Does asthma affect life insurance underwriting & your chance of getting cover?
When applying for life insurance, having a pre-existing condition such as asthma can cause premium payments to be higher than those individuals who do not have these conditions and may even cause individuals to be denied insurance coverage.
The insurance professionals at Insurance Hero can help these individuals find a life insurance policy that not only covers their pre-existing condition but also meets all their other insurance needs.
With our help, your asthma does not have to affect the cost of life insurance.
An Explanation of Asthma
A simple definition of asthma is the inflammation of bronchi, commonly known as airways. These small tubes carry oxygen in and out of the lungs and when someone suffers from asthma, these tubes become inflamed after contact with an irritant, causing tightness in the chest and difficulty breathing.
An asthma attack is classified when these symptoms begin and can vary in severity. Depending on the severity, these symptoms may require the individual to go to the hospital for treatment.
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Although the exact cause of asthma is not known, there are a number of theories regarding how asthma develops in individuals. Some of these theories link asthma to a family history of the condition as well as an association with other conditions, such as certain allergies and eczema.
Environmental factors combined with some of the above-mentioned theories have also come under consideration when determining how asthma is developed.
How is Asthma Treated?
There is currently no cure for asthma but there are a number of treatments available that are effective in managing the condition and preventing asthma attacks as well as helping to control and alleviate symptoms. These treatments include specific medications, identifying specific triggers or irritants for an individual, and some lifestyle changes. Some of the treatments currently available in the United Kingdom include oral steroids, preventer, and reliever inhalers.
How Asthma Can Affect Your Life Insurance Application…
When applying for life insurance, insurers will take a close look at the individual’s medical history. When it comes to pre-existing conditions such as asthma, increased cost of coverage is usually determined by the severity of the condition as well as the recency of symptoms.
Since asthma is a common condition and is diagnosed early, symptoms are usually well managed by the time an individual applies for life insurance. Because of this, many insurers will issue these individuals “standard term” insurance.
In cases where symptoms are more severe and have resulted in hospital attention or prescription needs in the previous two years, insurers may opt to offer individuals “rater premiums.” This means that the cost of the policy is higher to take the additional risk of the condition into account.
Another route that some insurance companies will take is to ask the applicant to provide more detailed information and history on their condition in order to make a more informed decision.
It is important to remember that all life insurance providers are not created equally. Because of this, each insurer may have a different policy when it comes to covering individuals with asthma and how they rate premium payments based on both lifestyle factors and medical conditions.
The professional insurance consultants at Insurance Hero can help individuals who have pre-existing conditions such as asthma find an affordable life insurance policy that meets all their needs.
An Explanation Of Asthma Video:
Further medical references: