It is commonly believed that individuals with pre-existing conditions, such as asthma, generally pay higher premiums than those individuals who do not.
Depending on the conditions severity, it can also cause some individuals to be unable to obtain insurance coverage.
Although this information may be disheartening for some, the insurance professionals at Claybrooke can help individuals with pre-existing conditions not only obtain life insurance coverage, but also coverage that is affordable and fits all their needs.
Asthma Defined
Asthma is defined as the inflammation of the airways, medically known as bronchi. These tubes transport oxygen to and from the lungs. In an individual who suffers with asthma, these airways become inflamed when they come into contact with an irritant such as pollen or other air born item.
During an asthma episode or attack, the individual’s chest may tighten and it may become difficult to breathe; these symptoms may vary in their severity.
The exact cause of asthma is not known, but there are a number of theories as to how asthma develops. Some theories link the onset of asthma to environmental factors and others believe a combination of family history and factors of the environment plays a role.
There are also some professionals who believe asthma is linked to other conditions such as eczema or allergies. Regardless of how asthma develops, there are many ways in which to control the symptoms of an asthma attack.
Although there is currently no complete cure for this condition, there are a number of different treatments and medications available to help control the symptoms and even prevent asthma attacks. Specific medications, lifestyle changes, and researching an individual’s trigger irritants are all ways to help prevent episodes and alleviate symptoms. Some of the common treatments used are reliever inhalers, preventer inhalers and some oral steroids.
How a Life Insurance Application can be Affected by Asthma
Most insurers, if not all of them, take a close look at an individual’s medical history when considering a life insurance application. If a pre-existing condition such as asthma is present, insurers will then dive into the severity of the illness and how well the individual is managing their condition. Since asthma is a common condition and generally easily manageable, insurers will rarely raise rates for individuals with this condition – “standard term” policies are usually granted in these cases.
If the asthma is not well managed or the symptoms are severe enough to have caused a hospital visit in the past two years, life insurance companies may opt to grant “rater premiums” instead of the usual standard terms. Because the risk of a claim is higher in an individual with severe or unmanaged asthma, insurers will generally charge higher rates to cover this risk.
If there is not enough information to make a definitive decision, insurers may ask the applicant for more information regarding their condition.
Although obtaining life insurance with a pre-existing condition such as asthma may be overwhelming, Claybrooke’s insurance professionals can help these individuals obtain coverage easily. Our insurance consultants can walk you through different policies, helping to find the best possible coverage for the best price.
Having a life insurance policy can help bring peace of mind for many individuals, especially those with pre-existing conditions, and Claybrooke is here to help.