Whenever we get a call from a client who is looking for pre-existing condition life insurance coverage after being diagnosed with arteriovenous malformations (AVM), the first thing that we need to know is:
“Have you already had surgery or received treatment to have this condition repaired?”
“How long ago did you receive your treatment, and is your condition stable now?”
From there, we can begin determine whether or not our client will be eligible for a traditional term or whole life insurance policy or whether they’ll need to look at some alternative life insurance product such as a simplified issue or guaranteed issue life insurance policy.
About Arteriovenous Malformations (AVM).
Arteriovenous Malformations (AVM) are defined as a tangle of abnormal and/or poorly formed blood vessels that create a “knotted cluster”. This “cluster” can literally occur just about anywhere in the body where blood vessels can be found.
The problem is…
That AVM’s are known to have a higher rate of bleeding than normal, properly formed blood vessels which is why AVM’s can be so problematic. Particularly those AVM’s located within the brain which can cause significant damage when they rupture and cause bleeding within the cranial cavity.
Symptoms associated with Arteriovenous Malformations.
Symptoms associated with arteriovenous malformations can vary significantly based on both the size and the location of the AVM.
Common symptoms for AVM found in the brain will often include:
- Memory lapses.
- And sudden onset dementia.
Common symptoms for AVMs found in the limbs and spinal cord include:
- Muscle weakness.
- Loss of muscle coordination.
- Partial paralysis.
Common symptoms for AVMs found in the organs, chest, or abdomen include:
- Chest, back and abdominal pain.
- And congestive heart failure.
Possible treatment options for those with Arteriovenous Malformations.
When it comes to treating arteriovenous malformations, it’s possible that you may receive medications to help manage the pain associated with having an arteriovenous malformations however, medications will not cure your condition, they will simply help make living with them more manageable.
Curing an arteriovenous malformation…
Is going to require that you either surgically remove the AVM, or you use stereotatic radiosurgery (SRS) in which radiation is focused directly on the AVM in order to destroy it without actually performing any physical incisions.
Which brings us back to where we started…
You see, when it comes to being able to qualify for a traditional term or whole life insurance policy, insurance underwriters are going to want to see that your AVM has been removed and/or destroyed in order for you to be able to qualify.
Insurance underwriters are also going to want to see that you don’t suffer any residual effects from the AVM and that your health is completely stable for at least 6 months post repair.
Now if this describes you, then you should be eligible for a traditional term or whole life insurance policy and may even qualify for a Preferred rate.
If this doesn’t describe you, well then, we could potentially have some issues…
If you’re someone who hasn’t had your AVM removed or you’ve been told that your AVM is inoperable, what you’re going to find is that most, if not all life insurance carriers are simply going to deny your traditional life insurance application immediately.
That you’ll now need to consider an alternative life insurance product that won’t require you to answer any health-related question or require you to take a medical exam in order to qualify.
The good news is…
That these types of policies do exist and are known as guaranteed issue life insurance policies. To be able to qualify for a guaranteed issue life insurance policy, all you’ll need to do to qualify is be able to demonstrate that you are a US citizen and that you are between the ages of 40-85! (product may not be available in your state).
The bad news is…
That these types of life insurance policies will also have some pretty significant disadvantages, which we’ll just take a moment here to describe here below.
Disadvantage # 1.
Guaranteed issue life insurance policies are only going to provide around $25,000 dollars in coverage. Which is why, for a lot of folks, these types of life insurance policies simply aren’t going to be a good fit.
When compared with other traditional types of life insurance policies which will require you to qualify for them “medically”, guaranteed issue life insurance policies will generally cost significantly more “dollar for dollar”.
Now this does not mean that your guaranteed issue life insurance policy will cost a fortune, it just means that you will need to pay more for the amount of coverage you actually receive than someone who can qualify for other types of life insurance policies would have to pay.
Guaranteed issue life insurance policies will contain a graded death benefit clause, which will limit when your guaranteed issue life insurance policy will actually begin covering loses due to “natural” causes of death.
Which means that when you purchase a guaranteed issue life insurance policy, because it will contain a graded death benefit, you will not be covered in the event that you die from an illness for some set period of time (typically for the first 2-3 years after purchasing your life insurance policy).
This waiting period is referred to as a graded death benefit and is certainly the biggest disadvantage associated with purchasing these types of life insurance policies.
Now we know…
That we’ve discussed quite a bit of information here in a very short article, and by no means expect you to become an expert on any of it. All we do hope is that, after reading this article, you have a better understanding of what the “process” of getting approved for life insurance with arteriovenous malformations looks like and that at the end of the day regardless of how “serious” your condition may be, you’ll probably still have options out there!
So, what are you waiting for? Give us a call today or visit our Free Online Life Insurance Quotes page and see what we can do for you!