Life Insurance for Coreg CR 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 Coreg Cr or its generic form Carvedilol to help treat their hypertension (elevated blood pressure) as well as help those suffering from heart failure. Coreg has also been shown to be helpful in reducing the risk of death immediately following a heart attack.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Coreg?
- Why do life insurance companies care if I’ve been prescribed Coreg?
- 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 Coreg?
Yes, individuals who have been prescribed Coreg can and often will be able to qualify for a traditional term or whole life insurance policy. In fact, in some cases, they may even be able to qualify for a Preferred rate.
The only problem is…
That because Coreg is used to treat a wide variety of different pre-existing medical conditions some of which are quite serious, it’s also true that a lot of folks who have been prescribed Coreg may not be able to qualify for coverage. Or at the very least may have to wait a while before then can one day become eligible.
Why do life insurance companies care if I’ve been prescribed Coreg?
If Coreg were only used to help folks lower their blood pressure and not also commonly prescribed to folks suffering from heart failure or recovering from a heart attack, one could reasonably assume that most life insurance companies wouldn’t be all that concerned about the fact that someone may have been prescribed Coreg in the past or is currently taking Coreg now.
Because Coreg is commonly used to help folks suffering from heart failure, and because Coreg is also very helpful at increasing the survival rate for those having just had a hear attack, you can be sure that most (if not all) life insurance companies are going to want to know more about “why” you’ve been prescribed Coreg prior to them making any kind of 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 once a life insurance underwriter learns that you’ve been prescribed Coreg in the past will likely look something like the following:
- Why have you been prescribed Coreg?
- Who prescribed your Coreg? A general practitioner or a cardiologist?
- Have you ever suffered from a heart attack?
- Have you been diagnosed with Heart Failure?
- Are you taking any other prescription medications?
- Is your Coreg prescription helping you manage your pre-existing medical condition?
- In the past 12 months, have any of your prescription medications changed at all?
- What is your current height and weight?
- In the past 12 months, have you used any tobacco or nicotine products?
- 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?
Probably the best way for us to try and shed some light on what kind of “rate” an individual who has been prescribed Coreg can qualify for is to address each of the different reasons why someone might “be prescribed” Coreg in the first place. This way we can address how each of these situations will be “viewed” by a life insurance underwriter separately.
Coreg to treat hypertension:
If you have simply been prescribed Coreg as a way to treat your elevated blood pressure and have not been diagnosed with heart failure and have not suffered from a heart attack at any point in your life, in theory you should be considered eligible for a Preferred rate assuming that you would otherwise be able to qualify for such a rate.
We’re also going to…
Assume that your Coreg is working to help you maintain a healthy blood pressure level and that you’ve been taking your Coreg for at least 6 months so that we can provide a life insurance underwriter with a few month’s “proof” that your blood pressure is not under control.
Coreg to treat heart failure:
Individuals who have been prescribed Coreg to help them treat their heart failure diagnosis simply won’t be able to qualify for a traditional term or whole life insurance policy. Instead, these individuals will need to seek an “alternative” product which won’t require one to have to “medically qualify” for coverage.
Two such options…
Would be either a guaranteed issue life insurance policy or an accidental death policy. Both of which do have their merits, but we here at IBUSA would advise against buying either until you’ve reached out to an agent who is open to discussing the disadvantages of each of these policies prior to you purchasing one.
Or in other words…
We would recommend that you give us a call before you decide to purchase either one of these “types” of products because making you aware of all of your options, both good and bad is what we here at IBUSA are all about.
Coreg immediately following a heart attack or Myocardial Infraction (MI):
If you were prescribed Coreg immediately after suffering from a heart attack, you may still be able to qualify for a traditional term or whole life insurance policy provided that you’re heart attack occurred after age 40 and you made a complete recovery and aren’t currently suffering from any lingering effects.
We should not that most (if not all) life insurance companies will like to see a few months of separation between the time that you suffered from your heart attack and your application date however you might be surprised to learn just how “forgiving” many life insurance companies will be to those applying for life insurance after suffering from a heart attack.
You will still be considered a “higher-risk” applicant but given the alternative of simply being denied coverage entirely, we here at IBUSA think this is a pretty fair trade off.
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 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!