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 Pulmonary Hypertension.

Questions that will be directly addressed will include:

• Can I qualify for life insurance if I have been diagnosed with Pulmonary Hypertension?
• Why do life insurance companies care if I have been diagnosed with Pulmonary Hypertension?
• What kind of information will the insurance companies ask me or be interested in?
• What options might be available to me?
• How can I help ensure 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 Pulmonary Hypertension?

Unfortunately, when it comes to those who have been diagnosed with Pulmonary Hypertension, what you’re generally going to find is that most (if not all) of the top life insurance companies are going to “automatically” decline anyone applying for a traditional term or whole life insurance policy.

Which means that…

Suppose you have been diagnosed with Pulmonary Hypertension, and you still want to purchase a life insurance policy. In that case, chances are you will need to consider purchasing an “alternative” product that won’t require one to meet certain “health” requirements to qualify for coverage.

Why do life insurance companies care if I have been diagnosed with Pulmonary Hypertension?

The main reason why a life insurance company is going to “care” if you have been diagnosed with Pulmonary Hypertension is a severe disease that can cause some pretty significant complications, particularly if left untreated or improperly treated.

This is why…

We want to take a moment and just briefly describe what Pulmonary Hypertension is as well as highlight some of the most common symptoms/complications so that we can gain a better idea of just exactly why most (if not all) life insurance companies are going to immediately deny anyone applying for a “traditional” life insurance policy.

Pulmonary Hypertension Defined:

Pulmonary Hypertension is a “type” of high blood pressure considered a chronic and progressive disease that specifically targets the arteries in your lungs and the right side of your heart. If left untreated, Pulmonary Hypertension can often become fatal within a few years.

Symptoms may include:

• Shortness of breath,
• Fatigue,
• Syncope or fainting spells,
• Chest pain and/or pressure,

Serious complications may include:

• Edema,
• Ascites,
• Cor pulmonale, or right-sided heart enlargement,
• Blood clots,
• Arrhythmia,
• Increased risk of heart attack and/or strokes,
• Heart failure.

Common causes may include:

• Exposure to certain medications or drugs,
• Diseases such as:
  • Scleroderma,
  • Dermatomyositis,
  • Systemic Lupus.
• Infections such as:
  • HIV,
  • Schistosomiasis,
• Liver disease,
• Congenital heart defects,
• Chronic Obstructive Lung Disease (COPD),
• Etc…

Unfortunately…

There is no cure for Pulmonary Hypertension. However, with proper care and management, improving some of the symptoms commonly associated with it may be possible and slow the progression of the disease.

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

First…

If you have a medical issue, don’t use the internet to diagnose yourself. After all, if you do and you’re correct, you’ll still need to see the doctor, and if you’re wrong, the time you spend being your doctor could harm yourself!

Second…

Nobody here at IBUSA is medically trained; we’re certainly not doctors. We are all a bunch of life insurance agents who just happened to be good at helping individuals find and qualify for the life insurance they’re looking for. So please don’t mistake any of the medical information we discuss 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 Pulmonary Hypertension… that’s it! This brings us to our next topic, which is…

What kind of information will the insurance companies ask me or be interested in?

You’ll generally find that once a life insurance company determines that you’ve been diagnosed with Pulmonary Hypertension, there isn’t much more they need to know before denying your life insurance application. After all, if you have been diagnosed with this condition, it’s not going to matter all that much “why” you developed this condition.

This is mainly because most life insurance agencies will usually be “geared” towards helping those who can qualify for a traditional term life insurance policy and won’t spend too much time focusing on smaller “alternative” products.

The good news is…

Here at IBUSA, we spend an incredible amount of time creating relationships with dozens of different life insurance companies to minimize the number of times we have to apologize to a client for not having any options they will be able to qualify for.

So…

While other agencies may inform you that you can’t qualify for a life insurance policy because of your Pulmonary Hypertension diagnosis, we prefer to ask you three simple questions that could determine whether you might be eligible for a guaranteed-issue life insurance policy.

Those three questions are:

#1. Are you a US Citizen?

#2. Are you between the ages of 40 and 85?

#3. What state do you live in?

What options might be available to me?

Now, at this point, it’s important not to get too excited because while it is true that some folks may be able to qualify for a guaranteed-issue life Insurance policy or maybe even an Accidental Death Policy, it’s important to understand that just because you “can” qualify may not mean that you’ll “want” to qualify.

The reason for this…

This is because while these “types” of products may meet the needs of some, they will have some severe disadvantages that may be a “deal-breaker” for some. This is why, after reading what we’re about to discuss, we would invite you to give us then a call or visit one of our other articles that will go into greater detail about these “alternative products” so that you’ll know what you are “getting” should you decide to purchase one of these “types” of products ultimately.

