With any type of health disorder, it could become more difficult to qualify for life insurance coverage – even something as seemingly non-threatening as chronic back pain. This condition could be caused by any number of either internal or external sources – and it could also lead to other more serious health related issues that are concerning to life insurance underwriters.
If you suffer from chronic back pain and you’ve been rejected before, it is possible that you just weren’t going through the proper channel. By working with a life insurance company that specializes in higher risk cases, you can significantly improve your chance of approval for getting the coverage that you need – oftentimes at a very competitive premium price.
We are going to explore the different problems that you’ll run into when you’re shopping for insurance protection and how you can be approved.
What the Insurance Underwriters Want to Know
Any time an applicant for life insurance has been diagnosed with a particular condition, the insurer will typically require additional details regarding the individual in order to determine the amount of risk that the person will pose in terms of potentially filing a claim.
Therefore, when applying for life insurance with chronic back pain, the company will want more information. The questions that you will be asked will usually include:
- What is your actual diagnosis?
- In what ways, if any, are you limited due to your chronic back pain condition?
- How long does an episode of your back pain typically last?
- How often does an episode of your back pain usually occur?
- When did you first start experiencing chronic back pain?
- Have you had any surgical procedures for your condition, and if so, when?
- What medications are you taking?
They will also want to know more details about how the medications you are taking for your back pain are affecting you, as well as their potential for over-medication, addiction, or depression.
In addition, they will also want to know if you are taking any steps to help in controlling your condition. For example, do you perform any type of regular exercise or receive massage treatments that help to ease the back pain? If so, this can help your chances of being approved for coverage.
It is also likely that you will take a medical exam as a part of the underwriting process. This typically consists of submitting a blood and urine sample. These samples will help the underwriters to determine other types of health conditions that you may have that could pose a risk to the insurance company in terms of potentially filing a claim.
On top of your condition-related information, the life insurer will also review information such as your:
- Height and weight
- Occupation and income
- Health history and family health history
- Amount of any other life insurance coverage already in force
How Much Will Your Life Insurance Policy Cost?
After they have this information, they will be able to give you a decision on your application, either rejected or approved. If so – and if it is deemed that your chronic back pain is well controlled (and you have no other adverse health conditions) – then it is likely that you can qualify for a Standard rated policy.
If, however, it is determined that your chronic back condition presents a higher than average risk to the insurer, then you may still qualify for life insurance coverage, but it may be at a Substandard policy rating. This means that your premium will be higher than average in order to compensate for the higher amount of risk that is being posed to the insurance company.
Have you thought about final expense life insurance? We can also help you with this type of insurance and many others.
Final expense life insurance policies are going to offers a small amount of coverage, around $20,000. These plans are designed to for applicants that can’t get approved for a traditional life insurance plan. Because these policies are a lot smaller, they won’t require a medical exam and the company isn’t going to ask any health questions.
These policies are designed for older applicants typically. This is because older applicants tend to not have as much debt, and a final expense policy will cover everything left behind.
Another option is a no exam plan. With a no exam policy, you can purchase up to $250,000 worth of coverage. If you need more than a final expense plan offers, then a no exam policy could be the best option. No exam plans won’t require you to take the medical exam, but the insurance company will ask you dozens and dozens of health questions before they accept your application. Before you go to buy one, let’s look at the ins and outs.
One notable drawback is you’re going to pay more per a coverage dollar versus what you would pay for a traditional plan with a medical exam. If you’re looking to get the most bang for your buck, then a no exam policy is not going to be the best option.
Regardless of the cause of your chronic back pain, there are several options for quality and affordable life insurance that you can choose from. More than likely, we can help you find an insurance company that will approve your application for a fully underwritten plan.
How to Improve Your Chances for Policy Approval
To give you the best chance, you need to find an agency that specializes in high-risk cases. These professionals are much more familiar with which insurers are more likely to accept various risks.
They can also assist you with any of the additional details or paperwork requirements that are needed up front. This can help to avoid time consuming delays with underwriting, essentially getting you the coverage that you need much more quickly and conveniently.
If you want to know which insurance companies are the best, feel free to give us a call.
Our independent our experts in high-risk insurance. We have spent years looking the details and ways to navigate the tricky maze of life insurance. Some companies are going to charge you higher premiums because they don’t understand the causes of the chronic back pain. We can help you avoid these companies.
You can request a quote by filling out the quote form or call us at 888-552-6159.