Finasteride is one of those medications which can, if not properly addressed early during the application process, extend the actual application process and possibly require cause an insurance underwriter to order medical records.
Now is this a major problem?
Probably not, but for those that are looking to get insured as quickly as possible, having to first obtain medical records from your primary care physician can easily add several weeks to the life insurance application process.
Because Finasteride is a prescription medication that can be used to treat several conditions. Primarily, it is used to help treat folks who have been diagnosed with an enlarged prostate. But, it can also be used “on occasion” to help treat hair loss in men.
Neither of these conditions are necessarily going to prevent you from being able to qualify for a traditional term life insurance policy or whole life insurance policy, chance are, if you’re using your Finasteride to treat hair loss, you’re probably NOT going to remember to include this medication when asked by your life insurance agent:
“What prescription medications are you currently taking?”
And if you forget to mention it, your life insurance agent won’t be able to explain to the insurance underwriter early on that your Finasteride is only being used to help prevent hair loss.
Which will likely cause…
Us to have to “stop” the underwriting process and explain to the underwriter your reason for using Finasteride, and could trigger an “automatic” review or your medical records!
Now as for those…
Who are using Finasteride to help treat an enlarged process or benign prostatic hyperplasia (BPH), chances are, when asked if they’ve been diagnosed with any “pre-existing medical conditions” most individuals who are taking Finasteride to treat an enlarged prostate will say “Yes” I have, I’ve been diagnosed with an enlarged prostate.
Which is no big deal…
Only now, we’re going to want to ask you a series of questions pertaining to your enlarged prostate so that the insurance underwriters will feel comfortable with providing you with an offer of coverage. In general, most life insurance companies are going to want to know:
- When were you first diagnosed with an enlarged prostate?
- What medications are you currently taking to treat your enlarged prostate?
- How long have you been taking those medications?
- What is your current PSA level at?
- And have you ever been diagnosed with prostate cancer?
Developing an enlarged prostate as one gets older is generally considered a “normal” part of the aging process for most men, developing an enlarged (abnormal) prostate is also one of the first symptoms one will notice once they’ve begun to develop prostate cancer.
This is why…
Most life insurance companies are going to be very interested in the fact that you’ve been prescribed Finasteride, at least until they are able to “rule out” any possibility that you may also suffer from prostate cancer.
Now the good news…
Is that we here at TermLife2Go work with dozens of different life insurance companies so chances are, regardless of why you’ve been prescribed Finasteride, we should have a life insurance policy that will work of for you.
Even if you’ve been diagnosed with prostate cancer, there’s still a really good chance that we’ll have a policy for you which brings us to another really important factor that everyone who is applying for a life insurance policy whether it is a:
- Traditional term or whole life insurance policy,
- No medical exam life insurance policy,
- Or a guaranteed acceptance life insurance policy,
Not all life insurance companies are the same. They’re each going to have their own unique:
- Product offerings,
- And underwriting criteria.
Which is why it’s so important that before you “simply” apply for a life insurance policy, you become familiar with “why” one life insurance company is “better” for you than another.
The end of the day, what you’re going to find is that there is rarely a “one size” fits all approach to purchasing a life insurance policy.
So, our advice to you…
Is to do a bit of “comparison” shopping before you decide which life insurance company is “right” for you. We can help you do this and while we may not offer EVERY life insurance company in the United States, we certainly offer a BUNCH.
Which means that…
Not only can we help you compare prices of dozens of different life insurance companies instantly, we can also walk you through “our” process of narrowing down “which” insurance companies are going to provide you with the “best” opportunity for success based on our knowledge of their product line and their individual underwriting guidelines.
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!