So when we have someone call in or request a quote for life insurance we’ll usually start off with some typical questions like:
- What got you thinking about buying life insurance?
- Do you have any life insurance in place right now?
- And how much life insurance where you looking for?
Not all life insurance policies are going to require the same amount of information in order for you to qualify.
- Some insurance policies may require you to take a medical exam while others may not.
- Other companies may simply look at what prescription medications you’re taking and ask a few medical questions.
- And then there are your “guaranteed issue” life insurance policies that won’t ask any medical questions or require a medical exam!
It really just comes down to what you looking for.
That when we have an applicant who is currently taking Coreg and Coreg ER (Carvedilol) which a prescription medication that is used to treat heart failure and/or hypertension, depending on the type of insurance you are looking for will definitely determine how important your Coreg prescription will be.
Let’s just assume that…
You looking for more than $25,000 dollars in coverage and that the policy that you’re looking for will require you to answer a few medical questions.
The questions that you’re likely to encounter, above and beyond, the normal life insurance questions such as age, height and weight will likely include:
- Why have you been prescribed Coreg?
- Have you been diagnosed with heart failure?
- Have you ever suffered from a heart attack?
- How long have you been taking Coreg?
- Did your primary care physician prescribe Coreg or did a cardiologist?
Now it’s pretty safe to say that if you’ve been diagnosed with heart failure, you’re generally not going to be eligible for a traditional term or whole life insurance policy.
For this reason, we’ll generally recommend that you pursue a “guaranteed issue” life insurance policy which won’t inquire about your health at all.
No heart disease, only hypertension…
Now for those who are simply using their Coreg to lower their blood pressure, we generally find that most folks don’t get penalized for its use.
Meaning that you’ll still be eligible for a “Preferred” and even a “Preferred Plus” rate class if you know where to look.
The secret lies in having options.
Once we’ve established that your Coreg and Coreg ER (Carvedilol) use isn’t going to play a major role in the outcome of your life insurance application, we’ll then need to determine if there are any other factors that could become an issue. Factors such as:
- Your age.
- Your height and weight.
- Do you use any tobacco or nicotine products?
- Have you ever been diagnosed with having suffered from cancer, stroke or diabetes?
- Has any of your immediate family members ever suffer from cancer, heart disease, stroke or diabetes?
- Are you taking any other prescription medications?
- Do you have any issues with your driver’s license?
- Have you ever committed a felony or misdemeanor?
- Etc, etc…
Now any one of these questions could then become the deciding factor on which life insurance company is going to be best for you. That is of course if you decide to apply for coverage with a life insurance brokerage like TermLife2Go.
Here at TermLife2Go, we have chosen to remain an independent life insurance brokerage able to work with dozens of highly rated life insurance companies in an effort to give each and every one of our clients the best opportunity for success.
So what are you waiting for? Give us a call today and see what we can do for you!
Lastly, for those who don’t really want to speak with an agent before they have a chance to look at a few quotes, we would encourage you to check out our Term Life Insurance Rates page when you have a chance since it will provide you with dozens of quotes instantly!
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.