Life insurance is the most important purchase that you’ll ever make for the future of your family. It’s one of the only ways that you can ensure they will have the protection that they need, regardless of what happens to you.
Depending on your severity, life insurance with asthma is pretty easy to obtain, but the rating you get will vary.
Asthma affects over 15 million Americans, so it’s something insurance companies are very familiar with.
But if you know the right one to work with, your premiums could be drastically lower.
If you or someone you know suffers from asthma, life insurance won’t be difficult as long as the rest of your health is in check. If you have other health conditions such as lupus and you’re wondering if you can qualify for life insurance with lupus, we can answer this question and many more. Let us help you in your search.
Life Insurance With Asthma
Asthma is something which can start very early on, but it can also develop later in life due to health or environmental factors. While the majority of cases of asthma are seen as a low risk for life insurance providers, there are a few exceptions which aren’t so favorable for getting coverage.
The first concern when applying for life insurance, is to disclose what level of asthma you’re dealing with, and what your history has been in the way of complications or flare ups. Here are the different types:
The vast majority of people who have asthma have a seasonal asthma. Different environmental factors, like allergens, cause mild complications, but for most of the year, there are little to no signs or symptoms of having asthma. In this case, you can still receive the best ratings available by most carriers.
If you deal with a mild case of asthma, you’ll still be able to qualify for some of the best rates, even discounted rates above standard premiums. You are considered to have a mild case if perhaps you take medication or use an inhaler, but it’s relatively infrequent. Usually someone who has been hospitalized multiple times due to an asthma attack would not qualify for this level, unless those visits were several years ago and your medical history is clean otherwise.
If you have had trips to the hospital, are reliant on medication or use an inhaler frequently, you could be categorized as a moderate case for asthma. While you can still find a standard rating through some insurance carriers, it definitely won’t be all of them. Depending on other related health concerns, if you have them, you may even be given something lower.
The final and hardest to insure, called severe, pertains to someone who has dealt with many hospitalizations, is heavily dependent on medication and inhalers, and has frequent issues with asthma. A substandard rating here would probably be the best case scenario, as long as the rest of your health was fairly good.
Each of these categories are going to play a role in how much you pay for your life insurance coverage. Regardless of which kind of asthma you have, it’s important that you always follow your doctor’s orders and carefully manage your asthma. Having well controlled asthma is going to help you get the rest rates from your insurance policy.
What To Tell Us When You Apply
There are a number of things we’ll want to know in order to find you the best matched carrier, with the best rates for your particular situation. In addition to what’s listed above:
- When was your first diagnosis for asthma?
- What complications have you had recently?
- Are you taking medication/steroids? If so, how often?
- When were you last hospitalized due to asthma?
- Are you a smoker?
- Are you showing signs of improvement, or is your asthma worsening?
Your answers to these will allow us to put the most accurate description of your asthma together when we request quotes from all the carriers, and the more information we have, the better quote we’ll be able to find for you.
The more stable you’ve been over a longer period of time, the greater your chance of securing coverage at the best rates. Remember, though, every case is unique. Your situation may not be the same as the person before you.
Buying life insurance with asthma is usually not an issue for our clients, so contact us today to find out how we can help you as well. Just keep in mind your entire health profile matters, not just your asthma.
There are dozens of different factors that the insurance company is going to review when looking at your application. Before the company approves your application, they are going to require that you go through a medical exam (unless you choose a no exam policy), and this exam is going to look at your overall health and calculate how much of a risk you are to insure.
If you want to increase your chances of getting an affordable life insurance policy, there are several lifestyle changes that you should make. The first thing to do is improve your health through a healthy diet and getting regular exercise. Both of these are going to help you lose weight, lower your blood pressure, and lower your heart rate, all of which are going to translate into lower monthly premiums. But if you are overweight, you can still find life insurance for obese individuals. Let us help!
Additionally, you’ll need to eliminate any tobacco that you currently use. Tobacco users are going to pay much more for their life insurance versus what a non-user is going to pay. In fact, tobacco users are going to pay twice as much for the same amount of coverage.
If you have any questions about life insurance or getting coverage with asthma, please contact one of our agents today. We would be happy to answer those questions and ensure that you’re getting the best coverage available to you. Don’t wait any longer to get the life insurance coverage that your family deserves.
Not having life insurance is one of the worst mistakes that you could make. If you were to pass away, all of your debts and final expenses would be left with your loved ones, which can put them under a mountain of debt. So if you’re needing $100,000 of coverage or you want to know how much a million dollar policy is, we can answer your questions and help you get the coverage you deserve.