Phentermine is a prescription medication that we don’t “knowingly” encounter all that much. This is mainly because it is a prescription medication that is used pretty “sparingly” for individuals who have already been diagnosed with a pre-existing medical condition which may make qualifying for a traditional term life insurance or whole life insurance pretty difficulty.
Phentermine is typically prescribed in combination with a doctor-approved exercise and diet program to help individuals lose weight.
These “doctor approved” programs tend to be pretty strict and are typically reserved for those who have been clinically diagnosed as obese or have been diagnosed with a weight-related medical problem(s).
Or to put it another way…
Your doctor isn’t likely to prescribe you Phentermine if you’re just a few pounds overweight and isn’t likely to prescribe Phentermine if he/she feels that you can achieve your weight loss goals by simply reducing your calories intake a bit!
Which is why…
We probably help a lot of folks qualify for life insurance without actually knowing that they’re currently taking Phentermine, or have been prescribed Phentermine in the past simply because we spend most of our time talking about the “conditions” being treated by the Phentermine rather than the actual prescription itself.
This is because…
In most cases, once the client tells us about their current height and weight ratio or tells us about any pre-existing medical conditions that they’ve already been diagnosed with, we can generally just “skip” over what medications you’ve been prescribed and focus more on how these “pre-existing medical conditions” are affecting your daily health.
Some insurance brokerages may not be equipped to handle more “complicated” applications, we here at TermLife2Go work particularly hard to make sure that we offer a wide a variety of products so that hopefully we’ll have an option for folks that are currently taking Phentermine to control or reduce their weight.
When it comes time to selecting a “type” of life insurance policy, generally you’re going to need to choose between a:
- Tradition term or whole life insurance policy (which will require a medical exam).
- A simplified issue or no medical exam life insurance,
- Or a guaranteed acceptance life insurance,
Now chances are…
If you’re currently taking Phentermine HLC in combination with a doctor-approved weight loss program, you’re probably not going to be able to qualify for a traditional or simplified issue life insurance policy.
This may be because your current body mass index (BMI) is too high, or you’re currently experiencing a medical condition which could make you ineligible for coverage such as uncontrolled:
- Blood pressure,
Or it could be that your weight has forced you to apply/qualify for disability benefits.
Of why you’re currently not eligible, it’s important to note that once you do get your weight under control or once you do rectify the medical conditions that are being caused due to your current weight, there is still a really good chance that you may “become” eligible for coverage in the future.
Which means that…
Even if you’ve been denied coverage in the past, it may make sense to speak with a qualified life insurance agent that has access to many different types of products, because it’s possible that if your health has improved, you could now be eligible for coverage.
And even if you’re not eligible…
Wouldn’t it be nice to have an agent let you know when you “would be” eligible? Wouldn’t it also be nice to know what the “ideal” weight for you would be so that you can set that as your weight loss goal?
We think so, which is why even if you’re not eligible for a traditional term or whole life insurance policy today, we want to make sure that you’ll be aware of when you might become eligible in the future.
We also like to offer a wide variety of guaranteed acceptance life insurance policies for those who simply aren’t able to qualify for a life insurance policy that uses “health” as a requirement for qualifying.
And while it may seem “crazy” to think that there are life insurance companies out there that literally approve any applicant that:
- Is a US citizen,
- Meets the minimum age requirement,
- And lives in state where guaranteed acceptance life insurance policies are offered.
But before you get too excited…
Just remember that guaranteed issue life insurance policies are also going to have some pretty serious disadvantages to them as well. Disadvantages such as:
- Low policy limits,
- Higher “dollar for dollar” premium costs (in most cases),
- And guaranteed issue life insurance policies will contain a graded death benefit which will limit when your guaranteed issue life insurance policy will begin covering your for “natural” causes of death.
For more information about guaranteed issue life insurance policies we would recommend that you give us a call and check out the following article: Top 10 Best Final Expense Policies.
And there you have it, our review of Phentermine and how it will affect your chances at being able to qualify for a life insurance policy. So, what are you waiting for? Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.