Now it’s pretty safe to say that we don’t typically get that many calls from folks who are worried about whether or not their prescription for Restasis is going to affect their life insurance application.
In fact, what we usually find is that the only time that we actually end up discussing Restasis during a life insurance application is when an applicant who is “really” nervous and eager about getting the best possible life insurance rate available, a Preferred Plus and isn’t thrilled that they actually have to “admit” that they’re taking any prescription medications at all!
On nearly every traditional term and whole life insurance application, there will be a questions asking about whether or not you’re using any prescription medications. And for folks who are only using a medication like Restasis that is simply used to treat chronic dry eyes, the idea of having to state that they are using Restasis is upsetting to them because they don’t want its use to prevent them from qualifying for the best possible rate available.
Just relax, being diagnosed with chronic dry eye, and simply using Restasis to treat it, isn’t going to hurt the outcome of your life insurance application. Or put another way, if you’re otherwise eligible for a Preferred Plus rate class, using Restasis shouldn’t be an issue.
With that said however…
It’s important to understand that only about 20% of the population is actually able to qualify for a Preferred Plus rate class so why don’t we just take a moment to review just a few of the most common life insurance application questions so that you can get a better idea of exactly what type of information life insurance companies like to use to determine what rate class someone will qualify for.
Common life insurance application questions:
- How old are you?
- What is our current height and weight?
- Have you been diagnosed with any pre-existing medical conditions?
- Have you ever suffered from a heart attack, stroke, cancer or diabetes?
- Has any of your immediate family members ever been diagnosed with cancer, heart disease, stroke or diabetes?
- In the past 12 months have you used any tobacco or nicotine products?
- In the past 12 months have you used any marijuana products?
- Other than Restasis, are you taking any other prescription medications?
- Do you have any issues with your driving record? Such as a suspended license, multiple moving violations or DUI’s?
- Do you have any set plans to travel outside of the United States in the next 2 years? Seems like a weird question, but if you have a “summer” home in Syria or North Korea, insurance companies will want to know about it.
- Do you participate in any dangerous hobbies or activities such as sky diving, hang gliding, bungee jumping, etc…
- In the past 2 years have you filed for or applied for bankruptcy? Here’s another weird one, but since there is a major life insurance company that will discriminate against those that have, we like to ask so that we “rule” them out as an option if you have.
- Are you currently working now?
- In the past 12 months have you applied for or received any form of disability benefits?
Now as you can see…
The insurance companies are going to ask a lot of different questions that will focus both on health and lifestyle risk factors. Now the good news is that not all life insurance companies have the same rules and regulations that they used to determine who they feel will make a good “risk” for life insurance.
Which means that…
It’s quite possible what you end up paying for life insurance could vary significantly simply due to which insurance company you choose to apply with. This is why we here at TermLife2Go have chosen to remain and independent life insurance brokerage that is able to work with dozens of different life insurance companies so that when it comes time for you to choose which life insurance company is going to be the best for you, you’re going to have a ton of options!
So what are you waiting for? Give us a call today at see what we can do for you!
Lastly, for those who would like to get an idea about how much their life insurance might cost before actually speaking with one of our agents, we would recommend that you visit our quoter page: Whole Life Insurance Quotes when you get a chance.
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.