Shopping for Life Insurance with Asthma?
Using an inhaler daily and getting rejected by insurers?
Paying Outrageous Sums for Term Life?
(Imagine saving hundreds on term life insurance-and you should.)
Because Controlled Asthma Shouldn't Have to Cost you an Arm and a Lung.
If you are looking for information concerning asthma and rates for asthma life insurance - Congratulations - You have come to the correct place! Now: Read, Learn, and Save.
Asthma & Life
Asthma is a complex breathing condition and its unfair to quickly summarize its effect on life insurance rates - but in general having asthma will mean paying more for life insurance. The good news is that if your condition is well treated and you are doing exactly what your doctor is advising you may be able to save money if you are choosy about the life insurance company.
According to the American Academy of Allergy Asthma and Immunology - about One in Twelve Americans had asthma in 2009. One in Ten American Children have asthma as well. Asthma, sadly, accounted for over 3,400 deaths in 2010 and complicates greatly, other health situations such as influenza. In the case of influenza - asthma increases hospital visits dramatically.
Why Asthma Can Cost you
More for Life Insurance
Life Insurers do not like uncertainty. An asthmatic client can bring much uncertainty to the table. Asthma like other conditions is prevalent with numerous other health conditions - such as Obesity. Asthma can be triggered by numerous specific environmental conditions such as work related conditions, exercise, cold air, any more. Therefore life insurers really like to know more about a given client's condition and prefer to see that the patient has been in a long term treatment plan and is following that plan.
Generally speaking asthma will cost you more for term life insurance. However how much more per year it costs you will vary dramatically on your given condition, what medications you are one, how frequently you see your physician, and how often you have visited the emergency room for last minute treatment.
Treatment for asthma can span from controlling environmental triggers - such as pet dander or cold winter air to comprehensive solutions such: medications, inhalers, and injections. Since asthma is triggered by so many different environmental and lifestyle factors it is difficult to summarize them. Most consumers think of the inhaler - when they think of asthma and an inhaler is often a frequently prescribed solution for breathing issues such asthma. Inhalers can also be used for other breathing issues such as COPD.
Inhalers can loosely be broken down into emergency inhalers, such as proventil that you are used when patients need immediate assistance and longer term solution inhalers, such Advair, Dulera, and Symbicort - which assist in controlling asthma long term.
However asthma can be treated with other tools such as nebulizers, injections, sprays, and oral medications as well. Patients often choose to see a breathing specialist where numerous lung tests are performed and long term care monitored.
There is good news for consumers that wish to buy life insurance with breathing conditions such as asthma. With all of the medical advances, many patients are now fully able to control (to some extent) their asthmatic conditions. And controlling your asthma is the name of the game.
As a general rule of thumb, insurers would prefer to see a condition that is known about and treated than one that is either not known or is not being treated properly. Therefore just discovering that you have asthma may be half the battle.
How to Save Money
with Asthma &
Saving money buying life insurance when you have any condition has similar best practice rules. Once you have been diagnosed with a chronic condition, you need to follow up with all of the doctors treatment plans and take any and all prescribed medications or procedures. In other words if a medicine is sent into the pharmacy - go get the medication and start regularly taking it. Although this may seem a very obvious thing to to, it is surprising how many Americans do not follow the routine set out by the physician.
The second consideration is to work to get your asthma under control. Most insurers would rather not see Emergency Room visits on your file. So if you are able to get the conditon under full control with the combination of medicines, procedures, and potentially even life style changes, you may come out way ahead.
A third tactic is to regularly fill all of your prescriptions. Again this may seem overly obvious, but missing an occasional refill may demonstrate to the insurer that you are hap hazard taking your meds. Sometimes patients that have chronic conditions find getting their medicines via mail order far easier, if not cheaper. Mail order prescriptions potentially could solve this problem for insurers.
Another intelligent thing to do is it forge a relationship with your attending doctor. Inquire with her or him about your condition and your desire to get it fully under control. Meet back with him or her at the appropriate times and make sure that you follow up when requested.
When shopping for life insurance its important to understand that once you have been diagnosed with a chronic condition such as asthma or COPD or any other breathing issues - is that the general life insurance rates no longer apply to you. Now you will need to shop for term life with an eye on your condition. When you speak with an agent or broker - ask about their acceptance of your condition. If and when the agent stares at you or does not know - move on.
Avoid, getting a life insurance decline. Getting declined by life insurance can happen when you have ongoing condition such as asthma. Often it will happen with the client is not following the routine laid out, or when the condition is not considered controlled.
Sample Life Insurance
Rates for Asthmatics
Life Insurance Rates for Asthma suffers has a significant range based on the overall health of the client and the general condition of the asthma. Generally the best that a client may be able to qualify, assuming the asthma is extremely mild and completely under control is generally a preferred classification. Preferred is one step below the best. Sometimes carriers will be more willing to accept you at their Standard Plus and Even Standard classifications, which are both terrific health classes for those suffering from asthma. We would want to speak with you live on the phone to confirm your eligibility for this program.
For some asthma patients Table rating may be the best that you are able to qualify for. Table ratings, although are typically higher than standard life classifications. These usually cost more money.
Non Smoker - Asthmatic Pricing Twenty Year, $500,000 Premium range:
|$500,000 - 20 Year Term |
|Rating||California Male, 35|
|$500,000 - 20 Year Term|
|Rating||California Female, 35|
These are of course theoretical pricing and will probably not pertain your exact situation. The reason for showing these numbers to clients is to demonstrate the range of insurance premiums for non smokers that have asthma. Although rare, it is possible for asthmatics to qualify with well treated asthma for preferred pricing. Often for people whose asthma has been left less well treated and who have visited the emergency room more recently they are on the higher range of these prices. It is also possible that some people will be Flat Out Declined for life insurance.
"Failure to Shop with the a Life Insurance Specialist Can Cost you Real Money."
If you focus on the above chart you can see that some asthmatics may pay $764 per year for $500,000 in term insurance while others could pay just $340. How is that possible? It is possible for two reasons. One is that some asthmatics may be considered to have controlled asthma, while others do not. The other major reason is that some insurers are more comfortable with asthma.
Finding those carriers that write asthma term insurance may be your best bet.
Best Practices for
If you have asthma or any other form of breathing health issues and you wish to purchase term life insurance, consider doing the following:
Asthma & Life
Detailed information about life insurance with infographics.
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