Asthma is extremely common. Millions of people have exercised induced, allergy induced, or just plain old asthma.
For 99% of people, asthma is a minor condition which can be managed with a rescue inhaler or a daily inhaler.
As long as it’s managed, asthma won’t have too huge of an impact on your daily activities.
While it might not change your daily job, it could change your life insurance application.
Every single mark on your health records is going to be scrutinized by the insurance underwriters and agents – let’s look at how they will view asthma.
Life Insurance With Asthma
Before you go through the application, there are some questions you should be prepared to answer.
Knowing the questions before they are asked will make the process less stressful. These include:
- When was your initial diagnosis of the condition?
- What are the particular asthma symptoms that you suffer from?
- What type of asthma do you suffer from? (i.e., is it allergic or non-allergic asthma? With allergic asthma, your symptoms are typically triggered by external sources such as pollen, dust, or mold, whereas with non-allergic asthma your symptoms are triggered by sources other than allergies such as cold air or exercise).
- How often do you typically suffer from asthma attacks?
- What is the usual severity of your asthma attacks?
- Which medications, if any, have you been prescribed for your condition?
- Have you ever needed to go to the emergency room due to your asthma condition?
- Have you ever been hospitalized due to your asthma condition or due to an asthma attack?
- Have you been restricted from doing any activities?
- Do you currently smoke, or were you a smoker in the past? If you were a smoker in the past, when did you quit smoking?
Other factors that can affect the underwriting of your life insurance application, as well as the premium that you will pay if you are approved can include your:
- Date of Birth
- How tall are you and how much do you weight?
- Are you married?
- Overall health condition, do you have other conditions like diabetes?
- What’s your job and income (if applicable)?
- Hobbies and lifestyle
- Amount of foreign travel
Unless you opt for the no medical exam required insurance policy, you’re going to have a few more hoops to jump through. The questions are only part of the application – the other portion is the medical exam.
The company will work with you to schedule a time a nurse can come to your home. Then the nurse will get all of your basic vital signs and collect a blood and urine sample.
The medical exam won’t take long, and then all of the info will be sent to the underwriters to comb through and review.
How Much Premium Will You Pay When You Have Asthma?
With asthma, the underwriters will classify your pre existing health condition into various categories such as mild, moderate, or severe. These categories are based upon the medications that you take, as well as how debilitating the condition is to you.
For example, with mild asthma, you will not typically have any type of disability between your asthma attacks. Likewise, your attacks will occur infrequently and you will not have been hospitalized because of your condition.
In addition, the medications that you use will be considered “first line,” meaning that they are basic pills or inhaled bronchodilators.
With moderate asthma, you may have more difficulty in breathing between attacks than you would with a mild case of asthma.
Here, the number of asthma attacks that you have may increase over time, and you may also move up to using “second line” medications such as Prednisone or Alupent.
If you have severe asthma, you may have even more frequent hospitalization occurrences, as well as more frequent asthma attacks and more difficulty in breathing between the attacks. You will also likely be using “third line” medications such as a continuous use of either injected or oral steroids.
For those who have mild asthma, you might grab a standard rate – and in some cases, there are instances where extremely healthy individuals have been able to qualify for a preferred rate. As long as your asthma is controlled, you can secure a standard rate.
Otherwise, a Substandard rating is more likely and you will be looking at high-risk life insurance rates. Those who suffer from severe asthma are typically rated on a case by case basis, but are usually rated as a Substandard as well.
How To Get The Best Life Insurance Rate Possible
Asthma usually isn’t a make or break condition when it comes to life insurance. Depending on the severity and the diagnosis, it should create too many hiccups. But every company is different.
If you want perfect rates, this is where our agents can come in.
How can we help? It’s easy, we are teamed up with highly rated life insurance companies. We’ve made it our mission to help as many people as possible find quality coverage at a cheap rate.
This is especially true for anyone who smokes cigarettes or uses chewing tobacco. Why’s that? Because smokers pay twice as much for life insurance. Yes, Double!
Don’t spin your wheels looking for a plan you can actually afford, go ahead and save yourself time and trouble and make one short call to use.
We will deliver you the best quotes from the top companies out there. Are you ready to get started protecting your family? If so, we suggest giving us a ring or using the form.