Life Insurance with Spina Bifida.
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 Spina bifida.
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with Spina Bifida?
- Why do life insurance companies care if I’ve been diagnosed with Spina Bifida?
- 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 Spina Bifida?
Yes, individuals who have been diagnosed with Spina Bifida can and often will be able to qualify for a traditional term or whole life insurance.
The only problem is..
That while a lot of folks with Spina Bifida will be able to qualify for a traditional life insurance policy, many others won’t and will be forced to seek out an “alternative” product such as a Guaranteed Issue Life Insurance Policy if they still want to be able to purchase a life insurance policy. The trick then becomes understanding which clients will and won’t be able to qualify for a traditional policy and knowing when to seek out those “alternative” products.
Why do life insurance companies care if I’ve been diagnosed with Spina Bifida?
The main reason why most top-rated life insurance companies are going to “care” if you have been diagnosed with Spina Bifida is that even in the most “mild” of cases, this disease has the ability to cause folks who suffer from it to develop a wide range of complications some of which can be quite significant.
This is why…
We wanted to take a moment and discuss what Spina bifida is as well as highlight some of the most common symptoms/complications of the disease so that we can gain a better understanding of a life insurance underwriter will and won’t be looking for when making his or her decision about your life insurance application.
Spina Bifida Defined:
Spina Bifida is a congenital birth defect that occurs when one’s spine and spinal cord don’t form properly, which is why Spina Bifida is commonly classified as just one of several different types of neural tube defects that one can suffer from.
Symptom at birth may include:
- Weak or paralyzed legs,
- Urinary incontinence,
- Characteristic brown spots on one’s skin,
- Bowel incontinence,
- Reduced skin sensation,
- Increased cerebrospinal fluid (CSF) which may progress to hydrocephalus and possible brain damage.
Serious complications may include:
- Permanent paralysis of one’s legs,
- Increased risk of urinary tract infections (UTI’s),
- Kidney disease,
- Kidney failure.
There currently isn’t a cure for Spina Bifida however, there are a variety of different treatments available to help someone with this disease to help manage and perhaps prevent some of the most troublesome complications. This is why it’s important to maintain regular checkups with your primary care physician so that he or she can help you create a treatment program specifically designed for you so that you can life a long and healthy life.
“Which brings us to an important point that we think we ought to mention.”
If you think you have a medical issue, don’t use the internet to diagnose yourself. After all, if you do and you’re correct, you’re still going to need to see the doctor, and if you’re wrong, the time you spend being your own doctor could really harm yourself!
Nobody here at IBUSA is medically trained, and we’re certainly not doctors. All we are is a bunch of life insurance agents who just happened to be really good at helping individuals find and qualify for the life insurance that they’re looking for. So please don’t mistake any of the medical information that we talk about as medical advice because it’s not!
Trying to “prep” you for what it might be like to apply for a life insurance policy after you have been diagnosed with Spina Bifida… 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?
Common questions you’ll likely be asked may include:
- How old are you now?
- What symptoms do you suffer from as a result of your Spina Bifida?
- Over the past 12 months, have any of those symptoms worsened?
- Are you currently confined to a wheelchair?
- In the past two years, have you been admitted into a hospital for any reason?
- Have you been diagnosed with any other pre-existing medical conditions?
- Have you ever suffered for a heart attack or stroke?
- Do you have any issues with your drivers’ license? Issues such as multiple moving violations, a DUI, or a suspended license?
- In the past 12 months, have you used any tobacco or nicotine products?
- Are you currently working?
- 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 Spina Bifida. 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 Spina Bifida will usually fall into one of two different categories that we can make some “assumptions” about that will generally hold true.
Will consist of those who have been diagnosed with Spina Bifida but seem to be able to live a “normal’ life aside from the obvious challenges that this disease is going to present someone with. Individuals like these will typically be able to care for themselves, maintain an active social life, and usually maintain full-time employment or own their own business.
These will be the “types” of folks who will be able to frequently qualify for a traditional life insurance policy, albeit at a “high risk” or “sub-standard” table rate usually ranging somewhere around a table A-D.
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 second group of folks that we’ll commonly encounter will be those that probably won’t be able to qualify for a traditional life insurance policy. These individuals will likely suffer from more severe disabilities as a result of their disease and will most likely not be able to live on their own, work a full-time job or perhaps suffer from some other “type” of pre-existing medical condition, which is further complicating their situation.
In cases like these…
What you’re generally going to find is that these folks will need to seek out an “alternative” product that won’t require one to have to be able to “medically” qualify for coverage. Products such as Accidental Death Policies or Guaranteed Issue Life Insurance policies.
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!