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Life Insurance with Hepatitis
Most medical conditions can make applying for life insurance more difficult. Your health is a big factor in determining both if you qualify for life insurance and what the cost will be.
If you have hepatitis you probably have questions around the cost of life insurance and if you can qualify. In this article we will cover the following questions:
- Can I get life insurance with hepatitis?
- What will life insurance cost me if I have hepatitis?
- What is the process of applying for life insurance with hepatitis?
- What do I do if I have been denied life insurance coverage due to hepatitis?
Can I get life insurance with hepatitis?
Yes, you can still qualify for life insurance with hepatitis.
The life insurance company will most likely want to know more about your hepatitis such as what type, how long ago you were diagnosed, and what prescriptions you are currently taking. They use those questions to learn more about your unique situation so they can better determine if you qualify and how much you will pay.
How much does life insurance cost with hepatitis?
When evaluating your cost for life insurance the insurance company will take your age, health, gender, lifestyle and more into consideration.
If you have a more mild form of hepatitis and that easy to manage you will most likely qualify for a cheaper rate than those who have a more severe case of hepatitis.
Your health is definitely a big factor in determining your costs. The other things that can affect how much you will pay for life insurance is the type you choose and how much coverage you need.
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What is the process to apply for life insurance?
The process for applying can be slightly different depending on the type of policy you choose.
- Traditional life insurance with full underwriting
- No exam policy
- Guaranteed issue policy
Fully underwritten is a term used by life insurance companies to mean you will go through a more in-depth process to determine your cost and eligibility for life insurance.
With a fully underwritten policy you will be required to take a life insurance medical exam. In this process an examiner will typically come to your home to check your height and weight. They will also take a blood and/or urine sample. They also have the ability to request your medical records and see a list of current or previous prescriptions. The life insurance company will then use this information combined with the application to determine whether you qualify and how much you will pay for a policy.
No exam life insurance policies are also an option if you are worried about the medical exam. These types of policies allow you to skip the exam, though you will most likely be asked to fill out a health questionnaire. The company will use information from the questionnaire along with the application to determine whether you qualify and how much you will pay for a policy.
A guaranteed issue policy is quick and easy. It is guaranteed issue so everyone within the required age bracket will qualify for this coverage. It won't take health information into consideration. While this can be a good option if you have a severe case it is important to note that the coverage amounts for this type of policy are much lower than they are for a traditional or no exam policy.
What if I have already been denied coverage due to hepatitis?
Finding the right life insurance company can make a big difference in whether you qualify for life insurance. If you have been denied coverage from one company you still have the ability to submit your application to other companies and go through their process.
Knowing the right company for hepatitis up front can help you avoid getting denied for coverage. Need help finding the right company? Give us a call today to get in touch with a life insurance agent. We can help guide you through the process and provide you with quotes from multiple companies.