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Qualifying for Life Insurance with Pulmonary Hypertension
When it comes to understanding what “types” of life insurance policies an individual will be able to qualify for after they’ve been diagnosed with pulmonary hypertension, it “helpful” to understand what pulmonary hypertension is and what affects it can have on one’s body.
Pulmonary hypertension defined:
Pulmonary hypertension is a potentially life threatening medical condition whereby the blood pressure in the arteries between your heart and lungs is elevated.
Now it’s important to…
Understand that pulmonary hypertension is different from traditional or regular hypertension because with pulmonary hypertension, the arteries that we are talking about are very small, and when they become blocked they can produce some serious negative consequences to one’s heart. In fact, pulmonary hypertension can even lead to heart failure.
Now this is usually…
The point in which we like to make it known that we’re not doctors or medical professionals, we’re just a bunch of life insurance agents. So… please understand that if you feel like you may suffer from pulmonary hypertension (or any other medical condition), go see a doctor. All we’re here to do is help education you with regards to how life insurance companies are going to “view” your condition so that you might better understand how to obtain the “best” life insurance policy that you can qualify for.
Good…now with that being said…
Let’s just take a moment and look at what some of potential causes of pulmonary hypertension are:
- Congestive heart failure,
- Blood clots in the lungs,
- Illegal narcotic use,
- Congenital heart defects,
- Various liver disorders,
- Various lung disorders,
- And/or sleep apnea.
Common symptoms that can be associated with having pulmonary hypertension may include:
- Chest pain,
- Shortness of breath,
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Now as you can see…
Most if not all of the causes leading one to develop pulmonary hypertension are conditions in which most (if not all) life insurance companies are going to automatically decline an applicant for a traditional term or whole life insurance policy.
But this is not to say…
That things can’t improve in the future. For example, if the “underlying” root cause of your pulmonary hypertension is “curable” and at some point in the future you no longer exhibit signs or symptoms of pulmonary hypertension, it is “theoretically” possible that you may be able to one day qualify for a traditional term or whole life insurance policy.
Now for these…
“Types” of individuals, we would recommend that you give us a call directly simply because cases like these will exceed the “scope” of this article. For this article, we want to focus our attention on those who have currently been diagnosed with pulmonary hypertension and do not foresee themselves being “cured” of their condition any time soon.
For these “types” of…
Individuals, what you’re generally going to find is that traditional life insurance policies which will require an applicant to be able to “medically” qualify, simply won’t be an option. Instead, applicants who have been diagnosed with pulmonary hypertension will need to consider “alternative” types of life insurance policies which won’t ask any health-related questions or require them to take a medical exam.
The good news is…
That these “types” of life insurance policies do exist, and their called Guaranteed Issue Life Insurance Policies. And, as long as you are:
- Are a US citizen,
- Meet the required age requirements,
- And live in a state where these types of life insurance policies are offered.
You should be eligible for coverage!
The bad news is that…
Guaranteed issue life insurance policies will typically only provide about $25,000 in coverage, they “tend” to cost more than other more traditional types of life insurance policies and they will contain a graded death benefit.
Now you may be asking yourself:
“What’s a graded death benefit?”
Which is a great question so let’s just take a moment and briefly review exactly what a graded death benefit is.
Graded Death Benefit defined.
To put it simply, a graded death benefit is a clause written into guaranteed issue life insurance policies which requires the insured to wait a period of time (usually 2-3 years), before their guaranteed issue life insurance policy will begin covering NATURAL causes of death.
What is a “natural” cause of death?
A “natural” cause of death is a cause of death due to an “illness” based or “internal” based condition. Examples of what are considered “natural” causes of death would include:
- Heart disease,
These natural causes of death would not be covered by a guaranteed issue life insurance policy until the graded death benefit period expired.
What a rip off!
Well, it’s certainly natural to feel this way at least at first, but it’s important to remember that because guaranteed issue life insurance policies aren’t going to require you to take a medical exam or answer any health-related questions, graded death benefit clauses are really the only thing protecting an insurance company from insuring someone simply hours away from dying!
Plus, it’s not all bad…
Guaranteed issue life insurance policies will cover accidental causes of death such as a slip and fall or motor vehicle accident right away. Plus, most guaranteed issue life insurance policies will have some type of “refund” policy should an insured die of natural causes during the graded death benefit period.
This is why…
In addition to researching the “quality” of the insurance company and price of the policy, perspective clients should also compare graded death benefits as well!
But don’t fret…
If all of this sounds super confusing, don’t worry about a thing, this is what we’re here for. You see, here at TermLife2Go, we operate as an independent life insurance brokerage that is able to work with dozens of different life insurance companies.
So, what are you waiting for? Give us a call today or visit our Online Life Insurance Quotes page and see what we can do for you!