Life Insurance for Tegretol 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 Tegretol or its generic form Carbamazepine to treat certain types of seizure disorders, bipolar disorder, restless leg syndrome and symptoms of pain that can be associated with diabetes or other medical issues. Tegretol can also be used to help relieve anxiety in individuals suffering from benzodiazepine addiction (as a way to minimize one’s withdrawal symptoms).
Questions that will be directly addressed will include:
- Can I qualify for life insurance after I’ve been prescribed Tegretol?
- Why do life insurance companies care if I’ve been prescribed Tegretol?
- 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’s dive right in!
Can I qualify for life insurance after I’ve been prescribed Tegretol?
Now let us start off by saying that nothing in this world would make us happier here at IBUSA than to be able to answer this question with a simple “yes” or “no” response, but the problem is, Tegretol is one of “those kinds” of medications where doing so simply isn’t possible.
Tegretol is used to treat a wide variety of seizure conditions some of which may be much more serious than others. This is why, most (if not all) traditional term or whole life insurance companies are going to want to ask you a few additional questions about your Tegretol prescription prior to making any kind of definitive decision about your life insurance application.
Why do life insurance companies care if I’ve been prescribed Tegretol?
Without going too far out on a limb, it should be pretty obvious to most that if you’ve been prescribed Tegretol because it helps alleviate some of the anxiety you’re feeling while going through benzodiazepine withdrawals its fair to assume that you’re going to have a pretty hard time qualifying for a traditional term or whole life insurance policy.
If you’re simply using your Tegretol prescription to help you minimize the discomfort you experience as a result of your restless leg syndrome, chances are you’ll be able to qualify for a traditional life insurance policy, heck you may even be able to qualify for a preferred rate. And the same goes for folks using their Tegretol to help them treat certain “types” of seizures.
This is why…
Insurance companies are interested in the fact that you have been prescribed Tegretol, but what really interests them more is “why” have you been prescribed Tegretol. Which leads us to the next segment where we discuss what are some of the most common questions you’ll likely encounter once an insurance company realizes you have been prescribed Tegretol in the past.
What kind of information will the insurance companies ask me or be interested in?
The kind of information that an insurance company is going to want to know about is going to vary based on what pre-existing medical condition that your using your Tegretol to treat. For this reason, let’s now take a look at each pre-existing medical condition separately.
Common questions you’ll likely be asked if you have been diagnosed with a seizure disorder:
- At what age where you when you suffered from your first seizure?
- What “kind” of seizures do you typically suffer from?
- How often do you suffer from seizures?
- When was the last time you had a seizure?
- How many seizures have you had in the past 12 months?
- Is Tegretol the only medication that you’re using to treat your seizures?
- In the past 12 months, has your Tegretol prescription changed in any way?
- Have you ever been hospitalized due to a seizure?
- Do you currently have a valid and active driver’s license?
- Are you currently working now?
- The past 12 months have you applied for or received any form of disability benefits?
Common questions you’ll likely be asked if you have been diagnosed with restless leg syndrome:
- When were you first diagnosed with restless leg syndrome?
- Do you suffer from any other sleep disorders?
- Are you taking any other prescription medications to help you treat your restless leg syndrome?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
Now for those…
Who are using Tegretol to help them manage anxiety symptoms they may be suffering as a result of withdrawal there really isn’t all that much that an insurance company is going to need to ask because simply going through withdrawal will be enough to disqualify you from being able to qualify for a traditional term or whole life insurance policy. That said however, if this currently describes your situation, we should point out that you may be able to qualify for a guaranteed issue life insurance policy immediately and/or an accidental death policy.
Assuming that your current addiction “issues” are all that are keeping you from being able to qualify for a traditional life insurance policy, we should point out that depending on the “kind” of drug you are currently struggling with, it may be possible to one day qualify for a traditional life insurance policy provide that you remain drug free for a set period of time.
For those using Tegretol to help manage nerve pain, we would encourage you to simply give us a call because focusing on all of the pre-existing medical conditions that could be encompassed under this “umbrella” of uses simply exceeds the scope of this article.
What rate (or price) can I qualify for?
When it comes to what price one can qualify for, it’s really all going to come down to “why” you’ve been prescribed Tegretol and how well is it helping you manage your symptoms.
For those suffering from seizures…
The general rule of thumb is that in “theory” you still ought to be able to qualify for a Preferred or Preferred Plus rate class when applying provided that you haven’t suffered from a seizure within the past 12 months and that you haven’t applied for or received any form of disability benefits within the past 12 months either.
That is not the case, what we generally like to aim for is a Standard rate, however this will all depend on the severity of your case, which will likely be determined by:
- The number of seizures you have suffered from within the past 12 months.
- Any hospitalizations that may have been required as a result of your seizures.
- And whether or not your currently receiving disability benefit.
As for those using…
Their Tegretol to treat restless leg syndrome, what you’ll usually find is that this will not play a major role (if any) in the outcome of your life insurance application provided that you’re not suffering from any “major” affects from this disorder which would prevent your from living an otherwise “normal” life.
Lastly for those…
Using Tegretol to treat pain associated with some type of nerve pain, we would simply advise you to give us a call here at IBUSA so that we can learn more about what is causing your pain and advise from there. Which brings us to our 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, what we have found that works best for folks who have been diagnosed with a pre-existing medical condition which its “severity” 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” for you as well as helping him or her determine “which” life insurance company will most likely provide you with the best opportunity for success!
The good news…
Is that this approach to finding the “best” life insurance policy that you can qualify for is exactly how we like to operate here at IBUSA! So, if you’re ready to get started, feel free to give us a call and let us show you what we can do for you!