Life Insurance with Sarcoidosis.
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 Sarcoidosis.
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Sarcoidosis?
- Why do life insurance companies care if I’ve been diagnosed with Sarcoidosis?
- 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 Sarcoidosis?
Yes, individuals who have been diagnosed with Sarcoidosis 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 a Preferred rate!
The problem is…
That while some individuals may be able to qualify for a Preferred rate, others may find themselves being denied coverage entirely due to some unfortunate complication arising from this inflammatory disease. This is why, prior to being approved for a traditional life insurance policy one should expect to be asked quite a few questions about their Sarcoidosis in addition to possibly having to submit one’s medical records as well.
Why do life insurance companies care if I’ve been diagnosed with Sarcoidosis?
What you’re generally going to find is that most (if not all) life insurance companies aren’t really going to care about whether or not an individual has been previously diagnosed with Sarcoidosis provided that they aren’t currently treating their condition or they haven’t developed and significant complications from their original attack.
This is why…
We wanted to take a moment and discuss exactly what Sarcoidosis is and 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. By doing so we should also gain a better understanding of what type of “rate” you may or may not be able to qualify for.
Sarcoidosis is an inflammatory disease that causes one to develop abnormal masses or nodules (referred to as granulomas) which can appear in a variety of different organs in the body but will mostly appare in the lungs and/or lymph glands. Symptoms of Sarcoidosis will generally depend on what organs are affected.
Common symptoms may include:
- Tender bumps or patches on the skin,
- Bloodshot eyes,
- Blurred vision,
- Swollen and painful joints,
- Swollen lymph nodes in the neck, armpit and/or groin,
- Hoarse or raspy voice.
Serious complications may include:
- Lung infections including Pneumonia,
- Eye disorders including cataracts and glaucoma,
- Kidney failure,
- Facial paralysis,
Sarcoidosis is a condition that can be treated with corticosteroids usually prednisone or prednisolone. In most cases, this will relieve ones’ symptoms within a few months, however some folks may find that they will need to take these medications for a longer period of time.
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 where you first diagnosed with Sarcoidosis?
- Who diagnosed your Sarcoidosis? A general practitioner or a specialist?
- What symptoms led to your diagnosis?
- What “organs” seem to be affected by your Sarcoidosis?
- Have you been diagnosed with any other pre-existing medical conditions?
- Are you currently taking any prescription medications right now?
- In the past 2 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 a lot of variables that can come into play when trying to determine what kind of “rate” an individual who has been diagnosed with Sarcoidosis. 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 Sarcoidosis will usually fall into one of three categories that we can make some “assumptions” about that will generally hold true.
The first group of folks that we’ll encounter that have been diagnosed with Sarcoidosis will be those who have just recently been diagnosed or are in the middle of their treatment. In cases like these, what you’ll typically find is that most life insurance companies will either want to POSTPONE one’s life insurance application until they have made a full recovery or they may decide to approve one’s application at a rate lower than they probably would be able to qualify for had they waited until they had made a full recovery.
In cases like these…
If a client doesn’t have any life insurance in place, we’ll typically recommend that they take the policy being offered to them for the shortest period of time available, and then simply “re-apply” for coverage once their Sarcoidosis has healed. Now, we’ll be the first to admit that this may seem like a huge pain, but since none of us know which day will be our last day on this planet, taking this approach is that safest way to ensure that your loved ones would be protected.
This group will consist of those who have been diagnosed with Sarcoidosis, made a full recovery, and did not suffer from any significant complications from their disease. In cases like these, what you’re generally going to find is that most life insurance companies aren’t going to discriminate against you for your previous Sarcoidosis diagnosis.
Which means that…
Whatever “rate” you may have been able to have qualify for PRIOR to being diagnosed with Sarcoidosis will probably be the same rate that you’ll be able to qualify for AFTER being diagnosed with Sarcoidosis. This is how some folks will still be able to qualify for a Preferred rate despite having been previously diagnosed with Sarcoidosis.
The last group that we’ll commonly encounter when trying to help someone that has been diagnosed with Sarcoidosis will be those who have recovered, however they either have some other “type” or pre-existing medical condition or did develop some “kind” of serious complication as a result of their Sarcoidosis which may potentially affect the outcome of their life insurance application.
In cases like these…
Some individuals will still be able to qualify for a traditional life insurance policy however, it’s pretty safe to say that they’re probably not going to be able to qualify for a Preferred rate. In fact, they’re probably going to have to qualify for a “high risk” or Table rate somewhere between a A-C.
Are life insurance rates that are typically reserved for “higher risk” applicants and range from Table A, which would be considered the “best” or least expensive table rate, all the way to Table J which would be considered the “worst” or most expensive table rate.
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 so, if you ready to find out what we can do for you, just give us a call and let give us a chance to show you what we can do for you!