Life Insurance with Christmas Disease.
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 then have been diagnosed with Christmas Disease also called Factor IX Deficiency or Hemophilia B.
Questions we will be addressing will include:
- Can I qualify for life insurance if I have been diagnosed with Christmas Disease, Factor IX Deficiency or Hemophilia B?
- Why do life insurance companies care if I have been diagnosed with Christmas Disease, Factor IX Deficiency or Hemophilia B?
- What kind of information will the insurance companies ask me or be interested in?
- What “rate” 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 if I have been diagnosed with Christmas Disease, Factor IX Deficiency or Hemophilia B?
Yes, individuals who have been diagnosed with Christmas Disease, Factor IX Deficiency or Hemophilia B can and often will be able to qualify for a traditional term or whole life insurance policy.
The only problem is…
That most folks who are going to be able to qualify for a traditional life insurance policy won’t be able to qualify for Standard or better rate which means that they will most likely be considered a “high-risk” applicant.
Why do life insurance companies care if I have been diagnosed with Christmas Disease, Factor IX Deficiency or Hemophilia B?
Probably the best way to fully understand why a life insurance company is going to “care” if you have been diagnosed with Christmas disease is by briefly taking a look at exactly what Christmas disease is as well as taking a look at what some of the symptoms of the disease are.
Christmas Disease Defined:
The first thing an individual is going to want to know about Christmas Disease is that it can be called several different names including:
- Hemophilia B,
- Factor IX Deficiency,
- And Factor IX Hemophilia,
Regardless of what “name” is being used, the condition is defined as a genetic disorder in which one’s blood is not able to clot properly. This is because individuals who are born with this disease either don’t produce enough “factor IX” or don’t produce any at all.
As a result…
Individuals with this disease will be susceptible to prolonged bleeding after a cut or spontaneous bleeding without the ability to stop it! Fortunately, Christmas Disease can be treated by the administration of Factor IX which has either been produced artificially or extracted through donated blood.
The only problem is…
That when Christmas Disease is not treated “properly”, or when Factor IX is not available this disease can sometimes become fatal which is just another reason why most life insurance companies will consider someone who has been diagnosed with Christmas Disease a “higher risk”. It’s also “why” most life insurance companies will want to ask a series of medical questions about your condition prior to approving your life insurance application so that they can get a better idea about how “serious” your condition is.
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 you first diagnosed with Christmas Disease (if you know)?
- Who diagnosed your Christmas Disease? A general practitioner or a pediatrician?
- What symptoms led to your diagnosis?
- How “severe” is your Christmas Disease?
- Does your body produce any “Factor IX”?
- How are you treating your Christmas Disease?
- In the past 2 years have you been admitted to a hospital for any reason?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
Now at this point…
We usually like to take a moment and remind folks that nobody here at IBUSA has any kind of “official” medical training and we’re certainly not doctors. All we are is a bunch of life insurance agents who just happen to be really good at helping folks with pre-existing medical conditions like this one, find and qualify for the life insurance coverage that they are looking for.
Not so great if you’re looking for answers to any specific medical questions. In cases like these, we would recommend that you contact a true medical professional who has the training to help. For everyone else, you’re in luck because now we’re going to get into some of the “nitty gritty” about what you may or may not be able to qualify for.
What “rate” can I qualify for?
As you can see from above, there are a lot of “factors” that can come into play when trying to determine what kind of “rate” an individual might be able to qualify for. And, this list of questions that we provided above are just a “few” that are going to specifically relate to the fact that you’ve been diagnosed with Christmas Disease. There will also be a whole “bunch” of additional questions that an insurance underwriter is also going to want to ask which will be similar to questions everyone gets asked such as:
- How old are you?
- What is your current height and weight?
- Do you use any kind of tobacco products?
- Have you been diagnosed with any other pre-existing medical conditions?
- Do you have a family history of heart disease or cancer?
For this reason, it’s pretty much impossible for us to know for sure what kind of “rate” you might be able to qualify for without first speaking with you directly.
That said however…
There are a few “assumptions” that we can make that will generally hold true. The first of these assumptions is that you’re probably not going to be able to qualify for a “standard or better” rate. Which means that you’ll most likely be considered a “higher-risk” applicant. Which is why, we here at IBUSA will want to focus our search for which life insurance company is going to be the “best” for you on those companies that have better “pricing” at these “higher-risk” categories.
Which bring us to the next topic that we wanted to take a moment and discuss 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 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”
So, what are you waiting for? Give us a call today and see what we can do for you!
Now will we be able to help out everyone who has been previously diagnosed with Christmas Disease?
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 Burial Life Insurance Companies as well so that 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!