Life Insurance for Androgel users.
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 Androgel or its generic form Testosterone to help folks who have been diagnosed with decreased testosterone levels.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Androgel?
- Why do life insurance companies care if I’ve been prescribed Androgel?
- 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 prescribed Androgel?
In most cases, have been prescribed Androgel isn’t going to play a role in the outcome of your life insurance application, or in other words, if you’re healthy enough to qualify for a traditional term or whole life insurance policy, having been prescribed Androgel in the past isn’t going to change that!
This is because…
Unlike many other prescription medications that can be used to treat a wide variety of medical conditions, Androgel is really only used for one reason which is to help supplement one’s natural levels of testosterone to a normal level.
Which leads us to our next question which is…
Why do life insurance companies care if I’ve been prescribed Androgel?
While it’s true that most life insurance companies aren’t all that concerned with the fact that an individual has been prescribed Androgel, they can become concerned however, it it’s prescription is being used to help mitigate symptoms associated with a more serious medical condition which could be causing one to need to receive testosterone supplements.
Androgel typically isn’t a medication that is prescribed to individuals suffering from a normal, age related decrease in testosterone levels. Instead, Androgel is usually prescribed to someone that has been diagnosed with hypogonadism or to someone who may be experiencing a decrease in their testosterone levels as a result of some type of medication that they are taking (i.e. chemotherapy) or problems with their pituitary gland.
This is why…
We say that in “most cases” having been prescribed Androgel isn’t going to be an issue when applying for a traditional term or whole life insurance policy, but sometimes it can. And because it can sometimes become “quite and issue” what you’re going to typically find is that prior to being approved for a traditional term or whole life insurance policy, most (if not all) life insurance underwriters are going to want as a few questions prior to making any kind of decision about your life insurance application.
What kind of information will the insurance companies ask me or be interested in?
The main things that an insurance company is going to be interested in when it comes to one’s Androgel prescription is…
“Why have you been prescribed Androgel?”
“Is there some kind of underlying medical condition that they should be worried about?”
You’re either going to be told that your Androgel prescription isn’t going to play a role in the outcome of your life insurance application or you’re going to be inundated with a series of questions all designed to learn more about the underlying cause that prompted your doctor to prescribe your Androgel in which case, all bet’s are off as to whether or not you’re going to be able to qualify for a traditional term or whole life insurance policy.
What rate (or price) can I qualify for?
As a general rule of thumb, provided that you haven’t been diagnosed with some type of serious medical condition which has caused your testosterone levels to drop below normal, what we here at IBUSA have found is that most Androgel recipients can and often will be able to qualify for a Preferred or Preferred Plus rate provided that they would otherwise be able to qualify for such a rate.
Now as for…
Those who have been prescribed Androgel as a way to treat a low testosterone symptom caused by some larger more serious medical condition, that underlying pre-existing medical condition will mostly be the most important determining factor affecting the outcome of your life insurance application.
Which brings us to the next section that 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”
So, what are you waiting for? Give us a call today and see what we can do for you!