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 prescribed Actonel or its generic form Risedronate to treat those suffering from Osteoporosis.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Actonel?
- Why do life insurance companies care if I’ve been prescribed Actonel?
- 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’s dive right in!
Can I qualify for life insurance after I’ve been prescribed Actonel?
As a general rule of thumb, simply having been prescribed Actonel should not have any impact on the outcome of one’s life insurance application. This is because unlike many other prescription medications, Actonel is really only used to treat Osteoporosis, which is a pre-existing medical condition which most (if not all) of the top life insurance companies will insure.
In fact, some may even be able to qualify for some of the best no medical exam life insurance companies at a Preferred rate!
Why do life insurance companies care if I’ve been prescribed Actonel?
Insurance companies “care” if you’re taking Actonel because it tells them that before moving forward with your application, they should ask you just a few questions about your Osteoporosis.
They can get a better understanding of how “severe” you Osteoporosis and confirm that your Osteoporosis is simply a natural part of aging and not the result of hypogonadism or gonadal failure.
A medical condition is characterized by the reduction or absence of hormone secretion from either the testes or ovaries, resulting in a variety of different symptoms, one of which is an increased risk of developing Osteoporosis.
In either case…
You ought to be able to qualify for a traditional life insurance policy; it’s just a matter of making sure that the insurance company has all the pertinent facts right away so that there won’t be a long delay during the underwriting process.
What kind of information will the insurance companies ask me or be interested in?
Insurance companies understand that Osteoporosis is a natural part of the aging process for most women, what they’re looking for when asking questions about “Your Osteoporosis” is if it is “deviating” from what might be considered the “Norm”.
To accomplish this, they’re likely to ask you questions such as:
- Have you “officially” been diagnosed with Osteoporosis? Or are you simply taking Actonel as a preventative step?
- How long have you been taking Actonel?
- Are you taking any other medications to help you treat/avoid Osteoporosis?
- Is your Osteoporosis considered a “normal” part of aging, or have you been diagnosed with hypogonadism?
- In the past 12 months, have any of your osteoporosis medications changed in any way?
- Have you been diagnosed with any other medical conditions which could be exacerbating your osteoporosis symptoms?
- Have you been prescribed any steroids or other medications that could be exacerbating or causing your osteoporosis symptoms?
- Have you suffered from any recent falls or bone fractures?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
What rate (or price) can I qualify for?
Now the good news is that when it comes to helping folks who have been diagnosed with Osteoporosis, for the most part, this diagnosis isn’t going to affect the outcome of their life insurance application provided that it is not causing them any “significant” difficulties.
This hold true…
For both those who’s Osteoporosis is simply a “normal” part of aging or those who have been diagnosed with hypogonadism.
Where we run into problems is when an individual is suffering from “significant difficulties” as a result of their Osteoporosis, in which case they may only be able to qualify for a Standard or Table rate which would be considered a “higher risk” applicant.
In either case…
The good news would be that you would still be eligible coverage only now; you’ll want to be more “selective” with which company you decide to apply with.
This is because…
Not ever life insurance company is automatically going to consider you the same “kind” of risk. This brings us to the final topic we wanted to discuss here in this article, 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 works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true-life insurance profession who will work as an advocate for you.
Such an agent…
Will not only help guide you through the application process but also be perfectly “frank” with you about what options may or may not be possible for you.
You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because after all, it really doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now, does it?
You’ll want to make sure that you’re completely honest with your life insurance agent prior to applying for coverage. By doing so, you will be helping him or her narrow down what options might be the “best”.
Now, will we be able to help out everyone who has been Actonel?
No, probably not. But what we can tell you is that in addition to offering a wide variety of different term and whole life insurance policies, IBUSA has also worked very hard to establish relationships with many of the Best Final Expense Insurance Companies as well so that if someone isn’t able to qualify for a traditional life insurance policy, chances are there may be some other “type” of product that you CAN qualify for.
So, if you’re ready to see what options might be available to you, just give us a call!