Life insurance is oftentimes considered to be an essential component of one’s overall financial plan. This is because life insurance can help you to assure your loved ones that they will still be able to go forward – even in the case of the unexpected.
This is because the proceeds that are received from a life insurance policy can be used for continuing to pay ongoing living expenses, as well as for paying off debt and even for paying the insured’s funeral and other final expenses.
Qualifying for the life insurance that you want or need, though, is not always a given. This is because, when purchasing an individual life insurance policy, the underwriters at the insurance company will want to be sure that you do not post too much of a risk. With that in mind, people with arthritis or who have various health conditions may either be required to pay more for their coverage – or in some cases, they may not even qualify for the coverage at all.
If you have been diagnosed with psoriatic arthritis, then it is still possible for you to get a medically underwritten life insurance policy. However, you may have to do a bit of additional legwork to locate the right policy for you. This can be made much easier – and faster – if you work in conjunction with an independent life insurance brokerage that specializes in higher risk cases. An entity of this type will also usually work with many different insurance companies, as versus only one. In doing so, you will be able to compare the various policies, benefit, and premium quotes. This is where we can help you.
How Having Psoriatic Arthritis Can Affect Your Application For Life Insurance
Psoriatic arthritis is a condition that can cause, swelling, pain and stiffness in and around one’s joints. In addition, it can also cause overall fatigue. There are other forms of arthritis as well, such as rheumatoid arthritis. Some of the most common symptoms of psoriatic arthritis include the following:
- Pain, swelling, and tenderness over the tendons
- Swollen fingers and toes
- Reduced range of motion
- Tiredness and stiffness – especially in the morning
- Changes in the finger and toe nails
- Pain and redness in the eye, which can be similar to that of conjunctivitis
While this type of arthritis will typically affect the joints that are the closest to the nails in the finger and / or toes, it can also produce pain the knees, wrists, ankles, and / or the lower back. In many instances, psoriasis will occur before the joint pain and other issues. Therefore, it is important that if you have been diagnosed with psoriasis, and you begin to also experience pain, to let your doctor know right away.
In fact, in general, it is important to seek treatment as soon as possible if you have psoriatic arthritis. This is because by delaying the management or control of this condition, in just as little as six months, it can result in permanent damage to the joints. Therefore, early treatment can help you with relieving the pain and the inflammation that can be caused, and it can also help you in preventing further joint damage.
What The Insurance Company Will Want To Know
If you have psoriatic arthritis and you are applying for life insurance, there are several steps that you will typically be required to take. First, it is necessary to fully complete an application for coverage. This will ask you questions regarding your:
- Height and weight
- Marital status
- Occupation and income
- Overall health condition and history
- Family health history
- Hobbies and Habits
- Foreign travel
- Other life insurance coverage already in force
You will also likely be asked some or all of the following condition related questions about your psoriatic arthritis:
- When were you initially diagnosed with psoriatic arthritis? Even though it is not possible to reverse joint damage and the other effects of arthritis to the bones and joints, there are ways of being able to manage and / or control this condition. Therefore, if your condition was detected early in the progression, then you may be able to obtain a arthritis life insurance policy rating of Standard.
- Over the past six months, have you had any severe symptoms of psoriatic arthritis? If you have experienced any symptoms such as inflammation, then it could be a sign that the condition is not being properly controlled or managed. In this case, while you may still be able to get medically underwritten life insurance, your coverage may be rated as a Substandard.
- Do you currently take any medication in order to manage or control your psoriatic arthritis? While certain medications may be able to help in temporarily relieving the pain, there are some that can have harmful side effects – particularly if they have been taken over a long period.
- Over the past year, have you had any relevant diagnostic testing performed that was related to your psoriatic arthritis condition? If you have recently had any relevant lab tests performed, then it is possible that the life insurance underwriters will want to review the results, as this can help to provide them with a clearer picture of your overall condition.
- Do you regularly meet with your doctor or other medical professional regarding your psoriatic arthritis condition? Having regular visits with your doctor or other medical professional can be a positive signal to the insurance underwriters that you are working to manage or control your condition.
You will also likely be required to undergo a medical examination as a part of the life insurance underwriting process. During this exam, you will meet for approximately 30 minutes with a paramedical professional. This individual will ask you some additional health-related questions. They will also take a blood pressure and heart rate reading, as well as a blood and urine sample.
After all of your information has been received by the insurance company, the underwriters will be better able to determine your health condition, as well as to decide on the policy’s approval and the appropriate rate of premium to charge.
How Much Does Life Insurance Cost If You Have Psoriatic Arthritis?
There are many different factors that will go into the premium price of a life insurance policy. These will include:
- Type of life insurance being purchased
- Amount of coverage
- Overall health condition
The price of life insurance can also be dependent on the insurance carrier that you purchase the policy through. Even for the very same policy, the premium price can differ – in some cases, significantly. That is why it is essential to compare several life insurance policies before you make your final purchase.
What Should You Do If You Don’t Qualify For Traditional Life Insurance Protection?
If you are unable to qualify for a regular, medically underwritten life insurance policy due to your health condition, it does not mean that you will have to go without life insurance altogether. Rather, you can apply for a no medical exam life insurance policy.
A no medical exam policy will not require that you meet with a paramedical professional for the purpose of a medical exam – which in turn, means that you will not be required to submit a blood or a urine sample.
Applicants who apply for no medical exam life insurance can oftentimes have an easier time qualifying – even though the premium that is charged for this type of coverage is often more than that of a comparable medically underwritten life insurance policy.
How To Find The Best Premium Rates On Life Insurance With Psoriatic Arthritis
If you have been diagnosed with psoriatic arthritis and you are in the process of seeking a life insurance policy, we can help you. We are an independent life insurance brokerage, and we work with many of the top life insurance carriers in the marketplace today. We can work with you in obtaining all of the key details that you will need for making a well-informed life insurance purchasing decision. And, we can do so for you quickly and conveniently from your home computer. Oftentimes, you will be able to compare quotes in just a matter of minutes – or less. If you are ready to proceed, then just simply take a moment to fill out the form on this page.
Should you find that you have any additional questions about getting life insurance with psoriatic arthritis – or, even if you just happen to have a question or a concern about life insurance in general – please feel free to contact us directly, toll-free, by dialing 800-277-3098.
We understand that purchasing life insurance when you have an adverse health issue may seem to be a bit daunting – especially if you have been turned down for coverage in the past. But today, there can be many coverage options that are available to you. So, contact us today – we’re here to help.