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 Propecia, Proscar or its generic form Finasteride to help treat those suffering from benign prostatic hyperplasia (an enlarged prostate) and/or hair loss.
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Propecia?
- Why do life insurance companies care if I’ve been prescribed Propecia?
- 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 Propecia?
Yes, individuals who have been prescribed Propecia 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 Plus rate! That said however, prior to being able to be approved for such a rate, most (if not all) life insurance companies are going to want to ask an applicant a series questions about their Propecia prescription so that they can fully understand why it has been prescribed.
Why do life insurance companies care if I’ve been prescribed Propecia?
Life insurance companies aren’t all that interested in the fact that an individual has been prescribed Propecia beyond the fact that because it is used to help treat those who have been diagnosed with benign prostatic hyperplasia because most (if not all) life insurance underwriters will want to make sure that there isn’t any possibility that an individual may also be suffering from prostate cancer.
This is why…
Even though Propecia is not a medication that is going to necessarily going to have an effect on the outcome of an individual’s life insurance application, it will be something that will likely be asked about during a traditional or simplified issue life insurance policy.
What kind of information will the insurance companies ask me or be interested in?
Common questions you’ll be asked about your Propecia prescription will likely include:
- When where you first prescribed Propecia?
- Who prescribed your Propecia? A general practitioner or a specialist?
- Why have you been prescribed Propecia?
- Was it to help treat hair loss?
- Was it to help treat an enlarged prostate?
- If so, have you had a PSA test performed? If so, what was the score?
- Have you been diagnosed with any serious pre-existing medical conditions?
- Are you currently taking any other prescription medications?
- 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?
If one is simply using their Propecia to treat hair loss or an enlarged prostate and there isn’t any sign of an individual also suffering from prostate cancer, what you’re going to find is that having been prescribed Propecia isn’t going to affect the outcome of one’s life insurance application.
Or to put it another way…
The “rate” that an individual would have been able to qualify for PRIOR to having been prescribed Propecia should be the same rate that an individual would be able to qualify for AFTER having been prescribed Propecia.
“Which is a good thing!”
But don’t let the fact that having been prescribe Propecia isn’t going to effect the outcome of your life insurance application lead you to believe that there aren’t a whole lot of other factors that could potentially affect the “rate” that you might be able to qualify for.
Factors such as your:
- Family medical history,
- Driving record,
- Travel plans,
- Etc, etc…
Which is why we wanted to take a moment and discuss what you yourself can do to help you find the “best” life insurance policy that you can qualify for.
What can I do to help ensure that I get the “best life insurance” for me?
Because life insurance companies tend to use a lot of “random” factors in determining who the will and won’t insure, and at what price, we here at IBUSA have found that the “best” way for us to be able to ensure that our clients are able to find the “best” life insurance policy that they can qualify for is to be sure to know our STUFF and offer a TON of options.
By only employing true life insurance professionals who have tons of experience helping folks with all sorts of pre-existing medical conditions and then providing them with tons of options to offer their clients, we here at IBUSA truly do offer a one stop shop for folks looking to protect their family.
Which is why…
Our advice to anyone looking to purchase a life insurance policy is to be sure that the insurance agent that they choose to work with is truly an expert and that he or she has dozens of options for you to consider, because even if they are the greatest life insurance agent in the world, if they don’t have access to the “best” life insurance policy for you what good is that going to do you?
What are you waiting for? Give us a call today and let us earn the right to protect your family today!