When applying for life insurance with high-risk medical conditions or pre-existing medical conditions, things can be a tad bit scary. You may not know where to turn or what to do next. Don’t let this be you. Plenty of options exist, and plenty of agents and life insurance companies want to help to find you the best option. Often when we speak to potential clients, we get asked one question. We want to cover it in depth today for you. Many clients ask, can I get life insurance with lupus?
Yes, you can get life insurance with lupus. Cases will be evaluated on an individual bases, but in many circumstances, you will be approved for life insurance with lupus. Other factors that can impact approvals with lupus include
Now that we know it’s entirely possible to obtain life insurance lupus, it’s important to cover how we get those life insurance approvals and what all will be involved in making sure you give yourself the best overall chances of being approved and being approved at the best possible rates.
Let’s dive into some of the other specifics.
Is Lupus a Pre-Existing Medical Condition with Lupus?
First and foremost, we get asked this frequently. Is lupus a pre-existing medical condition? Yes, lupus is considered a pre-existing medical condition in the eyes of the life insurance companies and approvals will require detail, and many factors to be considered and weighed before a final decision is reached.
Symptoms, Signs and Risk Factors with Lupus and Why Life Insurance Companies Are Concerned
We know that most of you already know this information, but just in case we have a reader that doesn’t, it’s important that we touch on it briefly. Lupus is considered an inflammatory disease. It occurs when the body begins attacking its own organs.
This can include, lungs, kidneys, joints, heart, and skin. A great indicator can consist of someone with a butterfly-shaped scar on someone’s face. In many circumstances, lupus targets women.
Unfortunately, currently, no known cure exists for lupus, but there is plenty of preventive maintenance and treatments that ensure you live more comfortable and traditional lives. Lupus is very similar to arthritis. What do we mean by this? Well, lupus tends to have flare-ups or episodes. This does make lupus a bit unpredictable which is never the best-case scenario when applying for life insurance.
Don’t worry we will touch on that more shortly. Let’s dive into the 2 major kinds of lupus and how it impacts life insurance.
Systemic Lupus and Life Insurance
Systemic Lupus doesn’t have a directly known cause, but it has been linked to genetic, environmental, hormonal and specific medicines as being possible risk factors. It typically shows signs and occurs between the ages of 15-44. With systemic lupus, the most significant factor in determining eligibility for life insurance comes down to the age of diagnosis. If you are under 20 when the lupus is diagnosed, it’s going to be impossible be approved for traditional life insurance coverage (don’t worry, other options are available)
If, however you are over 20 years old and it’s been diagnosed longer than 1 year ago, you have options to be approved for life insurance. Usually, the longer it has been since the diagnosis, the better. For example, if you are over the age of 20 and the lupus was diagnosed more than 5 years ago, you can still obtain standard rates on your life insurance (3rd best rating)
If, however, it’s only been 1 year, you are leaning closer to the life insurance being declined or rated close to the worst rating possible in the life insurance world. Don’t worry, that doesn’t mean not to apply, it’s just to give you an outline of what to expect going forward.
Older isn’t Always Better- Age Matters with Life Insurance and Lupus (SLE)
Being diagnosed too old with lupus can also be problematic. If say for instance you were diagnosed over the age of 60, you will pay higher rates in most cases for the same amount of life insurance coverage.
Also, if lupus has caused disability, you will likely be declined. Lastly, if your SLE is impacting other major organs, you will also be rejected for traditional life insurance coverage.
Discoid Lupus and Life Insurance
Now let’s move on to discoid lupus. Discoid lupus acts like SLE when it comes to life insurance. However, with discoid lupus, steroids are used frequently. Steroid use is common, but unfortunately, frequent steroid use is never a great thing when it comes to obtaining life insurance. If your steroid use is a low dose or oral steroids, you can expect to be approved easily for life insurance, and if it’s a high dose of steroids (more than 15mg) per day, you will likely be declined and need to consider other avenues for providing your family with protection.
The Underwriting Factors Broken Down- Life Insurance Underwriting Guidelines with Lupus
So, we have covered the actual factors of lupus on their own but haven’t discussed other underwriting considerations that will be factored in during the approval and application process. As always the life insurance company is also going to be curious about the following items.
