Last Updated: June 2020
For people suffering from Addison’s Disease, the thought of obtaining life insurance can be a daunting one.
No one likes to go to the doctor and get told they aren’t in perfect health, and knowing you aren’t in perfect health as you walk in makes it even scarier for many people.
For other people, they may simply have questions about the process of obtaining life insurance with Addison’s Disease or are simply wondering whether or not they would be declined.
Whatever the case may be, the simple fact that you have Addison’s Disease should not automatically disqualify you from obtaining life insurance by any means.
In fact, there is a very good chance you can still get life insurance just like everyone else.
Those are the details we plan to cover in this brief article:
- Life Insurance with Addison’s Disease
- Starting the Process of Obtaining Life Insurance with Addison’s
- Underwriting Life Insurance and Addison’s Disease
- Consider Guaranteed Issue Life Insurance With Addison’s Disease
- Life Insurance with Addison’s Disease Doesn’t Need to be Difficult
Life Insurance is Boring. Let’s Get To The Root Of It! Here are the key takeaways…
It is possible to be provided life insurance coverage with Addison’s disease at standard rates. To be approved for life insurance with Addison’s disease, the life insurance company will inquire into key factors about the condition such as the date of the diagnosis, the cause of adrenal insufficiency, and if you have had any recurring episodes in the past 5 years.
While you may still be intimidated by the process after the brief overview explained above, it is important to take a breath and take a moment to read about the rest of the process of obtaining life insurance with Addison’s disease.
It is much easier to be approved than you may believe.
Life Insurance with Addison’s Disease
Life insurance with Addison’s disease is possible but you do need to keep a few things in mind when applying for coverage.
First, Addison’s is a rare disease.
While this may not necessarily make it any better or any worse than any other high-risk medical condition, it is still a factor and the life insurance companies attempt to provide approvals based on data they actually have.
It is still what we in the industry would refer to as high-risk life insurance.
It is completely different than applying for life insurance with common conditions such as high blood pressure or even as a smoker.
This is due to the life insurance company having data to support their approvals based on being able to effectively determine a life expectancy.
While this may lead several life insurance companies to decline an individual with Addison’s does not mean that you do not have other options you can consider and other top-rated life insurance companies you can attempt to secure coverage with.
Starting the Process of Obtaining Life Insurance with Addison’s
If you have Addison’s Disease, you will need to undergo a medical exam before the underwriters can assign you with a rating.
The good news for many people with Addison’s Disease is, if the disease was detected early, the symptoms are already being controlled, and complications from a hormonal imbalance like diabetes have been prevented, then it is very possible you could receive a standard rating for life insurance.
If you have had complications, such as thyroid hormone fluctuations that have to lead to hypoparathyroidism, then you might still qualify for a mild substandard rating when you request a quote from a life insurance company.
The trouble is, many people have no idea which health class they are in when they are about to start the process and are apprehensive to answer certain questions in the wrong way.
If you’re older and concerned if you can qualify for term life insurance for seniors, we can assist in this process.
We can answer questions and help you find the coverage you deserve.
Underwriting Life Insurance and Addison’s Disease
There are many things that come into play here, such as when you were first diagnosed with Addison’s Disease and if you have had any damage to your adrenal glands.
If you have experienced zero symptoms in the past six months, things will also be seen to be much more in your favor.
Common symptoms they look out for include severe vomiting, hypertension, loss of consciousness, muscle aches, or abnormal laboratory findings which indicate a health condition that may contribute to a mild substandard rating.
The medications or drugs you are currently taking will also be taken into account since they can replace the lacking steroid hormones in your body.
An underwriter will also want to know if you’ve had any recent checkups with an endocrinologist or if you’ve undergone any diagnostic tests within the past 12 months.
Consider Guaranteed Issue Life Insurance With Addison’s Disease
As mentioned previously, Addison’s is a rare condition that can make it difficult for some life insurance companies to secure coverage.
As always, we recommend using an independent life insurance agency that is suited to handle high-risk applicants.
Ultimately, this is going to give you the best shot at being approved at decent rates.
However, sometimes you cannot get approved for traditional coverage and need to wait longer before applying depending on the status of your Addison’s.
If this happens to you, it is important to consider alternative options for life insurance coverage such guaranteed issue life insurance.
These policies will not require any medical exams or any medical information to be approved.
They do require a 2-year waiting period that halts the coverage pay out’s during this time but once this time has elapsed, your coverage is in full force just like any other life insurance policy.
Consider top-rated and reputable companies such as AIG and Gerber Life if you find yourself in this situation.
They can offer coverages ranging from $1,000-$35,000.00 and offer some of the most competitive rates available.
Life Insurance with Addison’s Disease Doesn’t Need to be Difficult
Many people with Addison’s find us after speaking with a national call center like GEICO Life Insurance or one of the other big brands.
The thing is, those agencies are high volume call centers that don’t give you the time needed to properly find you the best rates.
Just because you have Addison’s Disease doesn’t mean whatsoever that you won’t be eligible for life insurance, and with people who have Addison’s Disease commonly being approved for standard rates, things can actually appear pretty bright.
If you are even the slightest bit apprehensive about beginning the process, we suggest you contact us first for more information.
We are experts at helping people with Addison’s Disease obtain life insurance at a price they can afford and can help to walk you through all the complicated steps.
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