Life Insurance for Fosamax 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 Alendronic acid or one of the common brand names of this medication including:
- Fosamax Plus D.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Fosamax?
- Why do life insurance companies care if I’ve been prescribed Fosamax?
- 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 Fosamax?
Because Alendronic acid is a prescription medication that is primarily used to treat those diagnosed with either osteoporosis or Paget’s disease (two different medical conditions which are usually both insurable), what you’re generally going to find is that while you may be asked some additional questions about “why” you have been prescribed Fosamax, it’s prescription alone should automatically prevent you from being able to qualify for coverage.
Some may even be able to qualify for some of the best no medical exam life insurance companies at a Preferred rate! Which then begs the question…
Why do life insurance companies care if I’ve been prescribed Fosamax?
The only reason why most top-rated life insurance companies are going to “care” about the fact that you have been prescribed Fosamax is because they’re going to want to make sure it’s not being used to help combat any type of serious pre-existing medical condition.
Fosamax can be used to help minimize or prevent bone loss caused by a wide variety of reasons, including the following:
- Normal aging,
- Steroid use,
- Or gonadal failure.
And while normal aging and/or menopause won’t alarm a life insurance underwriter, use of steroid medications to treat some other pre-existing medical condition or gonadal failure at an early age might!
This is why…
Before being approved for coverage, most (if not all) life insurance companies are going to want to ask you a few additional questions before making any definitive decisions about 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 questions such as:
- Why have you been prescribed Alendronate?
- How old were you when you were first prescribed Alendronate?
- Are you currently taking any other prescription medications?
- Have you ever been prescribed steroids?
- Have you been diagnosed with any other pre-existing medical conditions?
- Who first prescribed your Alendronic acid?
- Have you experienced any symptoms attributable to having decreased bone mass?
- Have you suffered from any bone fractures within the past 2 years?
- Have you suffered from any recent falls lately?
- 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?
In general, what you’re typically going to find is that provided that you’re using your Fosamax prescription as a way of combatting bone loss due to a “natural” cause such as aging, most (if not all) life insurance companies are still going to consider you eligible for a Preferred rate.
This holds true…
For those suffering from Paget’s disease and for those suffering from gonadal failure as well (provided that there isn’t a serious underlying medical cause for the gonadal failure). We can sometimes run into trouble when an individual is prescribed Fosamax as a way of combating bone loss, which is a direct result of steroid use.
In cases like these…
What we have found is the most commonly the underlying “cause” for why an individual has been prescribed steroids will typically become the most important deciding factor in what “rate” an individual will be able to qualify for.
The good news is…
That we here at IBUSA have plenty of experience helping folks with all sorts of pre-existing medical conditions so, if this describes your situation, don’t fret! We can help.
Which brings us to the last topic 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 seems to work the “best” for helping folks find the best life insurance policy that they can qualify for is to…
Fully understand what the client is hoping to achieve by purchasing their life insurance policy.
Make sure that we here at IBUSA have plenty of options for them to choose from so that neither they nor we have to rely on just one or two different options.
Now, will we be able to help out everyone who has been prescribed Fosamax?
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!