Life Insurance with Gout

click to enlarge pain from goutIt is daunting to think about applying for life insurance after the diagnosis of a life changing health situation.  Because it will normally be the case that your application will include going through a  medical examination.

Once you submit an application the insurance carrier will run it against the many rules they have in place to determine what class you will be placed in.

If you have been diagnosed with gout, the good news is that you could still qualify for life insurance coverage – and in many cases, you may even be able to get coverage at standard premium rates.

In doing so, however, it is important to go about applying for coverage through an agency that can lead you in the right direction. This way, you will be able to start out with the knowledge of which insurers are most likely to accept you and how to best go about submitting your application materials.

 If you’re worried about being declined for life insurance or how much you’ll pay for your coverage, don’t worry. Check out these suggestions on how to improve your chances of getting more affordable life insurance coverage. This article is will walk you through some of the different factors you should consider when you’re shopping around for insurance protection.

What the Underwriters Will Look For

The insurance company underwriters will be looking for specific information regarding your condition. One of the biggest criteria that they are seeking information on is whether or not your gout is under control. This will help them in making a determination about whether or not to approve your application for the coverage you’re applying for.

Some of the most common questions that those who have gout are typically asked include:

  • How long it has been since you were diagnosed with the condition.

  • Any sustained symptoms over the past six months, and if so, what symptoms of gout have you experienced?

  • How many attacks do you typically experience per year?

  • Which part of your body is most affected by the condition?

  • Have you been unable to perform any ADLs (activities of daily living), which include bathing, eating, dressing, transferring (from bed to chair), and / or toileting?

  • Have you recently had your uric acid levels tested?

  • What medications do you take for your condition?

  • What, if any, rehabilitation program or programs has your doctor prescribed for you?

  • When was your most recent doctor visit?

  • Dealing with other conditions?

When asked these questions on the application, it is important to answer them as honestly and completely as possible in order for the underwriters to obtain the most accurate picture as possible regarding your condition.

In many instances, the life insurance carrier does want you to have a medical exam prior to approving your application for coverage. In this process, the medical examiner will come to your home. The exam will consist of checking your height and weight. The examiner will also take a blood and urine sample.

In addition, the insurance company will also typically review your medical records and will check a prescription database in order to determine any medications that you may be taking now, as well as what you have taken in the past.

They are going to use all of the information they gathered to decide what risk class you might be put in. The more risk you are, the more they are going to charge you for insurance. If you’re too great of risk, then you’re going to be declined for coverage.

Policy Ratings

Once the life insurance company underwriters have reviewed your application, they will make a determination regarding whether or not to accept you for coverage. If so, based upon the severity of your gout, they will then rate your policy accordingly.

This means that your policy may be accepted for coverage, however, it is possible that you will be required to pay a higher amount of premium due to being a higher coverage risk. If, however, the underwriters determine that you are managing your condition properly with proper diet, exercise, and medication, then it is possible that you could qualify for a Standard rating where you would pay the same amount of premium as a policy holder who is of “average” health, height, and weight.

Guaranteed Acceptance Life Insurance

Sometimes being declined by a carrier before doesn’t actually mean you can’t purchase any life insurance.  You can always apply for a guaranteed acceptance policy. These plans accept all applicants, regardless of health.

There are two major disadvantages to these policies you should take note of, the price and the coverage limits. Without the medical exam or health questions, the insurance company takes all the risk, and they’ll charger you a higher premium to negate the higher risk.

The other drawback is the coverage limit. Most guaranteed issue policies cap your purchase around $25,000 of life insurance. In many households, this won’t be quite enough life insurance. Which makes guaranteed issue policies the final product to try.

How to Increase Your Chances of Getting Approved for Coverage

There are a couple of ways you can get approved for life insurance and lower your insurance rates. Making a few lifestyle changes can save you thousands of dollars every year or be the difference in getting declined or getting quality insurance.

Saving money off your quoted premium is easy if you decide to stop smoking. Smokers and tobacco users are charged two times the premium for their coverage compared to what a non-smoker would pay. With some companies, you could end up paying three times as much. If you have gout, then you’re already a high-risk applicant, and being a smoker makes you a much greater risk. These two factors combined could cause you to be declined for insurance.

Why stop there when you could lower the premium even more by living a healthy lifestyle. The change will not be sudden but over time your vitals will change and this could trigger the insurance company to change your class rating.  Soon enough you could see that monthly bill go down by 50%!

If you have been diagnosed with gout and need life insurance, there are some ways to help increase the chance of being issued the coverage that you need. One of the best ways of doing so is to work with an insurance agency (like ours) that specializes in working with applicants who have a wide range of medical conditions.

Unlike most other insurance agencies, specializing in high risk life insurance allows us to know what additional requirements could help to get your application pushed through. For example, oftentimes an agent may include a recommendation letter along with the application that states how you are managing your condition properly and would be a good insurable risk.

It is also a good idea to work with an agency who is affiliated with several different life insurance companies. Now you can receive quotes and policy comparisons from several insurers in order to see which one may be able to best take on your particular coverage needs.

Compare quotes for life insurance using the quote form on this page, or call us at 888-552-6159 to discuss your specific situation. 

Got questions?  Our goal is to be the answer.  We pride ourselves on our status as an independent broker and love that we have plenty of plans and carriers at our disposal.  We’ve done the tough work so call us and we’d enjoy showing you a detailed quote for the plan that fits your and your families situation.

Tragedy might be right around the bend. Don’t wait much longer to put the life insurance plan in place to give your family the coverage they need.

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Doug Mitchell

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