Wading through hundreds of carriers to try and find the best life insurance companies for clients with COPD can be exhausting. Instead, let the pros at TermLife2Go do the hard work for you. Give us a call today to see how we can help you find life insurance with chronic obstructive pulmonary disease.
Life Insurance with Chronic Obstructive Pulmonary Disease (COPD)
If you have COPD then there are three important questions you need to ask are:
- Can I get life insurance with COPD?
- What will it cost of life insurance with COPD?
- What is the process of being approved for life insurance with COPD?
Let’s begin with a brief overview.
Chronic obstructive pulmonary disease (COPD) consists of two main forms, chronic bronchitis, which involves a long-term cough with mucus and Emphysema, which involves destruction of the lungs over time.
The quick answer is, YES.
To determine your rate class the life insurance carrier would want to know:
- What age you were diagnosed
- Is your COPD due to asthma, chronic bronchitis, or emphysema
- What medications you take
- Do you use tobacco or nicotine products
- Electrocardiographic (ECG) findings
- Have you been hospitalized for COPD
If you have severe COPD, or if you use nicotine, then you would want to consider a burial life insurance policy from one of the best burial and final expense insurance companies, where there is no exam and no health questions
Most well controlled clients will qualify for a rate class slightly below standard, typically a Table B or Table 2.
A well controlled client does not use tobacco products and his or her condition stays controlled by the use of medication, with no recent hospital visits.
If you have moderate COPD you will receive a substandard rate class or be declined for a fully underwritten life insurance policy.
If you have previously been declined, or have severe COPD or Emphysema, then your best route would be to look into a guaranteed issue life insurance policy where there is no exam and no health questions.
If you are curious what your price tag would be, simply enter your information and see what the price is for your age and gender based on the above rate class you believe you qualify for.
A fully underwritten life insurance policy requires a life insurance medical exam. The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.
The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all life insurance carriers are the same when it comes to underwriting Chronic Obstructive Pulmonary Disease!
Not all life insurance carriers are the same.
The life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers.
As a consumer, it is in your best interest to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different COPD friendly life insurance companies available, including the best senior life insurance companies. Only by doing this can you ensure that you are getting the best policy tailored to your specific needs.