If you or someone you know is currently shopping for life insurance with a pre-existing condition like Parkinson’s Disease, you probably already know that getting approved for a great rate can be really challenging.
This is particularly true…
If you find yourself working with an agent who either isn’t “super” familiar with your condition or simply doesn’t have enough options to turn to in order to help you find the coverage that you’re looking for.
The good news…
It that we here at InsuranceBrokersUSA, have a ton of experience helping folks with pre-existing medical conditions like Parkinson’s disease find the coverage that they’re looking for and… we work with dozens of different life insurance companies so we “hopefully” we’ll have what you need.
One thing that we’ve found that seems to really facilitate the “process” of qualifying for a quality term or whole life insurance policy is to help educate our clients so that they can be active participants in the process!
So, without further ado…
Let’s dive right into the discussion by first defining what Parkinson’s disease and discuss how it can play a role in the outcome of your life insurance application.
What is Parkinson’s Disease?
This is a disease of the nervous system. As a progressive disorder, it will generally get worse with age and time.
Symptoms of Parkinson’s Disease include:
- Shaky hands (aka tremors)
- Muscle stiffness
- Inability to grab onto things easily
- Speech problems
- Inability to control movements
- Difficulty to hold a pen or type on the computer or phone
These will start off as mild symptoms, but will typically become progressively worse with time.
Treatment for Parkinson’s Disease.
There is no cure for Parkinson’s but some medications may control symptoms. Regular physical therapy can also help. In some instances, patients may be advised to undergo surgery.
Life Expectancy with Parkinson’s Disease.
The basic question all life insurance companies want to answer is: what is your life expectancy? The medical issues that you have impact the answer to this question. For people with Parkinson’s, the life expectancy may be shortened, however, not necessarily.
Complications caused by Parkinson’s Disease.
Usually, the cause of a shortened life expectancy is a complication rather than the disease itself. Whenever something so major like your nervous system is attacked, then your mobility and functionality is going to suffer. As a result, your immune system may be compromised or you may be injured in an accident.
At this point we would like to remind our reader that we’re 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 Parkinson’s disease qualify for life insurance. So… if you’re looking for medical advice, don’t look here, call your doctor!
However, if you’re trying to find a great life insurance police, keep on reading!
Qualifying for Life Insurance with Parkinson’s Disease.
Whether or not you’ll qualify for a fully underwritten term or whole life insurance policy with Parkinson’s Disease or not will largely depend on how your disease is progressing.
So, let’s take a look:
No Signs of Progression
If you have early symptoms and it doesn’t appear that things are deteriorating, then you should “theoretically” be able to qualify for a fully underwritten term or whole life insurance policy.
You’re not going to be able to qualify for a preferred or preferred plus rate but then again, neither can most people! You’ll also “probably” not be able to qualify for a standard rate either. But that doesn’t mean that you can’t qualify for a low Table rate.
Qualifying for a Table A Rate.
Being able to qualify for the lowest table rate, a Table A will largely depend on how slowly your Parkinson’s disease is progressing in addition to your lifestyle, health and the life insurance company that you choose to apply with.
It’s quite possible that one company may offer you Table A and another Table C. The trick is to find the right life insurance company and apply there. In order to do this, your best bet is to call InsuranceBrokersUSA.
If you do have some signs of progression, but things seem to be moving very slowly, you will still qualify for life insurance.
You will not qualify for Table A-C, but will qualify for Table D-H.
Getting Table D.
Though it’s not the best rate, it’s still better than H. To find the life insurance company that will offer you a Table D rating, you should seek some expert advice from InsuranceBrokersUSA!
If you have moderate-advanced Parkinson’s Disease, you will not qualify for term or whole life insurance. In the eyes of the life insurance company, you are just too much of a risk.
There’s an Alternative!
Instead of setting your hopes on term or whole life insurance, you can get guaranteed issue life insurance. This is a great option for people who do not qualify for term or whole. You will be insured – guaranteed.
There are some drawbacks, but overall, it’s definitely an option worth considering.
Even if you go with Guaranteed Issue…
You should seek some unbiased expert advice. Not all guaranteed issue life insurance policies are the same – and you want the best, don’t you? The term “the best” is subjective, and depends a lot on what you need. We’ll help you find not the best…but the best for you!
We have years of experience in the life insurance industry. We work with dozens of life insurance companies and that puts us in a great position to help you find a really awesome life insurance policy, no matter what!
So what are you waiting for? If you want to get life insurance coverage and peace of mind, call InsuranceBrokersUSA today for a free consultation.