Accidental Death and Guaranteed Issue Life Insurance Policies Defined

Accidental Death Policies

Here at IBUSA, we think that Accidental Death Policies are a bit easier to understand than guaranteed-issue life Insurance Policies when appropriately explained. This is why we want to begin by discussing what an Accidental Death Policy is.

The problem is…

Often, these “types” of products aren’t fully explained or, more commonly, aren’t presented in a way that specifically points out what these policies won’t provide coverage for. This is why we here at IBUSA want to begin our discussion of an Accidental Death Policy by explicitly stating that these “types” of policies are NOT TRUE LIFE INSURANCE POLICIES.

Now, at this point…

You may be asking yourself…

“What do you mean by NATURAL CAUSE of death?”

When we use the term “natural cause of death,” we’re referring to an “illness-based” death like you would experience as a result of:

• Heart disease,
• Cancer,
• Stroke,

Or from some complications that one might experience as a result of suffering from Pulmonary Hypertension.

These types of products…

You are only going to provide a death benefit to your family if you die from an accidental cause or any cause of death that isn’t “illness-based.” Examples that would typically qualify as an Accidental Cause of death would typically include:

• A motor vehicle accident,
• A slip-and-fall accident
• A natural disaster,
• Victim of crime,
• Etc…

Which is nice…

But typically, this isn’t what someone is looking for after they have been diagnosed with Portal Hypertension. On the plus side, these “types” of products are generally pretty affordable. They will allow someone to purchase a large amount of ACCIDENT insurance for a relatively small amount. This brings us to our next possible option, which is a…

Guaranteed Issue Life Insurance

On the other hand, a Guaranteed Issue Life Insurance policy is A TRUE LIFE INSURANCE PRODUCT. This means you need to be a licensed life insurance agent to sell them, and “ultimately,” they will provide individual true-life insurance coverage. Now we say “ultimately” because when you purchase a Guaranteed Issue Life Insurance Policy, you’re buying a life insurance policy that has a “catch” to it. 

And…

In our experience here at IBUSA, we’ve found that the best way to discuss these types of life insurance policies is by analyzing the three significant disadvantages that these “types” of life insurance policies have aside from the fact that you generally have to be over the age of 50 and live in a state where these “types” of life insurance policies are available.

So, let’s dive right in…

Problem #1.

Guaranteed-issue life insurance policies provide a limited amount of coverage and usually “cap out” around 25,000 dollars in coverage. If you want to purchase more than 25,000 dollars in coverage, a guaranteed-issue life insurance policy might not suit you!

(Yes, individuals can purchase several different guaranteed issue life insurance policies from several companies, but as we will now discuss, this can get expensive).

Problem #2.

Dollar-for-dollar, guaranteed-issue life insurance policies aren’t always the most affordable compared to other “types” of insurance policies. Now, we don’t want to imply that these “types” of life insurance policies are going to cost a fortune; it’s just that if you can qualify for another “kind” of life insurance policy, that coverage will usually cost less dollar for dollar than a guaranteed-issue life insurance policy will.

Problem #3.

Guaranteed-issue life insurance policies contain a clause commonly called a Graded Death Benefit.

Graded Death Benefit Defined:

Graded Death Benefits are “clauses” written into most (if not all) guaranteed-issue life insurance policies. They state that a policy won’t begin to cover an individual from “natural causes” of death until a certain waiting period has elapsed. This “waiting period” will usually last 2 to 3 years and is designed to ensure that someone who knows they are very close to death can use these “types” of life insurance policies.

And while…

This may seem highly unfair; it’s important to remember that a guaranteed life insurance policy doesn’t require you to take a medical exam or answer any health-related questions. So, a graded death benefit is the only thing that allows an insurance company to offer one of these “types” of life insurance policies.

The good news is…

While you may have to wait 2 to 3 years for a guaranteed-issued life Insurance policy to provide you true life insurance protection, these “types” of life insurance policies will provide immediate coverage for any “accidental causes” of death. They may also provide some “return of premium” to the beneficiaries of any insured who do end up dying from natural causes before their Graded Death Benefit expires. It’s like buying a small Accidental Death Policy that will ultimately “turn into” a true-life insurance policy after some time.

So, have we confused you yet?

If so, don’t fret. W. The purpose of this article wasn’t to try to make you an insurance expert; it was to give you an idea of what questions you’ll want to pursue before making any decisions. This brings us to our last topic, which we wanted to discuss here in this article:

How can I help ensure I get the “best life insurance” for me?

In our experience here at IBUSA, what works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true life insurance professional who will work as an advocate for them. Such an agent will guide you through the application process and be perfectly “frank” with you about what options may or may not be possible.

From there…

You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because, after all, it doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now, does it?

Lastly, before applying for coverage, it would be best to be completely honest with your life insurance agent. By doing so, you will help them narrow down what options might be the “best. “

So, what are you waiting for? Give us a call today and see what we can do for you!