Life Insurance Considerations for Asthmatics

Sufferers of Asthma, need life insurance too.

How and Why people with breathing health issues should get simple term life insurance policies.

About the underlying condition and why it may cost you more to buy simple term life insurance.

The Condition

Asthma is a complex condition that involves restrictions of the airways. Asthma is typically chronic and can be life threatening. According to the American Lung Association there is “no cure for asthma.”

That, however, does not mean that there are not lots of treatements for this condition. Some treatments involve inhalers and others involve nebulizers via a prescription from their physician. If you have asthma or think you might, you should see a physician.

Exactly what triggers and causes asthma is not widely agreed upon.

Why Asthma Cost More with Life Insurance:

The truth is is that that ashtma in rare circumstances can prove fatal. However it is can also be a secondary factor that leads to other issues. For example asthmatics that have the flu can see increased breathing problems. For those reasons and numerous others, asthma sufferres typically have to spend more on life insurance.

No General Agreement with Insurers:

There is no single way that life insurers handle life insurance for people with breathing problems. Some insurers will flat out deny the insurance application, some will provide you table ratings, whiile others may consider you for preferred pricing if your asthma is stable and controlled.

What is Controlled Asthma from a Life Insurers Standpoint:

What exactly constitutes controlled asthma is not a simple answer. However generally they involve the following criteria:

• No Emergency Room Visits for Asthma in the past several years.
• A good relationship with plenty of on time check ups with your general practitioner.
• On time prescription refills and all medicines taken.
• A clear note from the doctors that your asthma is consider in controlled.

When applying for life insurance, the insurers will have access to all your medical files that yoru doctor has filled out. Therefore they will be able to read all of the notes about all of your visits. The insurer will also be able to look up your prescription records.

How to Propertly Shop for Life Insurance When you Have Asthma:

There are several important things to do when shopping for term insurance when you have asthma.

Step One:

See your doctor and keep up with all of your prescriptions. If you doc tells you to do something – do it. This first step seems so obvious, but so many people fail to do it. A relative clean bill of health for a prolonged period of time is what life insurers are looking for.

Step Two:

Be honest about your asthma with your insurance agents. This too seems common, but again, so many people fail this test. In order for you to get best pricing, you will need to tell your insurance agent about your situation. Hiding your condition and having it show up while your proposed policy is being reviewed, generally will only cost you more money.

Step Three:

Contact your home auto insurer for a life insurance quote and make sure you tell them that you have asthma. Have all of the spcifics of your condition with you, such as the medicines that you take and any breathing statistics that you may have. Get the quote from the home auto insurer and then proceed to the next step.

Step Four:

Now contact an independent agent, one that works with dozens of life insurers. Take all of the same information that you gave to your home auto insurer and provide it to the independent life agent. Based on your criteria of what you need and your past medical information – you may be able to qualify for better pricing.

Step Five:

Go ahead and compare the insurance quotes that you have and make an informed decision based on the policy term legnth, coverage amount, premimum cost and the Financial Strength Rating. Choose the product that works best for you and your family.

What to do if you Get Declined:

If you get declined with your application for insurance, do not be dismayed. At this point you will absolutely want to reach out to a life insurance specialist who may be able to assist you further.

What is a Financial Strength Rating?

Simply put, a Financial Strength Rating is an expert opinion of an insurer’s ability to meet and pay out claims. In general you should buy the highest rated insurer that you can afford. For AM Best generally shooting for A, A+, and A++ should suffice for term insurance.

Johnson is an independent insurance agent based outside San Francisco CA, who is specializes in selling life insurance for asthmatics. He is an advocate of consumer rights and sufferers from Asthma himself.