Life Insurance with Anemia

by Jeff Rose on September 21, 2017 · 0 comments

in High Risk Insurance

Life Insurance with Anemia If you are suffering from anemia, it’s going to make it harder to find life insurance.

However, many applicants with this condition are able to qualify for a good policy and so could you. In fact, regardless of your health or any pre-existing conditions that you have, there are several options for affordable life insurance protection.

When you apply, your rating will depend on the severity of your anemia, its cause, and how well you are treating your condition.

Depending on your situation, anemia might not affect your rating at all. To help get you prepared for your application, here are the life insurance guidelines for someone with anemia.

Life insurance is one of the most important purchases that you can ever make for your family members. I know that shopping for life insurance is not a fun task, but that’s why I’m here. It’s my job to ensure that you’re getting the best insurance plan for you and your family.

Life Insurance Underwriting for Anemia

When you apply for life insurance with (sickle cell) anemia, you should be prepared to answer several questions about your blood condition. Expect to answer:

  • When were you diagnosed with anemia?
  • What is the root cause of your anemia?
  • Have you ever had to go to the hospital because of your anemia?
  • Have you had any symptoms like headache, fatigue, or dizziness in the past 6 months?
  • What were the results of your last blood lab tests?
  • Are you currently taking iron supplements or any other medications for your condition?

Make sure to answer all these questions in complete detail. This is your chance to show that you have your anemia under control. If your application seems incomplete, your chances of getting a bad rating or rejection go way up.

The insurance company is also going to ask you dozens of questions about your overall health. Your anemia is only one of the factors that they are going to look at when deciding your insurance rates.

Regardless of your health or any pre-existing conditions that you have, like anemia, there is an insurance company that will give you affordable policy. Don’t let anemia keep you from getting the coverage that your family deserves.

Life Insurance Quotes with Anemia

When you apply for life insurance with anemia, your insurance rating primarily depends on the severity of your condition. Applicants that have their iron levels under control and aren’t anemic because of a more serious illness might be rated the same as someone without anemia. If an applicant’s anemia is more serious, it can become a bigger problem.

Insurers are also going to consider your overall health and your medical history when you apply. While each insurance company uses slightly different standards for anemia, here are the general underwriting guidelines to help you predict your rating.

  • Preferred Plus: Possible in very rare cases. It should have been two years since your last episode of symptoms and your blood levels should be normal. In addition, you should not have any other problems. Still, it’s difficult to qualify for the best possible rating with anemia because it still counts as a health risk.
  • Preferred: A bit more likely, but still rare, for applicants that don’t have any issues with their anemia and are in great health. Once again, your blood level needs to be under control and you should have any other health issues.
  • Standard: Most likely best rating for someone with anemia. Applicant should not have had any incidents in the past year, should have normal blood levels, and the anemia shouldn’t be caused by sickle cell anemia or aplastic anemia disease. Applicant should also be in decent health.
    Table Rating (substandard): Most likely rating for someone with anemia. Your rating will depend on the cause of your anemia (diseases are rated worse than something like pregnancy), your blood levels at the time, and your overall health. Applicants that have anemia because of sickle cell anemia or Crohn’s disease most likely won’t get anything better than a rated policy.
  • Declines: Applicants that have anemia because of aplastic anemia disease. Also, applicants that aren’t properly treating their anemia and have abnormal iron levels are likely to be declined.

Anemia Insurance Case Studies

When you have anemia, a good application can make a big difference for your rating. Here are a couple real life case studies that show the impact of smart planning.

Case Study: Female, 38 y/o, had anemia at 35 as a result of a pregnancy, took iron supplements and the condition is now under control

This applicant was diagnosed with anemia after being pregnant when she was 35. She followed her doctor’s orders diligently and regularly took her iron supplements. As a result, her anemia was under control and didn’t lead to any problems. However, when she applied for life insurance at 38, she only received a rated policy. We thought that insurers were paying too much attention to her past medical record of having anemia and weren’t considering her current good health. We recommended she see her doctor again and ask for a note vouching for her good health because of her lifestyle and medication. With this extra information, the applicant received a discounted, preferred policy.

Case Study #2: Male, 58 y/o, diagnosed with Sickle Cell Anemia at 55, applied for life insurance right away and was rejected.

When this applicant was diagnosed with sickle cell anemia at 55, he was in a rush to get life insurance. When he applied though, his application was rejected. This was because of a couple mistakes. First, the client applied too soon after his diagnosis; it would have been better to wait a couple years. Second, he hadn’t given the iron supplements enough time to take effect. At this point, we recommended the client take another blood test before applying to show his condition was in better shape. At this point, he received a rated life insurance policy.

Purchasing life insurance with anemia can be difficult, but it’s definitely possible for most applicants. We can help increase your chances. Our company specializes in finding life insurance for people with anemia. We’ll be able to match you up with companies that understand this condition and help you with your application.

Getting Cheaper Life Insurance

Life insurance is going to be one of the best purchases that you will ever make, but most people don’t buy life insurance because they assume that it’s going to be too expensive. There are several ways that you can secure better premiums and keep more money in your pocket.

The first thing that you should do is eliminate any tobacco that you currently use. If you’re listed as a tobacco smoker on your insurance application, then you should expect to get drastically higher rates for your insurance plan. In fact, smokers are going to pay at least twice as much for their insurance coverage versus what a non-smoker is going to pay for the same plan. If you want to save money, the best way to do that is to cut out the cigarettes once and for all.

Another way to save money is to improve your overall health. When you apply for insurance coverage, they are going to require that you take a medical exam, and the results of that exam are going to play an important role in how much you pay every month. If you want to save money, it’s time to get in better shape by getting regular exercise and making healthier diet choices. Both of these can help you lose weight, lower your blood pressure, and reduce your chances of being diagnosed with any other health complications.

Unlike a traditional insurance agency, we are a group of independent insurance brokers. That means that we don’t work with one single company. Instead, we work with dozens and dozens of highly rated companies across the nation. That means that we can bring all of the best insurance plans directly to you, without the hassle of having to call all of those agencies yourself.

You never know what’s going to happen tomorrow, which means that you shouldn’t wait another day to get the insurance protection that your family deserves. Not having proper life insurance is one of the worst mistakes that you could make for your loved ones.

For more information and free rate quotes, call or fill out our Compare Quotes online application form today on the right edge of this page.

If you have any questions about getting affordable life insurance with anemia, please contact one of our experienced agents today. We would be happy to answer those questions and connect you with the best life insurance policy to meet your needs. Our agents have years of experience working with all kinds of high-risk applicants and we know which companies are going to give you the best rates for your plan.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: