Finding coverage for clients with fibromyalgia requires that we have an intimate knowledge of the best life insurance companies and the specific niches each company caters to. That is how we help our harder to place clients secure coverage, for both exam and no medical exam life insurance.
Life Insurance with Fibromyalgia
If you have fibromyalgia and you are shopping for life insurance then you need to read this. There are three important questions you need to ask if you are applying for high risk life insurance with a history of fibromyalgia:
- Can I get life insurance if I have fibromyalgia?
- What will life insurance cost someone with fibromyalgia?
- What is the process of applying for life insurance when you’ve been diagnosed with fibromyalgia?
Let’s begin with a brief overview.
Fibromyalgia is chronic pain and tenderness in the joints, muscles, tendons, and other soft tissue. The cause of fibromyalgia is unknown.
Top 10 Fibromyalgia Symptoms
- Pain all over
- Sleep difficulties
- Brain fog
- Morning stiffness
- Muscle knots, cramping, weakness
- Digestive disorders
- Balance problems
- Itchy/burning skin
Can I get life insurance with fibromyalgia?
The quick answer is, YES.
Ultimately, approval will depend on:
- When you were diagnosed,
- how much discomfort or pain you are in,
- what medications you take, and
- your ability to do activities of daily living (ADLs)
If you have severe fibromyalgia then you would want to consider a burial life insurance policy where there is no exam and no health questions from one of the best burial insurance and final expense insurance companies.
What is the cost?
Life insurance companies have about 16 different rate classes. What rate class you qualify for will also determine your life insurance cost.
Most well controlled clients with fibromyalgia will come back at a standard rate class. This is someone with mild pain, not on disability, who can perform activities of daily living, i.e. feeding, bathing, driving, working, etc., with no hindrances.
However, there are no fully underwritten policies available for more serious cases of fibromyalgia, where the client experiences moderate to severe pain, or where the client is on disability. Once again, if you have severe fibromyalgia then you would want to consider a guaranteed issue life insurance policy where there is no exam and no health questions.
If you are curious what your price tag would be, simply enter your information and see what a standard rate class would be for your age and gender.
What is the process?
A guaranteed issue policy is quick and easy. It is guaranteed issue so everyone within the required age bracket will qualify for this coverage. Typically, the amount you can qualify for will be from $5,000-$$30,000 depending on the carrier. Most come with a graded death benefit limitation which provides that the full death benefit will only be paid after the policy has been inforce for two or more years.
A fully underwritten life insurance policy requires a life insurance medical exam. The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.
The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all life insurance companies are the same when it comes to underwriting fibromyalgia!
Not all life insurance carriers are the same.
The life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers. As a consumer, it is in your best interest to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different companies available. Only by doing this can you insure that you are getting the best types of life insurance policies tailored to your specific needs.