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Life Insurance with Osteoporosis.


Life Insurance with Osteoporosis.

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 with Osteoporosis.

Questions that will be addressed will include:

  • Can I qualify for life insurance if I have been diagnosed with Osteoporosis?
  • Why do life insurance companies care if I’ve been diagnosed with Osteoporosis?
  • 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 if I’ve been diagnosed with Osteoporosis?

Yes, individuals who have been diagnosed with Osteoporosis can and often will be able to qualify for a traditional term or whole life insurance policy.  In fact, some may even be able to qualify for some of the best no medical exam life insurance companies at a Preferred rate!

The problem is…

That in many cases, an individual who is suffering from Osteoporosis won’t know that they are until they suffer from some type of bone fracture.

Which means that in some cases this disease is able to do significant damage to one’s bones prior to being diagnosed which is why a life insurance company is going to want to learn more about an individuals Osteoporosis diagnosis prior to making any kind of decision about his or her life insurance application.

Why do life insurance companies care if I’ve been diagnosed with Osteoporosis?

The main reason why most of the best life insurance companies are going to “care” if someone has been diagnosed with Osteoporosis is because when left untreated or diagnosed late in the progression of this disease some people can suffer from some pretty significant complications as a result of suffering from Osteoporosis.

For this reason…

We wanted to take a moment and discuss exactly what Osteoporosis is as well as highlight some of the most common symptoms/complications that can occur form this disease so that we might have a better understanding of what a life insurance underwriter will be looking for when making his or her decision about your life insurance application.

Osteoporosis Definition:

Osteoporosis is a bone disease whereby the density and quality of one’s bones are reduced.  As a result, individuals suffering from Osteoporosis will have an increased risk of suffering from bone fractures.  The main problem with Osteoporosis is that most individuals won’t actually experience any symptoms of their disease until they actually fracture a bone.

Symptoms that will…

Commonly occur once an individual suffers from their first break may include:

  • Back pain caused by bond degradation within the spine,
  • Loss of height over time,
  • Stooped posture,
  • Additional bone fractures.

Serious complications may include:

  • Limited mobility leading to hospitalizations and or assisted living requirements,
  • Depression,
  • Debilitating pain.

Fortunately…

Because Osteoporosis is a very common disease, most general practitioners will advise their “aging” clients to be on the look out for it.  This combined with the fact that prevention and minimization of many of Osteoporosis’ most harmful effects often coincide with a healthy lifestyle many individuals are able to slow down the natural progress of this disease utilizing a combination of:

  • Certain medications,
  • A healthy diet,
  • And plenty of exercise.

Which is why, it’s not all that uncommon to see that many individuals who have been diagnosed with Osteoporosis will still be able to qualify for a Preferred rate.

“Which brings us to an important point that we think we ought to mention.”

First…

If you think you have a medical issue, don’t use the internet to try and 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 your own doctor could really cause great harm to yourself!

Second…

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 individual 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!

We’re just…

Trying to “prep” you for what it might be like to apply for a life insurance policy after you have been diagnosed with Osteoporosis… that’s it!  Which brings us to our next topic which 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 Osteoporosis?
  • Who diagnosed your Osteoporosis? A general practitioner or a specialist?
  • What symptoms (if any) led to your diagnosis?
  • Have you suffered from any falls or broken bones within the past 12 months?
  • Have you had a bone density test performed? If so, what were the results?
  • In the past 2 years, have you been admitted into 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?

What rate (or price) can I qualify for?

As you can see, there are a lot of variables that can come into play when trying to determine what kind of “rate” an individual who has been diagnosed with Osteoporosis.  This is why it’s pretty much impossible to know what kind of “rate” you might be able to qualify for without first speaking with you directly.

That said however…

Most individuals who have been diagnosed with Osteoporosis will usually fall into one of three different categories that we can make some “assumptions” about that will generally hold true.

Category #1.

Those who have been diagnosed with Osteoporosis early on by their general practitioner prior to bone fractures.  Individuals in this category generally won’t have any “symptoms” of their disease and won’t usually be discriminated against due to this “proactive” diagnosis made by their primary care physician.  In cases like these, what we usually find is that whatever rate these “types” of individuals would have been able to qualify for PRIOR to their Osteoporosis diagnosis ought to be the same “rate” that they will be able to qualify for AFTER having been diagnosed with Osteoporosis.

Category #2.

The second “type” of applicant that we’ll commonly see with Osteoporosis is those that may have suffered from a bone fracture or two but are now treating their condition and are generally still in good health.  These “types” of individuals will still be able to live a “normal” life, they’re just going to need to be a bit more careful.

Typically, what we’ll…

Find is with these “types” of applicants is that they may still be able to qualify for a Preferred rating however, they may be more likely to only be able to qualify for a Standard depending on the type of bone that was fractured and the degree of the fracture as well.

Category #3.

Lastly, we’ll often encounter some clients who seem to be suffering many of the more “severe” symptoms of Osteoporosis including severe pain and loss of mobility.  In cases like these, we’ll often find that most life insurance companies are going to automatically consider them “high risk” or “sub-standard” applicants which will make it more difficult for them to qualify for a traditional term or whole life insurance policy particularly if they have also been diagnosed with some other “type” of pre-existing medical condition as well.

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.  Which 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, what 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!

Now will we be able to help out everyone who has been previously diagnosed with Osteoporosis?

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 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!

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