Life Insurance Options For Rheumatoid Arthritis Patients

If you have rheumatoid arthritis, you may be wondering if you can get life insurance. The answer is yes, you can. However, the availability of life insurance and the amount you will spend on it depend on the severity of your condition. Life insurance underwriters will look at several factors when analysing your application, including your medical history, prescription drug history, and any other material information such as criminal history. They will also consider specific factors related to your rheumatoid arthritis, such as the date of diagnosis, medication taken, any deformities, frequency of flare-ups, and body parts affected. It is important to note that the type of medication you take can impact how life insurance companies view your application, as some drugs are considered red flags. Overall, while life insurance is available to those with rheumatoid arthritis, the cost may be higher and the options may be more limited compared to those without the condition.

Life insurance approval with rheumatoid arthritis

It is possible to get life insurance approval with rheumatoid arthritis (RA). However, the options available and the amount spent on life insurance depend on the severity of the condition. The availability of life insurance for people with RA also depends on the insurance company, as each company assesses risk differently.

Factors Affecting Life Insurance Approval with RA

When applying for life insurance with RA, insurance companies will want to know specific facts about the condition to calculate the risk. Here are some factors that may affect the approval process:

• Date of diagnosis: The longer the treatment time, the more risk is associated with the condition.
• Frequency and duration of flare-ups: More frequent and longer flare-ups increase the risk of joint and body damage.
• Deformities and disabilities: The presence of deformities or disabilities can affect the ability to live independently and perform daily tasks.
• Affected body parts: The number and type of joints affected, such as hands, feet, shoulders, elbows, and hips, can impact the severity of the condition.
• Medications: The type and amount of medication taken can indicate the severity of RA and may have side effects that insurers consider.
• Other health conditions: Smoking, alcohol consumption, diet, exercise, and other health conditions can also impact the insurance premium.

Types of Life Insurance for People with RA

There are several types of life insurance options available for people with RA:

• Traditional Life Insurance: This is usually the best option for mild to moderate RA. It offers large benefit amounts but has stricter underwriting requirements.
• Graded Benefit Life Insurance (GBLI): This is the next best option if traditional life insurance is not available. It works best for moderate to severe RA and has more lenient underwriting. However, the benefit amount is typically capped at $50,000, and premiums are higher than traditional life insurance.
• Guaranteed Issue Life Insurance (GI): This is considered the last resort for severe RA cases. There are no health questions asked, and it offers a benefit amount of up to $25,000. The premiums are higher than traditional and graded benefit life insurance.

Tips for Applying for Life Insurance with RA

When applying for life insurance with RA, it is important to:

• Work with an independent agent: An independent agent has access to multiple insurance companies and can help find the best policy for your specific condition.
• Document your RA history: Organize information about your diagnosis date, flare-ups, medications, deformities, disabilities, and affected body parts.
• Prepare for the medical exam: Stay hydrated, schedule the exam for early morning, avoid caffeine and nicotine, and get a good night's rest prior to the exam.

In conclusion, while life insurance approval with RA may be more complex, it is possible to find insurance options that fit your needs. The key is to be prepared, inform yourself, and work with an expert who understands your specific condition.

Factors affecting life insurance premiums

Life insurance companies use underwriting to assess how much risk you pose. RA is one factor in determining the cost of your life insurance policy. Your premiums (the amount you pay in exchange for coverage) are influenced by the following:

Date of Diagnosis

The longer you've had RA, the higher your risk of joint and tissue damage, and the more your life insurance premiums will be.

Flare-ups

The duration and frequency of flare-ups impact the amount of inflammation in your body. The more frequent the flare-ups, the higher the risk of joint and tissue damage, which will increase your premiums.

Deformity

The type and severity of deformity caused by RA will impact your ability to live an independent and active life. A severe deformity will negatively affect your life insurance premiums.

Disability

If you are unable to work or live an active lifestyle due to an RA-related disability, your life insurance rates will be higher.

Medications

Certain RA medications are considered "red flags" by life insurance carriers. They are concerned about potential negative side effects, even if your rheumatologist has determined that the benefits of the medication outweigh the risks.

Parts of the Body Affected

The more parts of your body affected by RA, the higher the risk you pose to life insurance companies. If RA has affected major organs, such as your heart or lungs, your premiums will be higher.

Family Medical History

Life insurance companies will ask about your family's medical history to determine if you are at a higher risk for certain health conditions.

Lifestyle Choices

Your lifestyle choices can impact your life insurance premiums. Underwriters will ask about your occupation, risky hobbies, and lifestyle habits such as diet and exercise.

It's important to note that even with rheumatoid arthritis, there are always life insurance options available. An independent life insurance agent can help you find the best policy for your specific needs and circumstances.

