Life insurance companies are always interested in a wide array of details regarding any health condition they feel will decrease your chances of living a long life. Asthma is no different. Let’s look at some important things to consider when seeking a life insurance policy with asthma.
Asthma is something which can start very early on, but it can also develop later in life due to health or environmental factors. While the majority of cases of asthma are seen as a low risk for life insurance providers, there are a few exceptions which aren’t so favorable for getting coverage.
There are a number of things we’ll want to know in order to find you the best matched carrier, with the best rates for your particular situation. In addition to what’s listed above:
- When was your first diagnosis for asthma?
- What complications have you had recently?
- Are you taking medication/steroids? If so, how often?
- When were you last hospitalized due to asthma?
- Are you a smoker?
- Are you showing signs of improvement, or is your asthma worsening?
Your answers to these will allow us to put the most accurate description of your asthma together when we request quotes from all the carriers, and the more information we have, the better quote we’ll be able to find for you.
The first concern when applying for life insurance, is to disclose what level of asthma you’re dealing with, and what your history has been in the way of complications or flare ups. Here are the different types:
- Seasonal
- Mild
- Moderate
- Severe
The vast majority of people who have asthma have a seasonal asthma. Different environmental factors, like allergens, cause mild complications, but for most of the year, there are little to no signs or symptoms of having asthma. In this case, you can still receive the best ratings available by most carriers.
If you deal with a mild case of asthma, you’ll still be able to qualify for some of the best rates, even discounted rates above standard premiums. You are considered to have a mild case if perhaps you take medication or use an inhaler, but it’s relatively infrequent. Usually someone who has been hospitalized multiple times due to an asthma attack would not qualify for this level, unless those visits were several years ago and your medical history is clean otherwise.Is your history of asthma causing you to pay a higher rate for life insurance? Learn more about asthma, its impact on life insurance rates, and information on receiving a life insurance quote from asthma life insurance specialists.
According to the Center for Disease Control, asthma or bronchial asthma is defined as a disease that affects your lungs and causes repeated episodes of wheezing, breathlessness, chest tightness, and nighttime or early morning coughing. This wheezing or coughing is caused by a narrowing or constricting of the airways due to chronic inflammation. When this inflammation occurs, the result can be an asthma attack or a tightening of the chest that creates a significant difficulty in breathing. The degree of attacks and relative level of control determine the type and amount of any treatment.
Other related conditions (or other medical terminology) includes Allergies, COPD, Pulmonary Disease, Bronchial Asthma, and Exercise Induced Asthma. Read more below for more information on asthma and asthma related medical conditions as well as information on term life insurance quotes.
If an individual applies for life insurance with a history of asthma, insurance companies will carefully review the medical records to determine the degree of the condition. Of significant importance are the history and significance of attacks, how it is being treated and the response to the treatment. Additionally, diagnostic tests, such as pulmonary function test that measures airflow is key to identifying the severity of the condition. Life insurance companies will normally categorize the degree of asthma into one of 4 classes: Seasonal, Mild, Moderate, and Severe.
Seasonal Asthma – Seasonal asthma generally occurs a few times per year during the changing of seasons. Normally seasonal asthma is caused by pollen or other climate related conditions. Medications may be prescribed until the effects of the changes pass.
Mild Asthma – Mild asthma can be defined as infrequent attacks that do not require hospitalization and can be easily treated with oral medications or inhalers.
Moderate Asthma – Moderate asthma includes more frequent attacks often resulting in an occasional visit to a hospital or emergency clinic for treatment. Moderate asthma normally requires medication including nebulizers, oral medication and occasionally steroid based inhalers.
Severe Asthma – Severe asthma includes frequent disabling attacks requiring regular doctor and hospital visits. It is usually treated with a regimen of medications including steroids.
Every insurance company has their own view on asthma with some offering more competitive rates than others. In most cases, mild asthma can obtain, at worst case, standard rates for life insurance while moderate and severe conditions will likely be charged more based on the significance of the actual medical history. Some of the specific questions insurance companies will ask can be found at the important questions on asthma when applying for life insurance. Asthma can be a complicated condition to treat and manage. And those complications often make living with the chronic disease expensive. Health insurance provides some relief, but only if you have the right plan. Here’s all you need to know about how various US health plans do and don’t cover asthma care. What makes an asthma diagnosis so expensive? Managing it often requires more than a prescription or two. For example, most people with asthma need to use inhalers or similar devices called nebulizers. Many also need to use “peak flow meters” that measure how well their lungs are working. And then there are the numerous tests, vaccines, medicines, and therapies to keep symptoms at bay.
Because of all those costs, health insurance can be a real lifesaver for people who develop this chronic disease.
Or at least it can be if they have the right plan.
Thankfully, most US health insurance plans cover at least some asthma treatments and services. And that includes policies from the Affordable Care Act marketplace or from insurance companies directly. It also includes Medicaid and Medicare coverage.
You’ll about how different policies will and won’t help you pay for asthma care in this article. In particular, you’ll learn how they cover:
- Asthma prevention and diagnosis
- Nebulizers, inhalers, and spacers
- Prescription medications
- Home peak flow meters
- Flu and pneumonia vaccines
- Allergy tests and shots
- Immunotherapy
- Checkups with your doctor or specialist
- Asthma education classes or management programs
You’ll also find answers to these important questions:
- Is it possible to buy health insurance that’s specifically aimed at people with asthma?
- What can you do if you don’t have health insurance, but you have asthma and need to treat it?
- What questions should I ask health insurance companies about asthma coverage?
