In this article, we want take a moment and help shed some light on what the process of applying for life insurance policy will look like for someone that has been diagnosed with myelofibrosis.
Even for the most “healthiest” amongst us, applying for a traditional term or whole life insurance policy can be tricky. Then add a pre-existing medical condition like myelofibrosis, and things can become down right impossible!
And the worst part…
Is that often times, individuals who are suffering from a pre-existing medical condition like myelofibrosis won’t be provided with the information that they need to not only understand “why” life insurance companies make the decisions that they do, but also the information that can help them make an informed decision to help protect the financial security of their loved ones.
If you’re seriously considering purchasing a life insurance policy for you or a loved one who has been diagnosed with myelofibrosis, keep on reading. But be prepared, we may not give you the answer that you’re looking for, but we certainly going to try to give you the information that you’ll need to find the “best” life insurance policy that you can qualify for.
To begin our discussion, it only makes sense to first discuss exactly what myelofibrosis is and why life insurance companies are so concerned about it.
So, what is myelofibrosis?
Myelofibrosis is a very serious cancer that affect one’s bone marrow thereby disrupting the natural and normal production of blood cells in the body.
As a result of the disorder, the natural spongy bone marrow typically found within the body becomes scarred leading one to begin suffering from:
- Weakness and fatigue,
- Easy bruising,
- Excessive sweating at night while sleeping (night sweats),
- Shortness of breath,
- And an enlarged spleen.
In over 90% of all myelofibrosis cases, the cause is believed to be due to a genetic mutation or change in one of three possible genes (JAK2, CALR or MPL). Why these genes suddenly begin to mutate is anyone’s guess at this time, it could be because of an exposure to some type of toxic chemical or radiation or it could simply be a random genetic error, nobody knows for certain at this time.
What is known is that there does not seem to be any genetic link so you shouldn’t be at risk for passing the disease to a child.
Treatment for myelofibrosis will usually depend on “what” symptoms are currently being experienced. Which means that if you currently don’t show any signs of anemia, in theory, you may not need any treatment at all.
However, you will want to be sure that you do receive regular checkups and exams to be sure that you don’t become anemic. Additionally, it’s quite possible that if you aren’t currently suffering from any symptoms from your myelofibrosis that you may continue to not experience any symptoms for years to come!
Now for those that are…
Suffering from symptoms, recent advancements in stem cell therapy have begun to show promising results by transplanting allogeneic stem cells from a suitable donor into the infected bone marrow which at this point has the “potential” to be able to one-day cure someone’s myelofibrosis.
Now at this point…
We usually like to remind folks that we here at TermLife2Go are not medical professionals, and we’re certainly not doctors. So, if you have any specific medical questions you’d like to get answered, well, we’re the last ones you’d want to ask.
All we are…
Is a bunch of life insurance agents who happen to be really good at helping folks with pre-existing medical conditions find quality life insurance policies that they can qualify for!
We’ve mentioned some really fantastic advancements when it comes to new stem cell therapies, it’s important to remember that life insurance companies are designed to minimize risk. Which is why, you’re going to find that it’s going to be really difficult to qualify for a traditional term or whole life insurance policy.
To the best of our knowledge, we are not aware of any life insurance company that will insure someone who has been diagnosed with myelofibrosis. That said however, if you have been diagnosed and been able to demonstrate that through stem cell therapy that you no longer suffer from myelofibrosis, we would be happy to “submit” your life insurance application to multiple insurance companies to see if their underwriting guidelines have changed.
And if not…
Well then, we need to take a look at some “alternative” insurance products that won’t require you be have to “medically’ qualify for them. Alternative products such as an accidental death insurance policy or a guaranteed life insurance policy.
Now in this article…
We don’t want to spend too much time discussing Accidental Death Policies (even though we feel that they have “value” in certain situations), because most of our clients aren’t looking for an “ACCIDENT” insurance policy, they’re looking for “LIFE” insurance policy!
So, if you would like to learn more about accidental death insurance products feel free to check out this article: Accidental Death Insurance, Pros-Cons or simply give us a call.
With that said, let’s now turn our attention to Guaranteed Life Insurance Policies.
Guaranteed Issue Life Insurance Policies.
Guaranteed issue life insurance life policies are life insurance policies that you don’t have to be healthy to qualify for. In fact, guaranteed issue life insurance policies aren’t going to ask you any medical questions or require you to take a medical exam.
There really are only three things that are going to matter when it comes time to purchasing a guaranteed issue life insurance policy:
- Are you a US citizen?
- Do you live in a state where guaranteed issue life insurance policies are offered?
- And do you meet the minimum age requirements for applying?
If you meet these three criteria, you should “theoretically” be eligible.
But just because…
You can purchase a guaranteed issue life insurance policy doesn’t mean that you should purchase a guaranteed issue life insurance policy. You see, these “types” of life insurance policies will have their potential disadvantages that you should be aware which include:
- Low policy limits.
- A “bit” pricey for the amount of coverage being purchased.
- And guaranteed issue life insurance policies will contain a graded death benefit which will place limitations on when your life insurance policy will begin covering your for “natural” causes of death.
Now we know…
That we’ve gone over a ton of information here, and we certainly don’t expect you to become an expert on anything that we’ve mentioned, all we hope is that after reading this article you have a better understanding that even though you’ve been diagnosed with Kaposi’s sarcoma, you still may be eligible for insurance and that with the help of an insurance brokerage like TermLife2Go, finding that coverage shouldn’t be impossible!
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!
Because we’ve been doing this awhile here at TermLife2Go, we know that a lot of times when you suffer from a condition like Kaposi’s sarcoma, you’re not really able to work and may not have a ton of discretionary income, especially if you’re currently receiving SSI disability.
This is why…
We’ve chosen also to write an article The Best Money Making Apps to help those who may not be able to actually go to work every day find ways that they can make money from home, on their own time.
Now will you end up using this money to help finance a life insurance policy?
Who knows, but our ultimate goal here at TermLife2Go is to help improve the financial security of our clients so it is our hope that this article and our Best Money Making Apps article helps you do this.