Life Insurance for Arthrotec users.
In this article, we wanted to take a moment to answer some of the most common questions we get from folks applying for life insurance after they have been prescribed Arthrotec or its generic form Diclofenac/misoprostol to treat both osteoarthritis and rheumatoid arthritis.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Arthrotec?
- Why do life insurance companies care if I’ve been prescribed Arthrotec?
- 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 Arthrotec?
Short answer: Yes.
Long answer: It depends.
Because Arthrotec is a prescription medication that is used to treat both osteoarthritis and rheumatoid arthritis, understanding “why” an individual has been prescribed Arthrotec and how “serious” that condition is will be essential in determining whether or not an individual will be able to qualify for a traditional term or whole life insurance policy.
The good news is…
That unlike many other prescription medications out there, Arthrotec is NOT a medication that will automatically cause an insurance underwriter to deny your life insurance application. It’s just going to make him or her want to ask you a few questions before moving forward with the underwriting process.
Why do life insurance companies care if I’ve been prescribed Arthrotec?
The main reason why most of the best life insurance companies are going to “care” if an individual has been prescribed Arthrotec is because arthritis can become a debilitating disease for some individuals, particularly for those who have rheumatoid arthritis.
Because Arthrotec is often prescribed to individuals who may at an increased risk for developing stomach ulcers, knowing that you have been prescribed this medication will let a life insurance underwriter know that they should ask whether or not you have suffered from ulcers in the past.
Now, this won’t necessarily affect the outcome of your life insurance application. However, if you are currently in the process of treating an ulcer, an insurance company may want to “postpone” your application until your “flare-up” has resolved itself completely.
Like many other medications, Arthrotec can have some pretty dangerous side effects when combined with alcohol. Hence, it’s quite possible that an insurance underwriter will want to make sure that any applicant that has been prescribed Arthrotec isn’t also exhibiting any “signs” that they may also be suffering from alcohol abuse.
This is why…
Before making any decision about your life insurance application, it’s quite possible that you may be asked some additional questions about your arthritis and also about your Arthrotec prescription.
What kind of information will the insurance companies ask me or be interested in?
Questions an insurance underwriter will likely ask you once they have determined that you have been prescribed Arthrotec may include questions such as?
- How old are you currently?
- When is your birthday?
- Why have you been prescribed Arthrotec?
- Have you been diagnosed with Osteoarthritis or Rheumatoid arthritis?
- When were you given this diagnosis?
- If diagnosed with rheumatoid arthritis:
- Is this the only NSAIDS medication that you’re taking?
- Have you ever been prescribed Methotrexate or Prednisone?
- Have you ever suffered from or currently treating any ulcers?
- Do you have any history of drug or alcohol abuse?
- Do you have any issues with your driver’s license? Issues such as multiple moving violations, DUI(s), or a suspended license?
- 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?
When you look at most of the underwriting guidelines when it comes to determining what kind of “rate” an individual who has been prescribed Arthrotec can qualify for, what you’ll usually find is that it all comes down to what “kind” of arthritis an individual has been diagnosed with and how “severe” that arthritis is.
That said, however…
There are some “assumptions” that one can make that will generally be “somewhat accurate,” which we’ll now dive into so that you can have a general idea of what they will and won’t be able to qualify for.
For those who have been diagnosed with osteoarthritis, and aren’t experiencing any “debilitating” pain, chances are you will still be considered eligible for a Preferred rate assuming that you would otherwise be eligible.
As for those…
Who have been diagnosed rheumatoid arthritis, which isn’t something that one would consider a “normal” part of aging, what you’re generally going to find is that qualifying for a traditional term or whole life insurance policy is going to be a little bit “tougher” than it would be had you not been diagnosed with such a condition.
Depending on how serious your condition is, it’s quite possible that you may not be able to qualify for a traditional term or whole life insurance policy at all! Factors that will come into play will certainly be the fact that you have been prescribed an NSAIDS medication like Arthrotec, as well as whether or not you’ve been prescribed Methotrexate and/or Prednisone.
In cases like these…
Most folks will still be considered “eligible” only now they will certainly be considered a “higher risk” applicant, in which case they will most likely only be able to earn a Table Rate or a Substandard risk at best.
And this is only…
In cases where an individual has not applied for or received any disability benefits, in which case it may prove impossible to qualify for a traditional term or whole life insurance policy at the present time.
This brings us to the next topic that we wanted to discuss 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 professional 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 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 before 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 prescribed Arthrotec?
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.
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!