Looking for a life insurance policy isn’t fun. It can be a long and frustrating process, and nobody wants to think about their own death. It’s a confusing purchase, but it’s even more difficult if you have a pre-existing condition like epilepsy.
If you’re looking for life insurance with epilepsy, you’ve come to the right place. Below you’ll find all the resources you need to get affordable life insurance with epilepsy, and what factors are taken into consideration at the time of application.
Epilepsy, on it’s own, is not descriptive enough to determine eligibility. There are different types and different levels of severity, and these are the only factors which can be taken into consideration to get an accurate quote.
Can you get life insurance with epilepsy? Yes.
Can you be declined? Yes.
If you need life insurance and seizures from epilepsy are something you deal with, continue reading to see if there is a possibility you could get approved from one of the major life insurance carriers.
Life Insurance With Epilepsy
Epilepsy is widely considered to be a syndrome rather than a disease, and many of its root causes go unknown, especially early onset epilepsy or congenital epilepsy. There are many complications which revolve around epilepsy and life insurance can be hard for some to secure because of the chronic issues.
There are also different classifications of epilepsy, and the severity of each ranges from mild to persistent. For the most mild cases when someone is approved for life insurance with epilepsy, standard rates are possible. For the more difficult cases, a decline is more likely. However, there are companies who offer guaranteed issue life insurance policies, life insurance policies for those with COPD or million dollar life insurance, so being approved is very likely! In order to define a specific rating, an underwriter has to form a profile based on all the details not only surrounding the epilepsy, but other health as well. Are you pregnant or wondering if you can get life insurance while pregnant? We can help answer this question and many others to be sure you are getting the coverage you deserve.
Classification is the first step to being underwritten for life insurance with epilepsy or seizures. They are as follows:
- Grand Mal
- Petit Mal
- Partial Seizure: Complex
- Partial Seizure: Simple
The next step is identifying any possible root causes, such as brain tumors or scars resulting from other illnesses or accidents. Often times, if this is the case, a decline will probably result. Some other factors are as follows:
- Current Age
The proposed insured needs to be at least a young adult, where most carriers require they be at least 18 or even 21. This is to give the insurance company enough of a track record to go off of, so long as ample documentation can be provided.
The frequency of seizures also has a profound effect on being qualified for life insurance with epilepsy. If seizures only occur every other year or less, you may be able to get a standard rating, the best offered to anyone with epilepsy. If seizures are more frequent, occurring multiple times per year, you can expect a sub-standard rating or decline. One seizure every 3 months will almost always be a decline.
Behavior and occupations simply refers to how a person with epilepsy is affected in their daily life. There is no direct tie to decreased life spans for someone with epilepsy, but there is a strong tie to fatal accidents. If a persons daily activities involve driving a vehicle, this can be seen as a hazardous activity for someone with epilepsy. Occupations where a person may fall, be responsible for machinery or other hands on work are also considered risky in the even the person loses consciousness.
Other considerations when applying for life insurance with epilepsy include, but are not limited to:
- Episode Type
Medications have been shown to help, but not in all instances. Some even debate medical marijuana could be used as a medication or treatment, although substantial evidence is still limited. If surgery has been performed, underwriters will want to know when, how effective it was (if at all), and what symptoms have or haven’t changed. If surgery was recent, you may be required to wait until more time has passed.
The type of episode experienced by someone with epilepsy matters also. While some only feel an unconsciousness, others may have much more violent and less controlled instances.
If you or someone you know is looking for life insurance with epilepsy or seizures, please don’t hesitate to contact us. We can ask more detailed questions involving your case, and evaluate if applying for a life insurance policy would be right for you. We’ll be honest and tell you if it’s not. Remember, not everyone who applies for traditionally underwritten life insurance with epilepsy will be insurable. If you find out that you aren’t insurable, don’t panic, there are still several options to get you life insurance coverage.
If you’ve been turned down for a traditional underwritten policy, or you are turned down in the future, you can purchase a no medical exam plan. These plans are exactly what they sound like, you’ll get the insurance coverage without having to take the health exam. Are you wondering if you can qualify for life insurance if you’re overweight? We can answer this question and help you find the coverage you deserve.
There are several advantages to these policies, but there are several serious disadvantages. The obvious advantage is that even for someone with serious health complications, they are able to get insurance coverage that they couldn’t be approved for otherwise.
The other benefit of these plans is how quickly you can be approved for coverage. Unlike with a traditional plan, since you don’t have to go through the medical underwriting, you don’t have to wait to schedule an appointment and then wait for the results. With most no exam policies, you can get insurance coverage in a matter of a few days.
Now for the pitfalls of these no exam options. The first is that you’re going to be paying more for your policy than with a medically underwritten option. Because the insurance company won’t get a clear picture of your health, they are taking a lot of risk by insuring you, and that risk translates to high monthly premiums for you.
The other disadvantage is the coverage limit that these plans have. Unlike with medically underwritten policies, there is a low ceiling on the size of the policy that you can get. If you decide that you need more coverage than the policy offers, you can purchase additionally no medical exam plans to fill in the coverage gaps.
Working with an Independent Agents
One of the best ways for you to get life insurance coverage is by working with an independent agent. Instead of only representing one agent, these agents represent dozens of insurance companies and understand the insurance landscape. It’s important that you find an insurance company that views epilepsy or any other issue you may have such as needing life insurance with depression, more favorably. Instead of having to do the research and call the companies yourself, let us help you through the process. Our agents are dedicated to getting you quality coverage and an affordable price. No family should have to go without the policy they want because of being denied or expensive premiums.
Deciding How Much Life Insurance to Buy
Aside from picking which type of policy and what company to buy it from, it’s vital that you get the perfect amount of coverage. You have to find the delicate balance of having enough insurance, and not paying for more coverage than you need. There are two major factors that you have to consider when finding this balance, your debt and your salary. Two of the most common uses for an insurance policy is to pay off all of your debt and replace your salary after you pass away. You’ll need to do some math to ensure that you have the right amount of coverage. Add up all of the debt that would be left to your loved ones if something tragic happened to you. Everything from your mortgage to your funeral expenses.
After that, think about how much financial loss your family members would experience after your passing. Do they rely on your salary to pay for basic expenses? How would they cope without that salary? If you have loved ones that count on your income, the goal of your insurance plan is to replace that salary without having your family be put under financial strain.
If you have any questions about life insurance or getting a policy with epilepsy or any other pre-existing condition, feel free to contact us at any time. Having life insurance is one of the best things that you can do for your family, don’t put it off any longer.