Life Insurance with Polycythemia.

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 with Polycythemia.

Questions that will be addressed will include:

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

Yes, individuals who have been diagnosed with Polycythemia can and often will be able to qualify for a traditional term or whole life insurance policy.

The problem is…

That prior to being approved f a traditional life insurance policy, most (if not all) life insurance companies are going to want to know more about “why” you suffer from Polycythemia and how “serious” your condition is before making any decisions about your application.

It’s also why…

You may want to consider avoiding applying for a no medical exam term life insurance policy as well, seeing how these policies tend to be more difficult to qualify for after someone has been diagnosed with a pre-existing medical condition like Polycythemia.

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

There are two main reasons why a life insurance company is going to “care” if you have been diagnosed with Polycythemia. The first reason is that many of the reasons “why” an individual would be diagnosed with this condition can be quite serious, and once one begins producing an excessive number of red blood cells, the consequences can also be quite serious.

This is why…

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

Polycythemia Defined:

Polycythemia is a disease that is characterized by an increase in the size or mass of a red cell, which can be determined by the amount of hemoglobin and hematocrit in the blood as well as the actual numbers of erythrocytes (RBC’s) circulating in ones’ blood as well.

When speaking of…

Polycythemia, doctors, and researchers will often refer Polycythemia as either Primary Polycythemia when the cause is related to an inherited genetic mutation, or Secondary Polycythemia when caused by any number of factors including:

• Chronic hypoxia,
• Erythropoietin releasing tumors,
• Bone marrow disorders,
• Etc…

Symptoms of Polycythemia may include:

• Fatigue,
• Headaches,
• Excessive sweating,
• Itching (after exposure to warm water),
• Blurred vision or blind spots,
• Bone pain,
• Excessive or unexplained bleeding from gums or small cuts,
• Pain or numbness in hands or feet.

Serious complications may include:

• Increased risk of blood clots,
• Enlarged spleen (splenomegaly),
• A variety of other blood disorders.

Treatment options…

Will typically focus on what is causing one to develop Polycythemia as well as attempt to remove or decrease the number of red blood cells that are being produced. Options may include:

• Phlebotomy or blood draw,
• Low-dose aspirin regiment,
• Medications to reduce the number of blood cells in ones’ body.

Now at this point…

We usually like to take a moment and remind folks that nobody here at IBUSA has any “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.

But…

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 first diagnosed with Polycythemia?
• Who diagnosed your Polycythemia? A general practitioner or a specialist?
• What symptoms led to your diagnosis?
• Do you still suffer from any symptoms of your disease now?
• Do you know “why” you suffer from Polycythemia?
• Have you been diagnosed with any other pre-existing medical conditions?
• Over the past 12 months, have you noticed any changes with your Polycythemia?
• In the past two 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?

What rate (or price) can I qualify for?

As you can see, there are many variables that can come into play when trying to determine what kind of “rate” an individual diagnosed with Polycythemia. This is why it’s almost impossible to know what kind of “rate” you might qualify for without first speaking with you directly.

That said, however…

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

Category #1.

The first group of folks you’re going to have is those who have been diagnosed with Polycythemia absent any serious pre-existing medical condition such as cancer and are maintaining their condition well. In cases like these, you’ll likely find that most will be able to qualify for a traditional life insurance policy, albeit at a “sub-standard” or “high risk” rate.

Category #2.

The second group of individuals we’re going to encounter will be those who have been diagnosed with Polycythemia, and either doesn’t currently have their condition well under control or are suffering from Polycythemia as a result of some type of “serious” pre-existing medical condition like cancer which will likely keep them from being able to qualify for a traditional life insurance policy. 

In cases like these, what you’ll likely find is that most (if not all) life insurance companies are either going to deny one’s traditional life insurance policy or POSTPONE one’s application until they may be eligible for coverage. Here at IBUSA, we’ll often encourage clients in this position to consider purchasing a Guaranteed Issue Life Insurance policy if still interested in gaining some life insurance coverage.

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, 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!