When it comes to helping folks, who have been prescribed Baclofen (Gablofen, Lioresal) find and qualify for a traditional term life insurance or whole life insurance we’re going to need to avoid jumping to an “immediate” conclusions.
This is because…
Baclofen is a prescription medication that is typically used to treat muscle spasms suffered by individuals who have been diagnosed with a serious pre-existing medical condition like multiple sclerosis or a spinal cord injury/disease such as paraplegia.
Neither of these conditions will immediately cause an insurance company to deny your life insurance application, they are certainly going to complicate the process! But don’t fret…
Here at TermLife2Go, we don’t “shy” away from some of the more “challenging” situations because for us, since we offer so many different life insurance products offered by so many different life insurance companies, it really just comes down to us better understanding what you hope to “achieve” by purchasing your life insurance policy and then comparing your goals and current medical condition with the various insurance companies underwriting guidelines that we offer.
Why do you want to purchase a life insurance policy? Are you looking to:
- Protect a spouse or a child?
- Cover the cost of a mortgage?
- Insure against any potential lost wages as a result of dying prematurely?
- Or are you just looking to cover one’s own final expenses?
Once we know the answer to this question, we’ll generally know what types of questions we need to ask about your current health condition which will be applicable to the “type” of insurance you’re looking for.
If you’re just looking for a policy that will provide enough life insurance to cover one’s burial expenses, chances are we may be able to pursue a guaranteed acceptance life insurance which won’t require you to take a medical exam or answer any health-related questions!
That said however…
If you looking for more than just a burial life insurance policy, chances are you’re going to need to take a medical exam and answer a series of health-related questions in order to be able to qualify.
Common questions you’ll likely be asked will generally include:
- What is your current height and weight?
- Why have you been prescribed Baclofen?
- When were you first prescribed Baclofen?
- Are you taking any other prescription medications?
- If you suffer from a spinal condition, how did it occur?
- If you suffer from multiple sclerosis:
- Have you ever been hospitalized for your condition?
- When was your last MS attack?
- How many attacks have you had in the last 12 months?
- What does your current treatment program consist of?
- How well is your current treatment plan working?
- In the past 12 months have you used any tobacco or nicotine products?
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
From here, we’ll generally have a pretty good idea about what “type” of life insurance policy that you’ll be able to qualify for as well as what “rate” you will likely be expected to pay.
Now as a…
General “rule of thumb”, what we have found here at TermLife2Go, individuals suffering from a spinal injury will usually only be able to qualify for a Table D life insurance rate, while those suffering from multiple sclerosis may be able to qualify for a Table A rate.
What is a table rate?
A table rate is a life insurance rate that falls below a Preferred or Standard life insurance rates and is typically reserved for “higher” risk applicants. In total, there are 10 possible table rates that an individual can qualify for ranging from Table A (the best and least expensive table rate) all the way to table J (the worst and most expensive table rate).
Now it’s important…
To remember, that “any” table rate beats getting denied insurance so we don’t want anyone to get too upset because they can only “earn” a table rate. Especially if after applying for coverage an individual earns a Table J. Because after all, Table J still means that you can qualify!
Because we already know that you’re likely to only be able to qualify for a Table Rate once you’ve been prescribed Baclofen, we here at TermLife2Go are already looking to see which insurance companies are going to offer the best pricing at these “rates”.
You have access to dozens of different insurance carriers to choose from even though you may not be able to qualify for a Preferred Plus rate, that doesn’t mean that you’re not going to be able to find an affordable option out there.
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.