Can I get affordable life insurance with Rheumatoid Arthritis?
It is possible to find affordable life insurance with rheumatoid arthritis. You must work with an agent who is skilled in the area of special risk life insurance.
Finding affordable life insurance with rheumatoid arthritis starts with finding the right insurance company to talk to. All insurance companies publish the same standard rates. The secret is finding the right company that will underwrite your medical history and lifestyle the best.
An independent agent who represents multiple insurance companies is the best. The agent needs to have a background in knowing which insurance companies look most favorably at a particular risk.
Fortunately, you have landed on the right page. We are experts in finding the most affordable life insurance with rheumatoid arthritis. First let’s take a look at what rheumatoid arthritis is and how insurance companies view this special risk.
What is Rheumatoid Arthritis and how is it treated?
Rheumatoid arthritis can be a painful disease. RA is a symmetric inflammatory disease affecting 1-2% of the adult population. Unfortunately, their is no cure for rheumatoid arthritis. It can occur at any age, but is usually diagnosed in the third to fifth decade and affects women twice as often as men.
Typical symptoms and findings of rheumatoid arthritis include:
- Morning stiffness
- Arthritis in multiple joints
- Symmetric arthritis (both hands)
- Rheumatoid nodules located under the skin
- Positive rheumatoid factor (blood test)
- Typical x-ray findings
Rheumatoid arthritis can affect many other organs besides the joints, such as the heart and lungs. Other effects can include: weight loss, fever and low blood counts.
A significant proportion of RA patients are disabled to some degree within 5 years of diagnosis, and many stop working by 10 years.
When insurance companies underwrite life insurance with rheumatoid arthritis, they are concerned with the excess mortality risk in RA due to infections, GI bleeding, other organ involvement and cardiovascular disease.
Medications used to treat RA can have significant side effects, and play a key role in how underwriters view cases on RA.
Some of the common medications used include:
- Aspirin
- Non- Steroidal anti-inflammatory agents (NSAID)
- Hydrochloroquine
- Prednisone
- Sulfasalazine
- Methotrexate
In fact, the long term use of steroids can sometimes have more impact on the rating for life insurance with rheumatoid arthritis than the actual RA itself. In other words, the treatments are typically worst than the cause from an underwriting standpoint.
Life insurance underwriters typically assign a rating risk for life insurance with rheumatoid arthritis based on the severity of the disease.
- Mild- normal labs and x-rays. No functional disability or other organ involvement. Treated with simple medication regimens including NSAID, aspirin, hydroxychoroquine and minocycline. This typically would not involve any extra charge or rating from the insurer.
- Moderate- some abnormal labs and higher medications with longer term use of steroids. This typically would be subject to a 50% to 100% extra premium charge.
- Severe- Functional disability, wheelchair bound, or rheumatoid arthritis involving major organs. This would typically be subject to a declination of coverage.
It needs to be pointed out again, that the key to finding the lowest rate for life insurance with rheumatoid arthritis is finding the carrier that will offer the best risk class based on some of the information stated above.
One insurance company may look at a RA case and immediately place that individual into the moderate risk class. While another insurance carrier may place that individual in the mild risk class. The difference in risk class can be significant. One insurer may want to charge double what another insurer would be willing to offer.
Your agent is the best advocate you have when looking for the lowest cost life insurance with rheumatoid arthritis. It is their job to fight for the best offer and make the insurance companies compete against one another.
What questions will an insurance company ask?
When shopping for life insurance with rheumatoid arthritis you will be asked several questions. These questions will help your agent and the insurance carrier determine what risk class you may fall into. Some of these questions include:
- Male or Female
- Date of Birth
- Date of first diagnosis of RA
- Currently taking any medications or over the counter supplements? If so, name and dosage
- Have you had any of the following: Weight loss, Fever, lung disease, low blood counts, heart disease, liver enzyme abnormality, kidney disease
- Which joints are involved
- What is your functional ability? I.E. Fully active, sedentary, use walker, cane, etc. use wheelchair
- Have you use tobacco products in last 5 years?
- Any other major health conditions?
In addition to the medical information noted above, it is also important to note how much coverage you need. What type of plan of coverage are you looking for?
If you are looking for the lowest cost life insurance with rheumatoid arthritis, I urge you to contact us at 1-888-393-9003 or e-mail Mike Raines at mike@specialriskterm.com
We are experts in the special risk life insurance market. We personally answer our phone. No more worries of talking to several different agents to find the lowest rate. We do all the shopping and negotiating for you.
