The purchase of life insurance can be an essential component of one’s overall financial planning process. This is because life insurance can help you to protect all that you have saved to ensure that your loved ones are secure in case of the unexpected.
For those who are young and healthy, life insurance can be relatively simple to purchase. In most cases, it just entails determining the amount of the coverage that is needed – and then applying for the policy. There are even options if you are interested in getting life insurance while pregnant.
But, if you have certain types of health conditions, getting an approval for the life insurance policy that you want and need may not be quite that easy. For example, those who have asbestosis, a lung disease that is the result of inhalation of asbestos particles, obtaining life insurance protection could become quite a challenge.
The good news is, though, by working with a high-risk life insurance specialist, it can be much easier to find the insurance carriers that will work with higher risk applicants. Plus, in doing so, you can also save yourself a substantial amount of time during the application process. Not only can we help with these specific high-risk needs, we can help with those needs such as finding the best life insurance companies for smokers, life insurance for diabetics, overweight individuals, or the best life insurance companies for pilots.
How Asbestosis Can Affect Your Life Insurance Policy Application
Asbestosis is considered to be a chronic lung disease. It is caused primarily by the inhaling of asbestos fibers. Asbestos is a type of natural mineral product that is resistant both to heat and to corrosion. This material was used a great deal in the past in products such as cement, insulation, and certain types of floor tiles. Having a prolonged exposure to these asbestos fibers can cause scarring of the lung tissue, as well as shortness of breath.
The symptoms of asbestosis can typically range anywhere from mild to severe – and, they will not usually appear until many years after an individual has been continually exposed to the asbestos materials.
When a person contracts asbestosis, the asbestos fibers and dust that they have inhaled will become trapped inside their lungs. When the lungs try – unsuccessfully – to remove the materials via their immune system, it will lead to the damage and scar tissue.
There are other health issues that can also be related to exposure to asbestos. These may include hardening and / or thickening of the lung lining, fluid around the lung, and cancer surrounding the lung.
Unfortunately, at this time, there is no treatment for asbestosis. The actual severity of this condition will depend on how long the individual was exposed to the asbestos, as well as how much was inhaled.
As the condition progresses, it can become more difficult to breathe – even well after the person is no longer exposed to the asbestos. It may even become necessary to require supplemental oxygen therapy. Eventually, asbestosis may even lead to lung and / or heart failure.
Because of this, when a person who has asbestosis applies for life insurance coverage, the underwriters will want to take a close look at their health information and health history before making a determination about their coverage.
What the Life Insurance Underwriters Want to Know When You Have Asbestosis
When applying for life insurance with asbestosis, you will first be required to fully complete an application for coverage. Here, you will be asked for information such as your:
- Contact details
- Smoking status
- Marital status
- Occupation and income
- Health history
- Family health history
- Foreign travel frequency
- Other life insurance in force
Because of your asbestosis, the insurance underwriters will want to know more specifics on this condition. Therefore, it is likely that you will be asked additional questions such as some or all of the following:
- How long were you exposed to asbestos? The length of time that you were exposed to asbestos will be a big determining factor in whether a person develops lung complications.
- Do you take any medication(s) for your asbestosis condition? If so, what medication(s) do you take, and what is / are the dosage(s)? The type of medication that you take can be an indication of the severity of your condition, as well as the type and severity of any complications that you may experience due to your condition.
- Have you experienced any symptoms of asbestosis within the past six months? Common symptoms of asbestosis can include shortness of breath and / or difficulty breathing. If you are still currently exposed to asbestos in your occupation, you could receive an automatic decline for life insurance coverage.
- Have you had any relevant lab or diagnostic testing performed within the past year? If you have had any relevant lab or diagnostic testing performed within the past year, the life insurance underwriters may wish to review the results of such tests, as these may help them in getting a clearer picture of your overall health condition.
In addition to the application questions, it is also likely that you will be required to undergo a medical examination. This will entail meeting with a paramedical professional who will take a blood and a urine sample. These samples will be tested by the insurance company for certain types of health issues that could cause risk to the insurance company. The paramedical professional may also ask you some additional health-related questions.
The underwriters may also want to review more health information via your medical records. These may be obtained from your primary care physician and / or from any medical specialist that you may see.
How Much Will Your Coverage Cost with Asbestosis
The premium price of life insurance will be dependent upon several different factors. These include an applicant’s age and gender, as well as the type and the amount of the coverage that is being purchased. Certainly, the individual’s overall health condition and health history will also play a key role.
In many cases, a person who is applying for life insurance with asbestosis will be able to qualify for traditional, medically underwritten coverage. In doing so, however, this will typically need to be through an insurance carrier that is more apt to take on higher risk life insurance applicants.
These carriers can be somewhat difficult to find on your own. However, working with an agency or a broker who specializes in high-risk life insurance cases can help you to locate these carriers quickly and easily. And, you may also be able to compare multiple life insurance policies, benefits, and premium quotes.
Just like other products and services, life insurance policies can differ significantly in premium price – even for the very same benefits – from one carrier to another. This is why it helps to compare before you buy.
What If You Don’t Qualify for Medically Underwritten Life Insurance Coverage
If your asbestosis condition is on the more serious side, and you are unable to qualify for traditional, medically underwritten life insurance coverage, there may still be other options that are available to you for getting the life insurance protection that you need.
One such alternative could be to apply for a no medical exam life insurance policy. These plans do not require that the applicant takes a medical examination as a part of the approval process. Therefore, individuals who have various health conditions may be able to more easily qualify for coverage.
How and Where to Find the Best Premium Quotes on Life Insurance with Asbestosis
When seeking the best premium quotes on life insurance with asbestosis, it is typically your wisest course of action to work in conjunction with a company or an agency that has a focus on higher risk applicants, and that also has access to multiple life insurance carriers. That way, you will be able to compare more than just one insurance policy and premium price.
When you are ready to determine the life insurance coverage that you may be eligible for, we can help. We work with many of the top life insurance carriers in the marketplace today – and we can assist you with finding all of the important details that you need for making a purchase decision. We can do so for you quickly and easily. So, when you are ready to move forward, all you need to do is just simply complete the short form at the top of the page.
Should you find that you still have any questions regarding getting life insurance with asbestosis – or even if you just have a question about life insurance in general – please feel free to contact us directly. Our experts are happy to assist you. We can be reached via phone, toll-free, by dialing 888-229-7522.
Even if you have been turned down in the past for life insurance with asbestosis, there are many options that are available to you now. And, you can find them much more easily with an ally on your side. So, contact us today – we are here to help.