Life Insurance for Plavix 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 Plavix (or its generic form Clopidogrel) in an effort to prevent one from suffering from a stroke, heart attack or other health issues related to the heart including peripheral vascular disease.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Plavix?
- Why do life insurance companies care if I’ve been prescribed Plavix?
- 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 Plavix?
Yes, individuals who have been prescribed Plavix in the past can and often will be able to qualify for a traditional term or whole life insurance policy. In fact, they may even be able to qualify for a Preferred rate! The only problem is that because Plavix can be prescribed to treat such a wide range of pre-existing medical conditions it becomes impossible to know for sure what rate one can qualify for without knowing a lot more about “why” you have been prescribed Plavix.
Why do life insurance companies care if I’ve been prescribed Plavix?
Life insurance companies “care” about whether or not an individual has been prescribed Plavix. Typically, this medication is primarily used to help folks who have already been diagnosed with some kind of cardiovascular disease. And it should go without saying that life insurance companies tend to get a “bit” nervous when it comes time to approving one’s application if they have previously been diagnosed with heart disease.
Having said that, we should point out that individuals who have suffered from a heart attack or stroke in the past can and often will be able to qualify for a traditional term or whole life insurance policy only now they will need to demonstrate that their health has improved and that they no longer suffer from any “serious” lingering effects as a result of these health issues.
Sometimes, individuals may be prescribed Plavix as a “preventative” medication in an effort to help a “high-risk” individual from ever suffering from a heart attack or a stroke. Now these individuals may be high-risk because of their current health, or they could be considered high-risk because of their family history, in either case, it will be important to discuss this with their insurance agent/underwriter so that it is clear to both of them that you haven’t actually suffered from a heart attack or stroke in the past!
These and many other reasons…
Are why a life insurance underwriter will likely want to ask you a series of medical questions about your Plavix prescription prior to moving forward with processing your application so that they can get a better idea about whether or not you would be eligible for coverage and if so, what “rate” you would be able to qualify for.
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 your first prescribed Plavix?
- Who prescribed your Plavix? A general practitioner or a cardiologist?
- Have you ever suffered from a heart attack or stroke?
- If so, when?
- Have you ever been diagnosed with a blood clot?
- If so, when?
- Has any of your immediate family members (mother, father, brother, or sister) suffered from a heart attack or stroke before the age of 65?
- What are your current height and weight?
- Is Plavix the only prescription medication that you’re currently taking now?
- In the past 12 months, have any of your prescription medications changed in any way?
- 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?
Now because Plavix can be used as a “preventative” medication to help an individual avoid one day from suffering from a heart attack or stroke, there will be those who may have been diagnosed with deep vein thrombosis or a blood clot and still be able to qualify for a Preferred rate.
That said, however…
In our experience here at IBUSA, the vast majority of individuals who have been prescribed Plavix in the past were prescribed it because they have suffered from or are currently suffering from some pretty serious health issues. Which isn’t to say that they won’t be able to qualify for a traditional life insurance policy, it’s only that they probably won’t be able to qualify for a Preferred rate any longer.
“But who cares?”
The truth is, the vast majority of individuals out there that have never been prescribed Plavix in the past and have never been diagnosed with any “kind” of pre-existing medical condition won’t be able to qualify for a Preferred rate either!
This is because…
When it comes time to qualify for a traditional term or whole life insurance policy, there are a lot of factors that will come into play. Many of them will obviously be related to one’s health, but many of those factors won’t have anything to do with one’s health. Factors such as one’s:
- Driving record,
- Travel plans,
- Etc, etc…
This brings us to the last topic that we wanted to take a moment and 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 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 Plavix?
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!