Do you have systemic Lupus Erythematosus? If you do then qualifying for a fully underwritten term or whole life insurance policy maybe a bit difficult, but not impossible.
Which is why…
There are a few things you’re going to want to know before you apply for coverage.
If you’re seriously thinking about purchasing a fully underwritten term or whole life insurance policy, please keep reading to find out exactly why insurance companies are going to be SO interested in the fact that you’ve been diagnosed with a pre-existing medical condition like systemic lupus erythematosus and what things you can do to best improve your chances at qualify for the “great” rate that you deserve!
Now to best get you started…
We like to first start by defining exactly what Systemic Lupus Erythematosus is and why life insurance companies are going to be so interested in the fact that you’ve been diagnosed with it.
So, what is Systemic Lupus Erythematosus?
Systemic Lupus Erythematosus is an autoimmune disease and a type of lupus. Whenever you hear someone say they have “Lupus”, most of the time they are talking about SLE.
Symptoms of SLE.
There are various symptoms. People who have SLE may suffer some of the following. Because the symptoms range broadly, it can be difficult to diagnose:
- Anemia (as a symptom),
- Tiredness (Another symptom of Anemia),
- Raynaud’s Phenomenon,
- Join problems (ache, pain, swelling),
- Rashes from the sun,
Where does SLE Attack?
People may have problems in various organs of the body. It can vary from person to person. Some organs that may be attacked include: heart, skin, and anywhere in the digestive tract.
Unfortunately, there is not a treatment for SLE yet. At current, a doctor may include various drugs to aid the symptoms rather than treat the problem. These drugs will vary depending on the symptoms. For example, if you have rashes, your doctor will prescribe a cream to ease the pain. If you have joint stiffness, then you may be prescribed anti-inflammatory medications.
Again, depending on your disease, your diet can aid or hurt your symptoms. For example, there are many anti-inflammatory foods such as turmeric, onion, and so on.
We here at InsuranceBrokersUSA aren’t medical professionals, and we’re certainly not doctors. So, if you have any specific medical questions you’d like to ask, feel free, just be sure that you ask your doctor not us.
That said however…
If you’re just looking for a quality life insurance policy that you can qualify for, well then… good news you’ve come to the right place!
Qualifying for life insurance with Lupus (SLE).
There are some long-term complications associated with lupus. Because of this, lupus patients are typically going to be considered a “high-risk” for life insurance companies.
Factors that will come into play will include:
The exact symptoms that you are suffering from as well as the severity of those symptoms.
No Symptoms: if you suffer from no symptoms, then you can still qualify for a term or whole life insurance policy. That said however, you’re not likely to be eligible for a Preferred or even Standard rate. In general, what you’re typically going to find is that even those with vary minor SLE symptoms will be limited to a Table Rate.
Table rates are life insurance rates that fall below a Standard rate and are typically reserved for “high risk” applicants. In total, there are 10 different table rates ranging from Table A (the best and least expensive table rate) all the way to Table J (the worst or most expensive table rate). Individuals suffering from SLE will usually qualify for a Table D-J rate depending on varying factors including whether or not you have ever had symptoms. Also in consideration are other issues pertaining to your health.
Minor Symptoms: there is a slight change you could get a Table J rating, but it really depends on what kind of minor symptoms you have and if they are largely in remission.
Anything More Severe: You will usually be declined a traditional fully underwritten term or whole life insurance policy.
If You Do Not Qualify for Term or Whole Life Insurance.
Believe it or not…you still have an option to get life insurance! Even with severe symptoms of Lupus, you can still get a type of final expense life insurance.
Final Expense Life Insurance.
This is a type of life insurance designed to cover your:
- Burial or cremation,
- Days taken off by loved ones,
- Other basic “last” expenses.
The type of final expense life insurance you can qualify for is called guaranteed issue life insurance. You will qualify for this even if you are in a very severe state and close to your passing.
Policy limits will generally be smaller for guaranteed issue life insurance policies than more traditional term or whole life insurance options.. If you have minor symptoms of lupus, you should try to get term or whole life first. But if you do not qualify, then final expense is a good option.
Death Benefit: Normally, the death benefit of a guaranteed issue life insurance policy is less than $30,000 and more realistically, somewhere around $5,000-10,000.
Guaranteed issue life insurance will also contain a graded death benefit which will put limitations on when our guaranteed issue life insurance policy will begin to provide full and complete coverage.
For more information regarding how graded death benefits work, we strongly encourage you to give us a call directly.
So, do you have lupus and want to find the best life insurance policy?
Don’t just stop here. Instead, continue on the path to finding the best life insurance with lupus by calling experts you can trust. We’ll work with you to find not just the best life insurance for lupus patients, but more specifically, the best life insurance for YOU!
We’ll take all your specific medical and lifestyle issues into consideration. Then, we’ll help you find a great policy that meets your needs.
Call us today for a free consultation!