance underwriters know about your current or past history with smoking. This is because smoking can be a key factor in getting emphysema, as well as in its progression and severity. If you are a former smoker, the amount of time since you had your last cigarette can also make a difference in your policy approval and rating.
- Does any other member of your household currently smoke? If someone else who lives in your household is a smoker – even if you are not – then it can have an effect on the approval and the rating of your life insurance coverage.
- Within the period of 12 months, approximately how many times do you experience the symptoms of emphysema? If you are having frequent attacks, then it could be a sign that your emphysema is more serious. If, however, you experience symptoms on a less frequent basis, then you will likely have a better chance of getting a better rating on your coverage.
- Do you presently take any type of medication for your emphysema – and if so, what do you take and what is/are the dosage(s)? if you currently are taking certain types of medication for the management and/or control of your emphysema, then it could help with the rating of your life insurance coverage. Some of the common medications that are taken for emphysema can include steroids and/or using a bronchodilator to assist you with your breathing function.
- Over the past six months, have you had any relevant diagnostic testing performed due to your emphysema condition? It is possible that the life insurance underwriters will want to review the results of these tests. This is because doing so could help the underwriters to obtain a clearer overall picture of your health. Even if you are overweight you can still get life insurance so don’t let this stop you for getting the coverage you deserve.
In addition to the application for coverage and the other questions that you may be asked, it is also probable that you will be required to undergo a short medical exam. This is part of the underwriting process where you will meet with a paramedical professional who will typically ask you some additional health-related questions. They will also take from you a blood and a urine sample. These samples will then be tested by the insurance company for certain other risk-related criteria.
After all of your pertinent information has been received by the insurance company, it will be easier for the underwriters to conduct a thorough review, and from there they can determine whether you will be approved, as well as determine an appropriate premium rate if you are.
How Much Does Life Insurance Cost If You Have Emphysema?
When a person applies for life insurance with emphysema, the premium cost of the coverage can vary, depending on certain circumstances. With any life insurance, some of the key criteria that will determine the cost of coverage is the amount and the type of policy that you are applying for. Other factors will also include your age, gender, and overall health condition.
If even with having emphysema, it’s possible to get a Standard rating on your policy, given that the rest of your health is in great shape.
However, if it is determined that your health is not up to par with that of an average policyholder, then you may be given a Substandard rating on your policy – and in turn, the amount of the premium will be higher.
What to Do If You Don’t Qualify for Coverage
In some cases, a person who has emphysema won’t be issued a medically underwritten policy. In this instance, however, there can be other possible options for you. One such option is to apply for a no medical exam policy.
This means that you will not need to submit to the insurance underwriters a blood or urine sample. Because of this criteria, it can be easier for those who have certain health conditions to still qualify for life insurance coverage.
Another possible avenue for obtaining life insurance with emphysema is to apply for a guaranteed issue policy. In this case, provided that you simply continue to pay your premium, your coverage will be approved and will remain in force.
It is important to note that the premium amount that is charged for a no medical exam or a guaranteed issue life insurance policy will be higher than that of a comparable policy that is traditionally / medically underwritten. This is because the applicants for these types of policies are considered to be riskier to an insurance company. However, these types of policies do present a solution for many people who need life insurance but cannot get it through any other avenue.
How and Where to Get the Best Rates on Life Insurance with Emphysema
In seeking life insurance approval with emphysema, it is often best to go through an independent company or agency that has access to more than just one single life insurance carrier. In doing so, you will be better able to compare insurance policies, benefits, carriers, and premium rates – and from there, you will be able to choose the one that is best for you and your coverage needs.
So look no further! Our agents are all independent and are ready to help you get into the policy that fits you and your families needs best. ]
We invite you to fill out the form to get some sample quotes, or reach out to our agents by calling 888-229-7522.