The majority of people think life insurance with muscular dystrophy, but it can still be possible to obtain traditional life insurance. Life insurance with muscular dystrophy is considered a high risk condition, but like so many others it is still possible to find coverage. Just applying for coverage with any company will probably get you declined for coverage. This is why working with a high risk agency who works with medical conditions on a daily basis will give you the best chance at approval. This article will discuss how life insurance companies view muscular dystrophy, the questions which will be asked before application, and how they impact life insurance with muscular dystrophy.
Rates for life insurance are based on multiple different underwriting factors which can include age, sex, health, occupation, and any risky activities which are participated in. Life insurance with muscular dystrophy falls into a high risk category based upon its impact on health and life expectancy. Any type of muscular disorders will be red flags to most life insurance carriers when they start the underwriting of a policy. Another obstacle for life insurance with muscular dystrophy is it’s properties as a progressive disease. This means it worsens over time.
One of the biggest factors in obtaining life insurance with muscular dystrophy is how long you have had it, and how well it is managed. Life insurance carriers look for a history of control with any disorder. When someone does not control symptoms properly it makes finding a policy much more difficult. Carriers will also want to see if any severe type of symptoms are beginning to develop such as spasms or muscle weakness. Before we submit any applications we want to be sure we have a good chance at being approved for the policy we are applying for.
The biggest task when applying for life insurance with muscular dystrophy is providing the details to the life insurance carriers in order for them to make a tentative offer. As a high risk life insurance agency we have direct access to life insurance underwriters from all of the major carriers. This gives us a leg up on the competition as it can give you an idea of what policy you can apply for, what policy you can qualify for, and at what rates you can expect to pay for a life insurance with muscular dystrophy policy. Some of those questions may include:
Your responses to these questions will help us determine which is the best plan of action for you. If for some reason we feel we cannot obtain you a traditional life insurance policy, then we will not just leave you unprotected. We do have a variety of different options to fill this void such as a graded life insurance policy, or a guaranteed issue life insurance policy. If your answers to these questions come back with offers they could be expected to be in the Table 2-6 range. This depends on how well your condition is controlled, longevity of muscular dystrophy, and any complications in the last twelve months.
Purchasing life insurance with muscular dystrophy can be very frustrating when not working with an experienced high risk agency. We are here to help you navigate all the options you have for a policy. If you have any additional questions please reach out to us and we will be happy to answer them and provide you with possible solutions.