Ok, so we’re not going to try and sugar coat it.
Folks who are using Digotex, are going to have a more difficult time finding a life insurance policy that those who are not using DIgotex!
This is simply because, Digotec (digoxin) is a prescription medication that is primarily used to treat patients who are suffering from heart failure and/or atrial fibrillation. Digotex works by making the heart beat stronger and with a more regular rhythm.
“But my doctor says that I’m doing great!”
Which is certainly good news, however, insurance companies primary goal is to avoid risk, which is why insurance companies are going to be “really cautious” prior to extending an offer of coverage to anyone who is currently taking Digotec.
Initial ways that an insurance company will screen applicants:
During the initial application phase, insurance companies will use questions such as:
- Why were your originally prescribed Digotec?
- Who prescribed you Digotec, your primary care physician or a cardiologist?
- Have you ever suffered from a heart attack or stroke?
- How often do you visit your primary care physician or cardiologist?
- Have you been diagnosed with any other serious medical conditions?
- Are you taking any additional prescription medications?
- Have you been hospitalized in the past 2 years?
- Within the past 12 months have you used any tobacco or nicotine products?
- What is your current height and weight?
From there depending on how you answered, insurance companies will likely follow up with additional questions such as:
- If you have suffered from a stroke or heart attack, how long ago did it occur, and how old were you at the time?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
- In the past 6 months have you had an EKG performed, and if so what were the results?
- And in the past 6 months have you had a cardiac stress test performed and if so what were the results?
With this information in hand, insurance companies and us, here at TermLife2Go, will generally have a pretty good idea if it makes sense to move forward with applying for what is called a “fully underwritten” term or whole life insurance policy.
What does fully underwritten mean?
When it comes to thinking about life insurance, whether people know it or not, the most common type of life insurance policy out there is a “fully underwritten” life insurance policy.
These are insurance policies are those that will require a client take a medical exam (which is paid for by the insurance company) along with submitting a fully completed application prior to being considered for approval.
During a fully underwritten insurance application, insurance companies will require that you take a medical exam and in most cases also submit to a:
- Prescription database check.
- Review of your DMV records.
- Criminal background check.
- And possibly order medical records from your doctor.
You’ve just recently had a heart attack 2 weeks ago, have a passion for smoking Cuban cigars and are 200 lbs. overweight, wouldn’t you rather be told right away that you’re not going to qualify for a “fully underwritten” term life insurance policy especially before you were “poked” with a needle during the exam!
So if I can’t qualify for a fully underwritten policy, what can I qualify for…
Don’t give up just yet!
Just because it may “seem” like you can’t qualify for a fully underwritten life insurance polciy, doesn’t mean that you won’t qualify for a fully underwritten life insurance policy.
This is why you should always give us a call even if you’ve been turned down before.
After all, like we said in the beginning, we’re not going to sugar coat it!
The thing is that with us, since we work with some many different life insurance companies, just because “ONE” of them says “NO” doesn’t mean that they’ll all say “NO”.
You may need to consider a policy that won’t require a medical exam or ask any medical questions. These types of policies are called “guaranteed issue” life insurance policies and in some cases might just be what you’re looking for!
So what are you waiting for? Give us a call today and see what we can do for you!
Lastly, for those who would like to get a general idea about how much their life insurance could potentially cost before speaking actually with a “live” agent, we would encourage you to check-out our Instant Life Insurance Quotes page when you have a moment!