Life Insurance And Arthritis: What You Need To Know

Life insurance is available for people with arthritis, and it can also be budget-friendly. Arthritis is not life-threatening, so it usually isn't a problem to get life insurance. However, insurers will want to know about the type of arthritis, the severity of symptoms, and how it impacts daily life. They will also want to know about medications and treatments. It is important to disclose arthritis when applying for life insurance, especially if it affects daily life.

Life insurance approval when you have rheumatoid arthritis (RA)

If you have rheumatoid arthritis, it is crucial to understand the condition and how life insurance carriers view it when making an informed decision about your life insurance policy.

Yes, regardless of the severity of your rheumatoid arthritis, there will be a life insurance policy available to you. However, the type of policy and size of the benefit can be limited by the severity of your RA, your overall health, and lifestyle.

Life insurance carriers 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 your health, family medical history, and lifestyle choices.

Specific to rheumatoid arthritis, life insurance companies will want to know:

• The date of your diagnosis – as a chronic condition, the longer you have had RA, the more risk you pose for damage to your joints and organs.
• The duration and frequency of RA flare-ups – the more frequent and longer-lasting your flare-ups, the higher the risk of joint and tissue damage.
• Deformity – the type and severity of deformity, and which joints are affected.
• Disability – the inability to work or live independently due to RA negatively affects your life insurance rates.
• Medication – some RA drugs are considered “red flags” by life insurance carriers.
• Parts of the body affected – joint damage, bone erosion, and organ involvement negatively impact life insurance underwriting.

• Traditional Life Insurance – usually your best option for mild to moderate rheumatoid arthritis. It offers large benefit amounts but has stricter underwriting.
• Graded Benefit Life Insurance (GBLI) – often your next best choice if you are declined for traditional life insurance. It works best for moderate to severe rheumatoid arthritis, with benefit amounts typically capped at $50,000. It has more lenient underwriting and costs more than traditional life insurance.
• Guaranteed Issue Life Insurance (GI) – considered the last resort if you cannot secure traditional or graded benefit life insurance. It works best for severe rheumatoid arthritis, with benefit amounts typically capped at $25,000. It has lenient underwriting, with no health questions asked, and costs more than the other two options.

How RA affects life insurance

Life insurance companies will want to know some specific facts about your rheumatoid arthritis (RA) to calculate your risk. The more risks you pose, the higher your premium will be. Here are some of the factors that will affect your life insurance coverage and premiums:

Date of Diagnosis

The longer you have been in treatment, the more risk you pose. RA symptoms usually progress over time. The date of diagnosis will also determine the duration of the disease, which is a factor in the higher mortality risk for those diagnosed with RA.

Flareups

How often flareups occur and how long they last will impact the amount of inflammation in your body. More flareups mean more risk for joint and body damage.

Deformity

The type and severity of deformity will impact your ability to live an independent and active life. Deformities in the hips or knees that require walking sticks or a wheelchair will result in a severe classification and a significant increase in your premium.

Disability

The inability to work due to an RA disability will negatively affect your life insurance rates. If you are unable to carry out daily activities without assistance, you may be classified as having severe RA.

Medications

The type of drugs you are on to manage your RA will serve as an indicator to the insurance company of the severity of your condition. Some medications carry greater risks and are more likely to have side effects, which will be red flags to insurance carriers.

Parts of the Body Affected

Joint damage, bone erosion, and organ involvement will negatively impact life insurance underwriting. If RA symptoms move beyond your joints to the heart, skin, eyes, and lungs, most insurers will increase your premiums or even refuse cover altogether.

Overall Health and Lifestyle

Aside from RA, your overall health and lifestyle will impact the type of policy and size of the benefit you will be approved for. Major medical conditions, family medical history, smoking, and excessive alcohol consumption will increase your premium.

Type of Policy

The type of life insurance policy you choose will depend on the severity of your RA. Traditional life insurance is usually the best option for mild to moderate RA, while graded benefit life insurance and guaranteed issue life insurance are better suited for moderate to severe and severe RA, respectively.

Life insurance medical exams

Before the Exam

You'll be asked questions about your medical history during a phone interview before the exam, and these details will be reviewed again in person. It's a good idea to have the following information on hand:

• Names and dosages of medications for past and current conditions.
• Names, addresses, and contact information of doctors visited in the past five years.
• List of medical conditions, dates of diagnoses, treatments, treatment outcomes, and treating physician contact information.
• Your driver's license number and expiration date.

