Life insurance with Costochondritis.
In this article, we wanted to take a moment and try and answer some of the most common questions we get from folks applying for life insurance after they have been diagnosed with Costochondritis.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been diagnosed with Costochondritis?
- Why do life insurance companies care if I’ve been diagnosed with Costochondritis?
- What kind of information will the insurance companies ask me or be interested in?
- What rate (or price) can I qualify for?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’ dive right in!
Can I qualify for life insurance after I’ve been diagnosed with Costochondritis?
Yes, individuals can and often will be able to qualify for a traditional term or whole life insurance policy after they have been diagnosed with Costochondritis. In fact, many may even be able to qualify for a Preferred Plus rate class!
The only problem is…
Because there are quite a few reasons why someone might end up developing Costochondritis, what you’re usually going to find is that PRIOR to being approved for coverage, most (if not all) life insurance companies are going to want to ask you a few questions about your Costochondritis just to make sure that it isn’t something that they need to worry about.
Why do life insurance companies care if I’ve been diagnosed with Costochondritis?
For the most part, it’s safe to say that most life insurance companies aren’t going to be all that concerned with the fact that an individual has been diagnosed with Costochondritis once it has been determined that the underlying pre-existing medical condition which may be causing you to suffer from this condition isn’t a serious one.
On its own, Costochondritis is just an inflammation of the cartilage located within the rib cage. Usually just affecting the upper ribs which are attached to the breastbone or sternum, which is commonly referred to as the costosternal joint or costosternal junction (thus the name costo-chondritis which).
An inflammation that…
Can usually be treated with over-the-counter medications and in some cases nonsteroidal anti-inflammatory drugs. But, where we can run into trouble is when we begin looking at what might be causing you to suffer from this inflammation. Because while it’s true that Costochondritis can be cause by a physical injury or a muscle strain, it can also be caused by:
- Certain viruses or respiratory conditions such as tuberculosis and syphilis,
- As well as certain types of arthritis.
Where in cases like these…
The fact that you have been diagnosed with Costochondritis takes a “backseat” during the underwriting process since most life insurance underwriters will now be much more interested in the underlying pre-existing medical condition which is causing you to suffer from Costochondritis. It’s in cases like these that one should expect that their life insurance application may become more “complicated” and may require that you submit copies of your medical records along with your application so that the insurance companies can get a complete understanding of all of your health “issues”.
Before any of that is likely to happen what will usually happen is that you’ll first be asked a series of medical questions designed to separate those who have simple cases of Costochondritis related to some kind of “physical” injury or strain vs those who may be suffering from Costochondritis due to some other more “serious” medical condition.
What kind of information will the insurance companies ask me or be interested in?
Common questions you’ll likely be asked may include:
- When were you first diagnosed with Costochondritis?
- Who diagnosed your Costochondritis? A general practitioner or a specialist?
- Do you know what has caused your Costochondritis?
- Have you suffered from a recent injury?
- Have you suffered from a recent muscle strain?
- Have you been diagnosed with any pre-existing medical conditions which could cause you to develop Costochondritis?
- Are you currently taking any prescription medications?
- In the past 2 years, have you been hospitalized for any reason?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
Now at this point…
We usually like to take a moment and remind folks that nobody here at IBUSA has any kind of “official” medical training and we’re certainly not doctors. All we are is a bunch of life insurance agents who just happen to be really good at helping folks with pre-existing medical conditions like this one, find and qualify for the life insurance coverage that they are looking for.
Not so great if you’re looking for answers to any specific medical questions. In cases like these, we would recommend that you contact a true medical professional who has the training to help. For everyone else, you’re in luck because now we’re going to get into some of the “nitty gritty” about what you may or may not be able to qualify for.
What rate (or price) can I qualify for?
Now as you can see, there are a lot of factors that can come into play when trying to determine what kind of “rate” an individual might be able to qualify for after having been diagnosed with Costochondritis, which is why it’s pretty much impossible to know for sure what kind of “rate” you might be able to qualify for without first speaking with you for a few minutes. After all, as of right now, we don’t even know “why” you’ve developed Costochondritis which is usually going to be the major factor in determining what kind of rate you will be able to qualify for.
That said however…
There are a few “assumptions” that we can make that will generally hold true about most folks who have been diagnosed with Costochondritis that may help you get a better idea about what kind of rate that you might be able to qualify for.
If your Costochondritis has been caused due to some kind of physical injury or muscle strain and not by some other “kind” of pre-existing medical condition, what you’re likely going to find is that most life insurance companies aren’t going to consider your Costochondritis a factor during the underwriting process. Which means that, whatever rate that you would have been able to qualify for PRIOR to being diagnosed with Costochondritis ought to be the same rate that you would be able to qualify for AFTER having been diagnosed with Costochondritis.
“Which is Great!”
This isn’t always the case for those who have developed Costochondritis as a symptom of some kind of “other” pre-existing medical condition. In cases like these, what we here at IBUSA will usually do is shift our attention away from your Costochondritis and instead spend more time on understanding why you have developed Costochondritis and how will this underlying medical condition be “viewed” by the life insurance industry!
The good news is…
That regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with all sorts of pre-existing medical conditions like yours and are committed to helping all of our clients find the “best” life insurance policy that they can qualify for. Which brings us to the last topic that we wanted to take a moment and discuss which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that usually the folks who seem to find the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
And seek out those life insurance agents who not only have experience working with individuals who have been diagnosed with a wide variety of pre-existing medical conditions, but also have access to dozens of different life insurance companies so that when it comes time to helping a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
The good news is that this is exactly what you’re going to find here at IBUSA so, if you ready to find out what we can do for you, just give us a call and let give us a chance to show you what we can do for you!