Life Insurance with Cirrhosis of the Liver.
In this article, we wanted to take a moment to answer some of the most common questions we get from folks applying for life insurance after being diagnosed with Cirrhosis of the liver.
Questions that will be directly answered will include:
- Can I qualify for life insurance if I have been diagnosed with Cirrhosis of the liver?
- Why do life insurance companies care if I have been diagnosed with Cirrhosis of the liver?
- 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 Cirrhosis of the liver?
Yes and no. We say this because, for the most part, any individual who has been diagnosed with Cirrhosis will not be able to qualify for a traditional life insurance policy or any type of no medical exam term life insurance policy as well.
Which means that…
If an individual who has been diagnosed with Cirrhosis still wishes to purchase a life insurance policy, they will need to pursue some kind of “alternative” product such as a guaranteed issue life insurance policy (AKA Final Expense Insurance) or an accidental death policy.
Or at least…
This is how it’s been in the past. We say this because relatively recently, there have been a couple of life insurance companies who may be willing to offer an individual a “low limit” term life insurance policy should an individual be able to meet their application requirements.
Why do life insurance companies care if I have been diagnosed with Cirrhosis of the liver?
There are several reasons why a life insurance company might “care” if an individual has been diagnosed with Cirrhosis of the liver. The first and most important reason is that when diagnosed properly, it describes a late-stage scarring or fibrosis of the liver with a very poor 5-year survival rate. Particularly in cases where the “scarring” is caused by excessive alcohol consumption!
This is why…
Once a life insurance company has learned that you have been diagnosed with Cirrhosis, they may choose to ask a series of medical questions designed to learn just how “serious” your condition is and what percentage of your liver may still be functioning normally.
What kind of information will the insurance companies ask me or be interested in?
- When were your first diagnosed with Cirrhosis of the liver?
- Who diagnosed your Cirrhosis of the liver? A general practitioner or a specialist?
- What tests were performed to “reach” your diagnosis?
- What symptoms have you experienced (if any) which may have led to your diagnosis?
- Jaundice or yellowing of the skin?
- Unexplained loss of appetite,
- What treatment options have you pursed to minimize the effects of your condition?
- Have you been diagnosed with any other pre-existing medical conditions?
- Do you suffer from or have you ever suffered from alcoholism?
- In the past 12 months, have you consumed any alcohol?
- In the past two years, have you been admitted into a hospital for any reason?
- Do you have any issues with your driving record? Issues such as multiple moving violations, a DUI, or a suspended license?
- Have you ever been convicted of a felony or misdemeanor?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
“Which brings us to an important point that we think we ought to mention.”
If you think you have a medical issue, don’t use the internet to diagnose yourself. After all, if you do and your correct, you’re still going to need to see the doctor, and if you’re wrong, the time you spend being you’re on doctor could really cause great harm to yourself!
Nobody here at IBUSA is medically trained, and we’re certainly not doctors. All we ware is a bunch of life insurance agents who just happened to be really good at helping individuals find and qualify for the life insurance that they’re looking for. So please don’t mistake any of the medical information that we talk about as medical advice because it’s not!
Trying to “prep” you for what it might be like to apply for a life insurance policy after you have been diagnosed with Cirrhosis… that’s it! This brings us to our next topic, which is…
What “rate” can I qualify for?
Now historically, had you asked us what kind of “rate” an individual might be able to qualify for after having been diagnosed with Cirrhosis, we would have told you.
“That’s an easy question to answer because people with Cirrhosis can’t qualify for any rate!”
But now that it…
Appears that there are a couple of different life insurance companies who at least on “paper” claim that they will be willing to approve certain individual a low limit term life insurance policy, things have become quite a bit more complicated when it comes time to helping someone who has been diagnosed with Cirrhosis of the liver.
This is why…
We try and keep things a bit “vague” when talking about what someone may or may not be able to qualify for because now we may have a few more options than we did just a few months ago.
That said, however, what we can say for sure is that anyone who has been diagnosed with Cirrhosis is only going to be able to qualify for a “high-risk” classification at best. Even then, their chances are probably going to be very slim!
The good news is…
That regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with all sorts of pre-existing medical conditions like yours and are committed to helping all of our clients find the “best” life insurance policy that they can qualify for. This brings us to the last 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, we have found that usually, the folks who seem to find the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
And seek out those life insurance agents who not only have experience working with individuals who have been diagnosed with a wide variety of pre-existing medical conditions but also have access to dozens of different life insurance companies so that when it comes time to helping a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
The good news is that this is exactly what you’re going to find here at IBUSA!