All these items will always be important when attempting to gain approvals for life insurance with lupus or without lupus. These help the life insurance company get a full scope view of your overall health and risk you pose to the company. You see, life insurance companies intend 100% to pay death claims. This makes them very careful and choosy about who and why the approved life insurance applications and why they may decline them.
Let’s take a minute and discuss some possible things you could do to improve your chances of being approved with lupus for life insurance.
Getting Approved for Life Insurance with Lupus- The Breakdown
To help ensure that you have a strong chance at approval when applying for life insurance with lupus, there are a few things you can do to increase the overall likelihood that the approval happens. First, be honest and transparent with your agent and with the life insurance company.
The more detail, the better. The more information you can give the underwriters, without sending them on a wild goose chase, the better things will ultimately be for you. Also, be very diligent and organized with information about your health.
Have records and information detailed and wrote down that includes some of the following information.
Usually, we inform potential clients of this information, they typically ask the question, what are my chances of being declined. Let’s cover that for a moment.
Chances of Being Declined for Life Insurance with Lupus- Next Moves
First and foremost, we have no idea of the actual chances of being declined. If you are honest and transparent about everything, we can always guide you to the best option and work with only life insurance companies that are favorable toward lupus. No matter what, it’s still ultimately in the hands of the underwriters and the life insurance company, not the actual agent.
If you aren’t taking the high doses of steroids, it wasn’t diagnosed before the age of 20, and other factors are in good order, most likely a decline is something that won’t need to be discussed because chances are that you will be approved. If, however, some of those factors mentioned apply to you, the possibility of a decline increase dramatically. It all just depends. All way can say is that it’s always worth trying to protect your family and going through the process.
The process is always free, and it makes no logical sense not to try.
Accidental Death and Guaranteed issue Life Insurance with Lupus
If you have been through the process and been declined for the coverage, it’s important to understand that your options don’t end with traditional life insurance coverage. If you have been rejected, you should always consider accidental death life insurance or guaranteed issue life insurance. They are still great viable options that can provide your family with some protection and peace of mind.
Guaranteed issue life insurance- Available ages 50-85- Coverage Amounts- 2500-40,000
If you are looking for guaranteed issue life insurance, keep in mind that this is a whole life policy (good for life) and that it does come with a 2-year waiting period attached to the death benefit. Just meaning, you have to trade 24 months of full death benefits for being approved with any pre-existing medical conditions. During these two years, you will be afforded 100% of your money back plus 10% (with reputable companies) if something god forbid did happen to you during this time frame.
Accidental Death Life Insurance Coverage
If this is the option, you decide to take it’s easy to understand. It will cover any form of death that is deemed an accident in nature. It’s cheap affordable and still a good option. Keep in mind that you can also always use these options and attempt to re-apply for traditional life insurance coverage at a later time if your lupus begins to improve.
Putting It All Together- Don’t Shy Away from Life Insurance If You have Lupus.
Can I get life insurance with lupus? Yes, and it’s why we wrote this post to ensure that you are aware of your options and great options are still available if you have lupus. Be transparent with your agent. Inform them of everything necessary to get started and let us go to work for you. At Good Life Protection, we are used to handling cases like this all the time, to get started, fill out the quote form on the right and compare rates between 50 of the top rated and most known life insurance companies in the country. You can always feel free to give us a call as well at the number listed above.
Is Lupus a Critical Illness in The Eyes of The Life Insurance Company?
No, lupus on its own would not be considered a critical illness when it comes to life insurance. If you have a policy that offers this benefit, it will not meet the requirements needed to trigger a payment from the life insurance company. If, however, other organs are involved, and the condition gets worse, those circumstances may change. Be sure to read and understand your life insurance completely or reach out to your agent to get more details on the payout options with your given policy.
Josh Martin is the founder of Good Life Protection. He began his career as a captive Agent working for New York Life Insurance Company. After continued education and designations, Josh founded Good Life Protection to provide consumers with more options and insurance that truly fits into your budget and health classification.