If you are one of the many Americans who deal with Osteoporosis, you may have found it difficult to find both accurate information and accurate quotes for life insurance.
Fortunately, finding life insurance with osteoporosis is not a dead end!
Even better, you could qualify for fantastic rates despite the osteoporosis diagnosis. The key to success is not only the right company, but the right agent to get you through with great success for an approval.
Let us help you not only get an accurate quote, but find the policy you’re looking for to help secure your financial future. Continue reading below to find out more about what osteoporosis is, and how it affects your life insurance underwriting.
Finding life insurance with osteoporosis primarily begins with not only finding a great resource to walk you through the process, but also finding the right company who will be most willing to offer you the best coverage at the best monthly premiums. In order to find out how and why a life insurance company views those who have osteoporosis as a risk, let’s first look at osteoporosis as a medical condition.
According to the National Osteoporosis Foundation:
Osteoporosis is a disease of the bones. It happens when you lose too much bone, make too little bone or both. As a result, your bones become weak and may break from a minor fall or, in serious cases, even from simple actions, like sneezing or bumping into furniture.
Osteoporosis means “porous bone.” If you look at healthy bone under a microscope, you will see that parts of it look like a honeycomb. If you have osteoporosis, the holes and spaces in the honeycomb are much bigger than they are in healthy bone. This means your bones have lost density or mass and that the structure of your bone tissue has become abnormal. As your bones become less dense, they also become weaker and more likely to break.
Affecting as many as every third person over the age of 50, osteoporosis affects not only a wide variety of individuals, but the variation in difficulties from the disease ranges greatly also. It might only present itself as a health risk to monitor, or it can be the direct cause of severe bone breaks which can lead to disabling consequences. For this reason, rates for life insurance with osteoporosis can vary also.
Bone breaks in those who are over 65 can cause not only severe pain and disability, but can lead to long term care instances and even death. Major bones affected which cause the greatest hazards are legs, hips and the spine (vertebrae). As osteoporosis advances, issues like bone breaks are made worse as the healing process and surgeries can be especially consuming of the patient.
When you apply for life insurance with osteoporosis diagnoses in your record, underwriters are looking for these more hazardous warning signs and cases. Someone who does not have many symptoms to address or needed treatments to undergo is much more likely to get great rates than someone who has suffered direct or indirect ill effects of osteoporosis.
If you were diagnosed later in your life and your symptoms and treatments are minimal to none, you could expect as high as a Standard rate for a traditionally underwritten life insurance policy. The rest of your health must be in average to better than average order, and osteoporosis has to have next to no impact on your daily activities.
If, however, you were diagnosed earlier in age or have dealt with complications like chronic pain, fractures, breaks or been hospitalized, you could be looking at Sub-Standard rates for your policy. Sub-Standard rates just means you’ll pay more per thousand for your insurance.
If the osteoporosis is more than mild, here are some questions which will be asked of you before finding accurate quotes:
All of these as a whole help us as well as the underwriter to determine what the best risk level we can approve your life insurance policy at, and that’s what ultimately determines your policy’s premium. The later in life your osteoporosis began and the less daily effect it has on you, the better. As each symptom, medication, treatment or surgery is added, it may or may not drop you down in rating for your life insurance with osteoporosis depending on things like time frame, severity, and root cause.
There are also many causes of osteoporosis in the first place. If you deal with other health conditions which require regular or extended use of steroids, this increases your risk for developing osteoporosis or making it worse. You may develop osteoporosis in localized parts of your body, so buying life insurance with osteoporosis can be dependent somewhat on the affected areas. In the long run, osteoporosis will affect many areas as your bones begin to lose density.
If you are looking for life insurance with osteoporosis, please don’t hesitate to give us a call or grab a quote so we can help you evaluate your current status.