Life Insurance for EpiPen 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 an EpiPen or its generic form Epinephrine/Adrenaline to help treat a number of conditions including severe asthma attacks and/or allergic reactions including anaphylaxis shock.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Epipen?
- Why do life insurance companies care if I’ve been prescribed Epipen?
- 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 EpiPen?
Yes, individuals can and often will be able to qualify for a traditional term or whole life insurance policy after having been prescribed an Epipen. In fact, some may even be able to qualify for a Preferred rate.
The problem is…
That because having an Epipen is such a useful tool or medication to have in the case of an emergency, some folks will often choose to “err on the side of caution” and ask to be prescribed one for a “just in case emergency”.
We here at IBUSA would certainly never suggest that someone NOT do this if it’s medically advisable. It’s just important to understand that at the beginning of one’s life insurance application, an insurance underwriter isn’t going to know the difference between someone who has been prescribed an Epipen because they are prone to suffer from some serious allergies vs. someone who might just be being extra cautions.
Which is why…
You may want to consider avoiding applying for a no medical exam term life insurance policy as well, seeing how these policies tend to be more difficult to qualify for after someone has been diagnosed with a pre-existing medical condition like Asthma, which may warrant the need for an EpiPen prescription.
Why do life insurance companies care if I’ve been prescribed EpiPen?
What you’re generally going to find is that most of the top-rated life insurance companies are going to “care” if an individual has been prescribed an Epipen because this is a very specific mediation that is designed to be used in emergencies to treat very serious allergic reactions. So serious that they could, in fact, become “life-threatening” without prompt medical attention which would often include using an Epipen to help improve one’s:
- Impaired breathing,
- Elevated heart rate,
- Dropping blood pressure rate,
As well as reduce any swelling which might occur in the face, lips and/or throat.
Symptoms which can…
Be quite serious for some. This is why, once a life insurance underwriter learns that you have been prescribed an EpiPen in the past, most (if not all) life insurance companies are going to want to ask you a series of questions about your prescription and the pre-existing medical condition which it is being used treat prior to them making any kind of definitive 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 about your Epipen prescription may include:
- When were you first prescribed an EpiPen?
- Who prescribed your Epipen?
- Why have you been prescribed an EpiPen?
- How often if ever have you had to use your EpiPen?
- Are you taking any other prescription medications designed to help you treat the underlying pre-existing medical condition which has caused you t be prescribed an EpiPen?
- Have you ever had to go to the hospital as a result of your pre-existing medical condition, which caused you to be prescribed an EpiPen?
- Have any of your prescription medications changed in the past 12 months?
- When was the last time you had an allergic reaction or asthma attack?
- In the past 12 months, how many allergic reactions or asthma attacks have you suffered from?
- Do you know what specifically causes you to suffer from an allergic attack or asthma attack?
- 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?
What we have found is that when it comes to determining what kind of “rate” an individual can qualify for after having been prescribed an Epipen, the prescription by itself doesn’t seem to have too much of an effect on the outcome of one’s life insurance policy. Rather it’s how often it is being used and refilled.
If you suffer from allergies or Asthma which have the “potential” to cause you to suffer from a serious reaction, NOT having a prescription for an EpiPen would be a much more serious risk to yourself and the life insurance company than choosing to have a prescription for an Epipen and simply never ultimately need to use it.
This is something that the life insurance companies seem to understand which is why having been prescribed an EpiPen in the past will certainly attract the attention of a life insurance underwriter, it’s not going to “automatically” prevent you from being able to qualify for a certain “rate” or a “Preferred” rate which most folks are looking to receive.
What might prevent you…
From being able to qualify for “Preferred” rate is if you have:
- Suffered from multiple attacks (Asthma or allergic) within the past 12 months.
- Had to go to the hospital as a result of an asthma or allergy attack.
- Qualified for disability benefits as a result of your pre-existing condition.
Or if your condition is “deemed” serious by the reviewing life insurance underwriter. Which we’ll admit seems a bit arbitrary, but we’re just the messenger here, not the one’s making the decisions. Which is also why we wanted to take a moment and discuss…
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 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 prescribed an EpiPen?
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.
In the event that 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!