Life insurance is a big part of most everyone’s financial plans. It is necessary for protection of those you love so that they can maintain their lifestyle, and so that they don’t fall into financial hardship.
This coverage, however, isn’t easy for everyone to obtain – especially if an applicant has certain types of health conditions, such as someone looking for life insurance for diabetics. That is because when a life insurance company reviews the application that is turned in by an individual, they want to ensure that they won’t soon be paying out a costly claim.
For those who have optic neuritis, this can be the case, as having this condition can affect your life insurance application – as well as the amount that you pay in premium for the coverage that you obtain. If you are in search of other insurance such as Veterans Life Insurance, we have options for you.
How Optic Neuritis Can Affect Your Life Insurance Application
Optic neuritis is a condition where the individual has inflammation of the optic nerve. This is the bundle of nerve fibers that transmit the visual information from the individual’s eye to the brain. Some of the more common symptoms of optic neuritis include pain, as well as a temporary loss of vision.
This condition is also associated with multiple sclerosis (MS), a disease the causes damage and inflammation to the nerves in the brain and the spinal cord. In fact, for some individuals, having the symptoms of optic neuritis may be the first indication that they have MS. Because of this, having optic neuritis can have an effect on a person’s application for life insurance coverage.
If, however, a person only has just one single episode of optic neuritis and he or she recovers their vision, then the condition is not considered to be as serious. This is because having treatment using steroid medications can even speed up the restoration of their vision.
Therefore, it will be important for the life insurance underwriters to obtain as much information as possible about an applicant’s overall health and health history, as well as about the applicant’s optic neuritis condition.
What the Life Insurance Underwriters Will Want to Know
In most cases, applying for life insurance will require that an individual fully complete an application for coverage. This application will ask for information regarding your:
- Height and Weight
- Occupation and Income
- Smoking Status
- Health and Health History
- Family Health History
- Habits and Hobbies
- Foreign Travel Frequency
- Other Life Insurance In-Force (and the amount)
In addition, due to applying for life insurance with optic neuritis, the underwriters will also need to obtain more in-depth details regarding this condition, and how it affects your overall health. Therefore, you will likely be required to answer some or all of the following questions as well:
- When were you initially diagnosed with optic neuritis? Even though optic neuritis is not considered to be a life-threatening condition, it can result in a person losing his or her vision if it is not managed or controlled properly. Therefore, there earlier it is detected and managed, the better a person will typically be. If there are no complications with the condition, it is possible to qualify for a mild substandard policy rating.
- Are you taking any type of medication for your optic neuritis condition? Many people who have optic neuritis take steroids to help in managing or controlling the condition. If, however, you have been taking steroids for a long period, the life insurance underwriters may need to do further evaluation before they can make a decision about your policy.
- Have you had any symptoms within the past six months? Experiencing common symptoms related to optic neuritis such as blurred vision, eye pain, or swelling in the eye(s) could be a signal that your condition is worsening. This, too, may require the insurance underwriters to further evaluate your information before making a final determination about your coverage. In some cases, it may require that you obtain an MRI before the insurance underwriters can make a determination about your policy and premium.
- Does your family have a history of multiple sclerosis (MS)? If you have a family history of multiple sclerosis (MS), then the insurance underwriters will need to evaluate further your case before making a final determination on your life insurance coverage. This is because, if your optic neuritis leads to MS, it can make a difference in the rating that your policy will be given, and likewise the premium rate.
- Do you regularly visit your ophthalmologist for check-ups? Having regular visits to your ophthalmologist for check-ups is a good sign to the life insurance underwriters that you are working to control and manage your health condition.
In addition to the application and additional condition-specific health questions, you will likely be required to take a medical exam as a part of the overall life insurance underwriting process. This exam will entail meeting with a paramedical professional, or “paramed.” Here, you will be asked some additional health-related questions, as well as asked to submit a blood and urine sample.
It may be that the life insurance underwriters will want to review your medical records from your primary care physician and / or from any other medical specialist that you see. To do so, however, you will need to provide your written permission. Once all of your information has been received by the insurance company, the underwriters will be able to make a more clear decision regarding your life insurance coverage, as well as a more appropriate premium price to charge.
How Much Will Your Life Insurance Policy Cost If You Have Optic Neuritis?
There are a wide array of factors that can have an effect on what is charged for life insurance coverage. These can include the type and the amount of insurance that is purchased. It can also include the age and gender of the applicant.
Also, the health condition of the insured will typically play a major role in the price of the policy. In the case of someone who has optic neuritis, the severity of the condition, the length of time they have had the condition, and whether or not the condition has led to / or is likely to lead to multiple sclerosis are all major factors in the price of the policy.
If your case of optic neuritis is not severe, if it is well managed, and it is not likely to lead to MS, then it may be that you could qualify for a mild substandard insurance policy. If, however, it is probable that your condition will lead to MS in the future, the underwriters will typically need to evaluate your application further before reaching a decision.
Should it be that you are not able to qualify for a medically underwritten life insurance policy, there are still options that are available to you. For example, applying for a no medical exam life insurance policy will not require that you undergo a medical examination as a part of the underwriting process.
Because of this, many applicants who have various health issues are therefore still able to qualify for life insurance coverage. And, although the premium that is charged on a no medical exam policy is typically higher than that of a comparable medically underwritten plan, it can provide you with the protection that you need to financially protect those whom you care about.
When you have a condition such as optic neuritis, it is typically always best to work with a company or an agency that specializes in high-risk applicants, and one that has access to more than just one life insurance carrier. That way, you will have a much better chance of finding a carrier that will work with you.
Where to Find the Best Life Insurance Premium Rates?
If you are ready to find the best life insurance premium rates for someone with optic neuritis, then we can help. We work with many of the top life insurance carriers in the marketplace today, and we can help you in obtaining all of the important information that you will need for making an informed buying decision. All you need to do is just simply fill out the form on this page.
Should you find that you still have any questions regarding qualifying for life insurance with optic neuritis – or even if you just have a question about life insurance in general – please feel free to contact us directly. We can be reached by phone, toll-free, by calling 888-229-7522.
We understand that having any type of health condition can sometimes make qualifying for life insurance questionable. But, when you have a high-risk life insurance specialist on your side, it can make the process so much easier – saving you countless hours of time, and frustration, throughout the entire time frame. And, unlike in the past, when applicants were often just flat out rejected for the coverage that they needed, today you have many more options that are available to you. So, contact us now – we’re here to help.