Life insurance is key component of most any good, solid financial plan. That is because the proceeds from a life insurance policy may be used for a variety of things by the beneficiary, such as the payment of final expenses, the payoff of large debt – such as a mortgage – and / or the ongoing living expenses that are needed for dependents and survivors.
If you have certain health issues, though, getting approved for the life insurance that you need may be more challenging. This could be the case if you have Morphea. In many cases, those who have Morphea can get approved for coverage. However, it may take assistance from an independent life insurance broker who can walk you through the process of finding the proper policy, and insurance carrier, for your needs.
How Morphea Can Have an Effect on Your Application for Life Insurance
Morphea is a rare type of skin condition that causes discolored – although usually painless – patches on the skin. Oftentimes, the skin changes may also appear on the chest, back, and / or the abdomen.
This condition will typically affect a person’s skin. Although there are some cases where Morphea can also restrict movement in the joints. Typically, women can be affected by this condition roughly three times more than men.
The symptoms that occur can often be dependent upon the type of Morphea that a person has. For example, with lichen sclerosus et atrophicus, an individual may have either local or widespread lesions on the skin, whereas other types of this condition can include the presence of nodules, plaques, or macules that can be roughly 5 centimeters in size.
At this time, medical professionals do not know what the actual cause of this condition is. However, it is likely that Morphea is a type of genetic autoimmune issue. And, even though Morphea will subside on its own over time, it can also reoccur. During a bout of Morphea, there are different types of medication available, as well as certain therapies, that can help in treating the discoloration of the skin, and the other effects. Some of the medications that tend to be used often include topical or systemic steroids. Ultraviolet light treatment may also be used, however, this is not yet a widely used therapy, as the outcome can be uncertain.
While it can at times be more difficult to obtain life insurance when you have a health condition, working with a company or an agency that has a focus on higher risk cases can be beneficial.
What the Life Insurance Underwriters Will Want to Know
When you apply for life insurance, there are a number of things that the insurance company will want to know before approving someone for coverage. Typically, you will be required to fully complete an application for coverage. This application will ask you for more details regarding your:
- Age / Date of Birth
- Height and weight (i.e., weight as it relates to your height)
- Occupation and income
- Marital status
- Smoking status / Tobacco usage
- Alcohol usage and the frequency
- Overall health history
- Family health history – such as a history of diabetes
- Foreign travel frequency
- Hobbies and habits (particularly activities that may be considered as risky)
Because you have Morphea, it is likely that the life insurance underwriters will want to know more about your condition before they will make a decision on your coverage, as well as on an appropriate premium rate. Therefore, you may also be asked to answer some or all of the following:
- When were you initially diagnosed with Morphea? While Morphea is considered to be a relatively minor condition, if it is not properly treated, then the lesions on the skin and the plaques could end up causing your additional issues over time. Therefore, if this becomes the case, your life insurance coverage could be rated as a Substandard – meaning that the premium that you are charged would be higher than that of an “average” individual who is of the same age and gender.
- Do you have a family health history that includes any skin cancer? The insurance underwriters will want to know about your health history and that of your family. This is because there are some conditions that are hereditary. This being the case, the life insurance company will want to obtain more details – especially as they may pertain to skin cancer and related conditions.
- How are you working to manage and / or control your Morphea? The insurance company will also want to know what methods or treatments you are using for the treatment of your Morphea. If you are taking any medication, the underwriters will also want to know the dosage(s).
- Do you regularly visit with your dermatologist regarding your Morphea? If you regularly visit your dermatologist for your condition, it can be a positive sign in the eyes of the underwriters that you are taking proactive steps to manage or control your condition.
- Do you have any other health conditions or issues? Depending on the severity of your Morphea, in combination with other health issues, you could receive a Substandard rating on your policy. If, however, you are otherwise in good health, then a Standard policy rating may be more likely. This means that you would be charged the same amount of premium as other policyholders who are of your same age and gender and who are considered to be in average health.
It is also likely that you will be required to take a medical examination as a part of the underwriting process. This exam will entail meeting with a paramedical professional who will take a blood pressure and a heart rate reading, as well as a blood and a urine sample.
If the insurance underwriters wish to have even more details regarding your overall health and health history, then they may request your medical records from your primary care doctor, any specialist that you see for your Morphea – or from both.
How Much Does Life Insurance with Morphea Cost?
The cost of life insurance coverage when you have Morphea can be dependent on some different factors. These will include the severity of your condition, as well as the ways in which you are working to manage or to control it.
Likewise, other factors that will help in determining the price that you pay for your coverage will include your gender, and your age at the time of policy application, as well as the type and the amount of life insurance that you are purchasing.
What If You Don’t Qualify for Traditional Life Insurance Coverage?
If it turns out that you do not qualify for a traditional, medically underwritten life insurance policy, there are still avenues that you can take for securing the life insurance coverage that you need. One strategy would be to apply for a no medical exam policy.
As its name implies, a no medical exam life insurance policy will not require that you take a medical examination as a criterion for your policy approval. Because of that, those who have certain health issues may have an easier time in qualifying for the coverage. Also, because there are no medical records to review, as well as no exam results to wait for, the process of getting a no medical exam policy approved and issued can be much faster than that of a traditional policy. This means that you may be able to have your life insurance coverage in place within just days – or sooner – after you submit your application for coverage.
How to Get the Best Premium Rates on Life Insurance If You Have Morphea
If you have been diagnosed with Morphea and you are seeking the best premium rate on life insurance, it is often recommended that you work with an independent insurance broker or agency that has access to multiple insurance carriers. That is because by doing so, you will be better able to shop and compare different policies and carriers, as well as premium prices, in an unbiased manner.
When you are ready to begin looking at policies, we can help. That is because we work with many of the top life insurance carriers in the marketplace today, and we can assist you in obtaining all of the details that you will need for making an informed life insurance purchasing decision. If you are ready to proceed, then just simply take a moment to fill out the form on this page.
We can also be contacted directly if you have any additional questions or concerns regarding getting approved for life insurance with Morphea. Please feel free to call us directly, toll-free, by dialing 888-229-7522.
We know that being approved for the life insurance you need is important. You want to ensure that your loved ones will have the peace of mind in knowing that their financial needs will be taken care of. So, contact us today – we’re here to help.