Life Insurance for Combivent 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 Combivent or its generic form which consists of a combination of two different medications Ipratropium Bromide and Albuterol to help those treat their Chronic Obstructive Pulmonary Disease (COPD).
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Combivent?
- Why do life insurance companies care if I’ve been prescribed Combivent?
- 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 Combivent?
Yes, individuals who have been prescribed Combivent in the past can and often will be able to qualify for a traditional term or whole life insurance policy. The only problem is that they probably won’t be able to qualify for a Standard or better rate which means that they will typically be considered a “higher-risk” applicant and will thus want to be more careful with “which” life insurance company they ultimately choose to apply with.
Why do life insurance companies care if I’ve been prescribed Combivent?
Life insurance companies “care” that an individual has been prescribed Combivent because it is a prescription medication that is solely used to treat Chronic Obstructive Pulmonary Disease or COPD. Which is a pre-existing medical condition that is used to describe a wide variety of different progressive lung diseases including:
- Chronic bronchitis,
- And refractory (non-reversible) asthma.
Three totally separate medical conditions which will cause one to suffer from many of the same symptoms all of which will make most (if not all) life insurance companies a bit hesitant about approving one’s life insurance application.
This is why…
What you’re probably going to find is that prior to being approved for coverage, most (if not all) life insurance underwriters are going to want to ask you a series of question about your Combivent prescription and about the underlying pre-existing medical condition it is being used to treat prior to them ultimately making a decision about the outcome of your life insurance application.
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 prescribed Combivent?
- Who prescribed your Combivent? A general practitioner or a specialist?
- What symptoms were you suffering that led you to believe you might need to take Combivent?
- Are you taking any other prescription medications to help you deal with your underlying medical condition?
- Have any of your medications changed in the last 12 months?
- Have you been given a specific diagnosis or have you just been diagnosed with COPD?
- Do you know what may have caused your COPD?
- Have you ever used any tobacco or nicotine products?
- Within the past 12 months, have you used any tobacco or nicotine products?
- What is your current height and weight?
- Have you ever had any pulmonary function tests including a Spirometry performed?
- If so, what were the results?
- Are you currently working now?
- In the last 12 months, have you applied for or received any form of disability benefits?
What rate (or price) can I qualify for?
Now as you can see, there are going to be a lot of factors that will come into play with regards to what kind of “rate” one will be able to qualify for after having been prescribed Combivent or having been diagnosed with COPD.
This is why…
It’s pretty difficult to give someone a “concrete” idea of what kind of rate they will be able to qualify for without knowing the specifics of their case. What we can say however is that after being diagnosed with COPD, most (if not all) applicants will be considered a “higher-risk” applicants simply due to the degenerative nature of this disease.
Which means that…
You’ll probably only be eligible for a “Table rate”. Table rates are rates that are reserved for individuals who are considered a “higher-risk” and range from Table A to Table J. Table A rates are considered the “best” and will have the lowest price tag associated with them while Table J will be considered the “worst” and will be the most expensive.
The trick will then be…
To find a life insurance company that will not only have the “Best” pricing for their table rates but also be the most “lenient” when it comes to who the will and won’t approve at the higher (more affordable) table rates.
“So, are you confused yet?”
We’ll if so, don’t fret because this isn’t something that you’re really going to need to worry about provided that you choose to apply for life insurance with a company like IBUSA because this is what we specialize at.
Which brings us to the last topic that we wanted to discuss with you 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!