Types of life insurance available

Yes, you can get life insurance if you have rheumatoid arthritis (RA). Here are the types of life insurance available:

Traditional Life Insurance:

This is usually the best option for those with mild to moderate rheumatoid arthritis. It offers large benefit amounts but has stricter underwriting requirements. It is a fully-underwritten policy, meaning it requires a medical exam and is often the most cost-effective option.

Graded Benefit Life Insurance (GBLI):

This is the next best choice if you are declined traditional life insurance. GBLI is suitable for moderate to severe rheumatoid arthritis. The benefit amount is typically capped at $50,000, and it has more lenient underwriting with some health questions asked. There is a waiting period of 2-3 years for the full benefit, and premiums cost more than traditional life insurance.

Guaranteed Issue Life Insurance (GI):

Considered the last resort, GI is an option if you cannot secure traditional or graded benefit life insurance. It is designed for individuals with severe rheumatoid arthritis, with benefit amounts typically capped at $25,000. It has the most lenient underwriting, with no health questions asked, and premiums are higher than those of traditional and graded benefit policies.

No Exam Life Insurance:

This type of life insurance does not require a medical exam, making it an option for individuals with RA who may have difficulty obtaining coverage through traditional means. However, it is important to note that no-exam life insurance policies may have higher premiums or limited benefits compared to traditional policies.

It is important to note that the availability and cost of these life insurance options can vary depending on the severity of your RA, your overall health, age, family medical history, and lifestyle choices. Consulting an independent agent who specializes in RA can help you navigate the different options and find the most suitable policy for your needs.

Life insurance application process

The life insurance application process can be lengthy and detailed, but it's important to be thorough to ensure you get the best policy for your circumstances. Here is a step-by-step guide to the life insurance application process:

• Select a Policy Option: The first step is to choose the right life insurance policy for your needs. Consider the length of the policy term and the death benefit amount. Seek advice from a reputable insurance professional to ensure the policy meets your needs.
• The Application Process: Review life insurance quotes and submit an application request. A licensed representative will help you complete the application, which includes health and lifestyle questions, as well as a discussion about family history. Be prepared to answer questions about your health, lifestyle, and family medical history. The application process may also involve a medical exam.
• Premium Payment: Premium payment is usually not required with the application. However, some companies may offer temporary coverage during the underwriting period for an additional cost.
• Policy Replacement: Consumer protection laws require insurance companies to determine if a replacement policy is necessary. If so, additional forms must be completed.
• Paramedical Exam: Most life insurance policies require a paramedical exam conducted by a registered nurse. The exam includes blood and urine samples, blood pressure readings, height and weight measurements, and a questionnaire. Following certain guidelines before the exam, such as fasting and avoiding stimulants, can help ensure more accurate results.
• The Underwriting Process: Underwriters review your application, medical exam results, and additional information to assess the risk and determine your health class and premium rates. This process can take 3-6 weeks, depending on how quickly the required information is supplied.
• Policy Delivery: Once the underwriter approves your application, your life insurance policy will be issued and sent to you for review. You will have the opportunity to accept the terms of the policy and complete any necessary delivery requirements.

It's important to be honest and accurate when completing the life insurance application, as providing false or misleading information could result in a denial of coverage or benefits.

Life insurance brokers

When it comes to life insurance, RA is considered a pre-existing condition that can impact the cost of premiums and the ability to qualify for coverage. Life insurance companies will want to know specific facts about a client's RA to calculate their risk. This includes the date of diagnosis, the duration and frequency of flare-ups, any deformities or disabilities caused by RA, the parts of the body affected, and any medications the client is taking.

The more risk a client poses, the higher their premiums will be. If the risk is considered too high, the client may be declined for traditional life insurance. However, it's important to note that there are always life insurance options available, even for those with RA. Alternative options include graded benefit life insurance and guaranteed issue life insurance.

To get the best rates, it is recommended to work with an independent life insurance agent who has access to multiple carriers and can find the most competitive price for the client's specific situation.

• Date of diagnosis: The longer the treatment time, the more risk the client poses.
• Frequency of flare-ups: More frequent flare-ups mean a higher risk of joint and body damage.
• Deformities: The presence of deformities, especially in major joints such as shoulders, elbows, and hips, will increase the client's risk classification.
• Disabilities: If RA has resulted in a disability that affects the client's ability to work, live independently, or perform daily tasks, this will impact their premiums and may result in a decline for traditional life insurance.
• Medications: The type and amount of medication play a part in underwriting. Some medications, such as steroids, methotrexate, and prednisone, are considered higher risk and will likely affect the client's rates.
• Other health conditions: Any other health conditions or hazardous lifestyle choices, such as smoking, excessive alcohol consumption, or being overweight, can also impact the client's ability to obtain life insurance and the cost of premiums.

Frequently asked questions