Life Insurance with Peripheral Vascular Disease (PVD).
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 Peripheral Vascular Disease (PVD).
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Peripheral Vascular Disease?
- Why do life insurance companies care if I’ve been diagnosed with Peripheral Vascular Disease?
- 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 Peripheral Vascular Disease?
Yes, individuals who have been diagnose with Peripheral Vascular Disease can and often will be able to qualify for a traditional term or whole life insurance policy. The only problem is that symptoms of this disease can vary significantly from one patient to the next which is why just “knowing” that someone has been diagnosed with PVD isn’t going to be enough information to know whether or not someone will be able to qualify for a traditional life insurance policy.
Why do life insurance companies care if I’ve been diagnosed with Peripheral Vascular Disease?
The main reason why a life insurance company is going to “care” if an individual has been diagnosed with Peripheral Vascular Disease is because at the end of the day, Peripheral Vascular Disease is cause by peripheral artery disease which is caused by atherosclerosis.
For this reason…
We wanted to take a moment and just briefly discuss exactly what Peripheral Vascular Disease is as well as highlight some of the most common symptoms/complications so that we can gain a better understanding of what a life insurance underwriter will be looking for when making his or her decision about your life insurance application.
Peripheral Vascular Disease Defined:
Peripheral Vascular Disease is a disease that occurs when blood flow to one’s arms, legs or other body parts becomes restricted as a result of narrowing, blockage or spams of the veins or arteries supplying these body parts.
The most common cause…
Of Peripheral Vascular Disease is due to atherosclerosis which is a separate disease that is characterized by the deposition of fatty plaques along the inner walls of one’s arteries. Complications associated with atherosclerosis may include an increased risk of:
- Kidney disease,
- Heart disease,
- Heart attack and/or heart failure.
Common symptoms of Peripheral Vascular Disease may include:
- Hair loos on one’s lower extremities,
- Intermittent claudication,
- Leg weakness,
- Numbness in the legs,
- Brittle or fragile toe nails.
Serious complications of Peripheral Vascular Disease may include:
- Severe pain,
- Wounds that won’t heal,
- Increased risk of infections,
- Tissue death, potentially requiring limb amputation,
Peripheral Vascular Disease is a condition that can often be treated and/or improved by several methods including assuming a healthy diet, moderate exercise and the cessation of any tobacco or nicotine use (if applicable). Medications as well as certain surgical procedures can also help in some cases as well.
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 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 diagnosed with Peripheral Vascular Disease?
- Who diagnosed your Peripheral Vascular Disease? A general practitioner or a specialist?
- What symptoms (if any) led to your diagnosis?
- Have you been diagnosed with any other pre-existing medical conditions?
- Have you been diagnosed with heart disease or diabetes?
- Have you ever suffered from a heart attack or a stroke?
- What is your current height and weight?
- Are you currently taking any prescription medications right now?
- In the past 12 months, have you used any tobacco or nicotine products?
- 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 Peripheral Vascular Disease. 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 bene diagnosed with Peripheral Vascular Disease will usually fall into one of four different categories that we can make some “assumptions” about that will generally hold true.
Individuals in this first category that we want to discuss will be those who have been diagnosed with Peripheral Vascular Disease absent any other “serious” pre-existing medical conditions. Individuals that fall into this category will still be considered a “high risk” but will usually be able to qualify for a traditional term or whole life insurance policy usually at a Table A to D rate.
Individuals in this category will be those who have been diagnosed with Peripheral Vascular disease along with some other “kind” of serious pre-existing medical condition. In most cases like these, what you’re generally going to find is that most life insurance companies are going to treat one’s PVD as a symptom of this other disorder which will ultimately be the determinate regarding what “kind” of life insurance policy an individual will be able to qualify for.
The next two categories…
Will be reserved for those who are currently using some form of tobacco or nicotine or have quite some form of tobacco or nicotine less than 1 year ago.
Will be reserved for those who have been diagnosed with Peripheral Vascular Disease absent any “other” pre-existing medical condition while currently using some “type” of tobacco or nicotine products. These “types” of individuals will theoretically still be eligible for a traditional term or whole life insurance policy like their “non-smoking” equivalents only in their case they will most likely need to pay 3 to 4 times more for their coverage!
The last group of individuals that we’ll encounter will be those who have been diagnosed with Peripheral Vascular Disease, in addition to some other “type” of pre-existing medical condition, while simultaneously using some form of tobacco or nicotine. In cases like these, what you’re likely going to fine is that if an individual is able to qualify for a traditional term or whole life insurance policy, chances are it’s going to be VERY expensive.
For this reason…
So, folks may elect to pursue a Guaranteed Issue Life Insurance policy instead or wait until they have been tobacco free for a minimum of one year so that they can qualify for a lower rate. The danger there is that during this time they won’t have any insurance in place (assuming that they don’t have any life insurance in place elsewhere).
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!