Life Insurance with Psoriasis.
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 Psoriasis.
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Psoriasis?
- Why do life insurance companies care if I’ve been diagnosed with Psoriasis?
- 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 Psoriasis?
Yes, individuals who have been diagnosed with Psoriasis 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, unlike many other “skin” conditions, Psoriasis has been linked to some pretty serious complications which are why a lot of the best life insurance companies (in our humble opinion) will want to know more about your Psoriasis prior to making any kind of definitive decisions about the outcome of your life insurance application.
Why do life insurance companies care if I’ve been diagnosed with Psoriasis?
Most life insurance companies aren’t going to be all that worried about the fact that an individual has been diagnosed with Psoriasis once they are able to determine that your Psoriasis hasn’t also caused you to begin showing symptoms of any number of other pre-existing medical conditions which will definitely affect the outcome of your life insurance application.
For this reason…
We wanted to take a moment and discuss exactly what Psoriasis is as well as highlight some of the most common symptoms/complications of this disease 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.
Psoriasis is a fairly common chronic skin disorder that occurs when the normal life cycle of a skin cell becomes “accelerated.” As a result, skin cells will begin to build up rapidly on the surface of the skin. These “extra” layers of the skin will then go on to form scales and/or red patches that are often itchy and sometimes painful.
Common symptoms may include:
- Inflamed patches of skin,
- White scales or plaques located within red patches,
- Itching and/or burning on and around patches,
- Thick, pitted nails,
- Swollen and painful joints.
Serious Complications may include:
- Psoriatic arthritis,
- Certain eye disorders,
- Type 2 diabetes,
- Cardiovascular disease,
- Certain Autoimmune diseases,
- Parkinson’s disease,
- And Kidney disease.
One of the main…
Problems with Psoriasis is that nobody is quite certain what causes one to develop Psoriasis. This is why it’s not known “why” some folks may develop one of these more “severe” complications after developing Psoriasis while others won’t. Currently, the theory that seems to have the most support right now is that it appears to be some “type” of autoimmune disease that causes one’s T cells and other blood cells called neutrophils to begin attacking one’s healthy skin cells.
Factors that can exacerbate ones Psoriasis may include:
- Family medical history,
- Exposure to certain viral and/or bacterial infections particularly HIV,
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.
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 Psoriasis?
- Who diagnosed your Psoriasis? A general practitioner or a specialist?
- What symptoms led to your diagnosis?
- Have you developed any serious complications as a result of your Psoriasis?
- Have you been diagnosed with any other pre-existing medical conditions?
- Are you currently taking any prescription medications right now?
- Does anyone else in your immediate family (mother, father, brother, or sister) also suffer from Psoriasis?
- Has any of your immediate family members ever been diagnosed with cancer, heart disease, or diabetes?
- Have any of them ever suffered from a heart attack or stroke?
- What are your current height and weight?
- In the past 12 months, have you used any tobacco or nicotine products?
- In the past two years, have you been hospitalized 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 Psoriasis. 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 Psoriasis will usually fall into one of two different categories that we can make some “assumptions” about that will generally hold true.
The first group of folks that we’ll most likely encounter will be those who have been diagnosed with Psoriasis and haven’t yet developed (or show signs of developing) any significant complications due to their condition. In cases like these, what we’ll typically find is that most life insurance companies are going to spend too much time “dwelling” on the fact that you’ve been diagnosed with Psoriasis which is why many individuals in this category will have a “reasonable” chance at qualifying for a Standard or better rate (which would include Preferred).
The second group of folks that we’ll encounter will be those who have been diagnosed with Psoriasis and have either been diagnosed with some other “type” of pre-existing medical condition or show signs that they may one day down the line develop some type of “serious” pre-existing medical condition related to their Psoriasis.
In cases like these…
What we’ll likely find is that when an individual has not actually been “officially” diagnosed with some other “type” of pre-existing condition, they will still be considered eligible for coverage, only now they’ll most likely only be able to qualify for a Standard or lower rate.
Now, as for those…
Who have been diagnosed with some other “type” of pre-existing medical condition in addition to their Psoriasis, what we’ll typically find is that this “other” pre-existing medical condition will often be the major determinant in knowing what kind of “rate” you may be able to qualify for.
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!
Now, will we be able to help out everyone who has been previously diagnosed with Psoriasis?
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 if 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!