During the Exam

The examiner will record your height, weight, pulse, and blood pressure. You will likely be asked to provide a urine sample and a blood sample to test for health issues such as elevated cholesterol or blood sugar levels, and to screen for drug use. If you're over 50 and applying for a high amount of coverage, you might also need to take an electrocardiogram (EKG). This procedure involves placing electrodes on your body to record your heart's electrical activity and is painless. For this test, it's recommended to wear loose-fitting clothing.

In some cases, insurers might also require an X-ray or treadmill stress test, which needs to be done at a doctor's office or clinic. If you're 70 or older, additional cognitive ability testing may be required.

After the Exam

You can request a copy of your medical exam results once the underwriting process is complete. These results can be shared with your regular medical provider to ensure they have a comprehensive view of your health.

Preparing for the Exam

It's important to prepare for your medical exam to ensure the best results. Here are some recommendations:

• 24 hours before the exam: Limit salt and high-cholesterol foods, and avoid over-the-counter medications such as antihistamines and nasal decongestants.
• 12 hours before the exam: Refrain from alcoholic beverages and strenuous exercise, which can elevate blood pressure.
• One hour before the exam: Avoid caffeine and nicotine, and drink a glass of water to stay hydrated for the blood test.
• At the exam: Bring a photo ID and application paperwork. Wear short sleeves or sleeves that can be easily rolled up for bloodwork and blood pressure measurements.

Additionally, some exams may require fasting, so be sure to ask if you need to abstain from eating and drinking anything except water for a specified period before your exam.

Critical illness cover

When it comes to arthritis, critical illness cover can provide financial support, but it is important to understand the different types of arthritis and their varying levels of severity. Insurers will assess your condition and may offer different payout amounts depending on the severity of your arthritis and its impact on your daily life.

Types of Arthritis

There are several types of arthritis, including osteoarthritis, rheumatoid arthritis, psoriatic arthritis, and gout. Each type has different degrees of severity, and not all insurers may cover all types. Therefore, it is essential to carefully review the terms of your critical illness cover policy to determine which types of arthritis are included.

Insurer's Assessment

Insurers will typically investigate your arthritis condition thoroughly before providing a quote or determining coverage. They will consider factors such as the type of arthritis, the degree of pain and limitation you experience, the duration of your condition, and any medications you take. They may also assess your symptoms, treatment, and any resulting disabilities to classify your condition as mild, medium, or severe.

Payout Considerations

The payout you receive under critical illness cover for arthritis will depend on the specifics of your policy and the insurer's assessment of your condition. Some insurers may offer a full payout if you are unable to perform a certain number of daily activities due to your arthritis. Others may provide a partial payout based on the percentage of activities you cannot perform.

Additionally, the type of medication you are taking can also impact the insurer's classification of your condition and, consequently, the payout amount. For example, if you are taking over-the-counter medication and Non-steroidal Anti-inflammatory Drugs (NSAIDs) to manage mild arthritis, you may be offered a policy with no additional loading, as these drugs are not typically associated with complications to the heart or kidneys.

Seeking Expert Advice

Given the variations in critical illness cover policies and insurers' approaches to arthritis, it is recommended to consult with experts or brokers who specialise in critical illness cover. They can guide you in finding the most suitable policy for your specific circumstances and ensure you receive the financial protection you need.

In summary, critical illness cover can provide financial support for individuals with arthritis, but it is important to carefully review the terms of the policy and understand how insurers assess arthritis conditions. Seeking expert advice can help ensure you obtain the best coverage for your needs.

Income protection insurance

Most income protection insurance policies will pay out if an arthritis patient needs to take time off work due to their condition, unless the insurer has placed an exclusion for arthritis on the policy. This exclusion means that the policyholder cannot claim arthritis-related sick leave but can claim for any other reason.

Factors Affecting Income Protection Insurance for Arthritis Patients

When applying for income protection insurance with arthritis, the insurer may consider several factors, including:

• The type of arthritis the patient suffers from.
• The date of diagnosis and how long the patient has had arthritis.
• The severity of symptoms and how much they impact daily life.
• Any medications taken or treatments received for arthritis.
• Whether the arthritis has caused any joint deformities or disabilities.

Tips for Getting Income Protection Insurance with Arthritis

• Shop around and compare quotes from different providers to find the best price.
• Improve your lifestyle by making healthy changes, such as losing weight or quitting smoking, which can positively impact your premium.
• Speak to an expert, such as an independent insurance agent or a broker, who specialises in income protection insurance for arthritis patients. They can help you find the right policy and ensure fair treatment.

Frequently asked questions