While we don’t get a ton of calls from folks suffering from a pre-existing medical condition called arteriosclerosis obliterans, we do seem to get a disproportionate amount of calls from clients who have already applied for coverage with another life insurance company or brokerage who have either been denied coverage, or they’ve been approved, just not at the “Rate” they were hoping for.
For this reason…
We figured we might as well write a brief article on what arteriosclerosis obliterans is, and how it will be viewed in the “eyes” of most life insurance underwriters.
Arteriosclerosis obliterans is an occlusive (“blocking”) arterial disease that most commonly affects the abdominal aorta as well as both the small and medium sized arteries of the lower extremities.
Common symptoms of arteriosclerosis obliterans can include:
- Muscle pain.
- Cold and pale limbs.
- Limb numbness or tingling.
- Discoloration of the limbs.
- Difficulty walking.
- General fatigue.
- As well as a feeling of light headedness or dizziness.
Treatment options for those with arteriosclerosis obliterans will often include both medication designed to reduce the “causal” risk factors associated with arteriosclerosis obliterans as well as surgical procedures designed to improve circulation.
Common pre-existing medical conditions which could exacerbate arteriosclerosis obliterans symptoms and thus make it more difficult to qualify for life insurance will include:
- Elevated cholesterol levels.
- And diabetes.
Blood thinners will also frequently be prescribed to folks who have been diagnosed with arteriosclerosis obliterans in an effort to reduce the risk of developing blood clots.
Applying for coverage after being diagnosed with arteriosclerosis Obliterans.
One of the first questions well ask here at TermLife2Go, once we’ve learned that a client has been diagnosed with arteriosclerosis obliterans is:
“How much life insurance coverage are you looking to purchase?
The reason why we ask this question first is because, if a client is only looking for about $25,000 in coverage, sometimes, it makes sense to first take a look at what is called a guaranteed issue or simplified issue life insurance policy.
Simplified issue life insurance may only require answers to a handful of questions. You can also find policies where there are no questions asked at all.
Guaranteed issue life insurance policies won’t require an applicant to take a medical exam or answer any health-related questions in order to qualify. In fact, all you’ll need to do to prove you are eligible for these types of life insurance policies is demonstrate that you’re a US citizen and are between the age of 40-85 (product may not be available in your state).
The only problem is…
That these types of life insurance policies do contain what is called a graded death benefit which will limit when your life insurance policy will begin covering you for natural causes of death.
For more information about guaranteed issue life insurance policies, we would recommend that you take a look at our article covering the best final expense and burial insurance companies.
But let’s face it…
Most people who are looking to purchase a life insurance policy aren’t interested in only purchasing $25,000 dollars in coverage.
Most folks will be looking to:
- Provide enough coverage to protect a spouse or child.
- Cover the cost of a mortgage.
- Replace lost income earnings.
- Etc, etc…
For folks with these types of needs, $25,000 dollars in coverage simply isn’t going to get it done. This is why we’ll typically recommend a fully underwritten term or whole life insurance policy first.
The only problem is, these types of life insurance policies are ones that you’ll need to qualify for. And if you’ve already been diagnosed with arteriosclerosis obliterans, this can become quite difficult!
The good news is…
That while it will probably be impossible for someone who has been diagnosed with arteriosclerosis obliterans to qualify for a Preferred or Standard life insurance rate, that doesn’t mean that they’ll automatically be declined either.
Applicants who have been diagnosed with arteriosclerosis obliterans should still be able to qualify for a rate class below Standard, they’re just going to need to understand that most insurance companies are going to view their application as a “High Risk” application and that they may need to supply additional information than an “average” application might in order to be approved.
Factors that will come into play…
In determining whether or not you can be approved for a traditional term or whole life insurance policy, the insurance companies are going to need to determine how “severe” your arteriosclerosis obliterans is and how well you are currently managing its symptoms.
Common questions you’ll likely be asked concerning your arteriosclerosis obliterans will often include:
- How old are you?
- What is your current height and weight?
- When where you first diagnosed with arteriosclerosis obliterans?
- What symptoms do you currently have resulting from your arteriosclerosis obliterans?
- Do you have any other pre-existing medical conditions?
- Have you ever suffered from a stroke or been diagnose with diabetes?
- In the past 12 months have you used any type of tobacco or nicotine products?
- In the past 12 month have you been hospitalized for any reason?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
From here, the insurance companies will generally have a pretty good idea about whether or not you’ll be eligible for a traditional term or whole life insurance policy.
Here at TermLife2Go, we’ll also have a pretty good idea about “which” life insurance company is going to be the most likely company to offer you a great rate.
Because we here at TermLife2Go have chosen to remain an independent life insurance brokerage, we don’t have to rely on just one or two different life insurance companies when it comes to helping our clients find the coverage they deserve. Instead, we here at TermLife2Go are able to shop dozens of different life insurance companies for you simultaneously!
So, what are you waiting for? Give us a call today or visit our Term Life Insurance Quotes page and see what we can do for you!