It is not uncommon for several medical conditions to make getting approval more difficult when applying for life insurance.
Certain conditions can affect an individual’s life expectancy, potentially increasing the life insurance company’s risk of paying a claim.
Individuals with diagnoses of haemophilia may find such issues when applying for life insurance.
Hemophilia is a type of genetic, typically hereditary disorder
This condition revolves around the X-linked, or F8 recessive genes in one’s body and more or less causes impairment in one’s ability to control bleeding, clotting, and coagulation.
People with this condition do not typically bleed more heavily than others, but they do tend to bleed for a longer period, and often, other serious issues arise as a result of this.
Some more common symptoms of haemophilia include redness, pain, local swelling, and recurrent bleeding in joint spaces like the shoulders, ankles, elbows, knees, and hips.
Click To Compare QuotesIn some cases, an individual’s bleeding can become life-threatening if it affects areas like the digestive system, the central nervous system, or the oropharyngeal spaces from the mouth, nose, and throat.
Because of these symptoms, it can be much harder for individuals with haemophilia to obtain life insurance.
It should be good to know; however, even with haemophilia, you can qualify for traditional types of life insurance coverage.
For this to happen, you must work with a company with access to various insurers to qualify better.
It would help if you also compared policies, benefits, and premium quotes that more closely fit your budget. For that reason, we can help you.
What Underwriters Need to Know
When individuals with haemophilia apply for life insurance, the company’s underwriters need to know some specific details about their condition.
This helps them better understand how their condition affects their overall health and whether they can control it.
The questions below and the answers also assist the underwriters in appointing a proper monthly premium to your policy based on the level of risk you present to the company.
Some of the questions you will likely be asked include the following:
When were you initially diagnosed with your condition?
The underwriters need to know at which age you were diagnosed to fully understand your current state of health.
Because haemophilia can be life-threatening, early detection may have significantly affected how you control and monitor your condition, especially regarding the frequency of bleeding.
Click To Compare QuotesIf you can adequately control your bleeding, you can obtain a mild substandard rating for your life insurance coverage.
A medium substandard may also be possible if you cannot control bleeding very well.
How many episodes of bleeding do you have per year approximately?
The underwriters need to know the number of bleeding episodes per year because the frequency (and length of the bleeding time) can help determine a more appropriate rating class for your policy.
It is also important to note where the bleeding episodes occur on the body—if they occur at or near major organs, they are considered much more severe.
What, if any, medications do you take for your condition?
The underwriters want to know specifically if you take medications to help prevent bleeding episodes and, if you do, which medications you take.
It is possible to qualify for a mild substandard rating if your drug of choice is helping you control and manage your condition.
Do you regularly schedule visits with your haematologist to discuss your condition?
Regular check-ups with your specialist show that you are trying to control your condition, and underwriters take this as a positive sign regarding your policy.
Have you had any relevant lab tests performed over the past year?
If you have had relevant lab testing performed to measure your bleeding and clotting time, the underwriters can better understand your risk of bleeding.
Having positive exam results may give you a better rating for your policy.
Do you partake in potentially higher-risk activities or hobbies?
Underwriters need to know if you participate in activities or sports that can trigger bleeding.
If you do, you can gain a higher policy rating because this would be considered a higher risk of claim to the life insurance company.
Click To Compare QuotesIn addition to the specifics about your case of haemophilia, the underwriters also review the general information you send in with your insurance application.
You provide such data as: (1) age, (2) gender, (3) height and weight, (4) overall health history, (5) family health history, (6) smoking status, (7) alcohol use, (8) occupation and income, (9) marital status, (10) foreign travel participation.
All of these details are compiled in addition to the results of the blood and urine samples you are required to provide as part of the underwriting medical exam.
These samples are usually analysed for certain types of health conditions that can increase the life insurance company’s risk of a claim.
Once all of the information has been evaluated, a decision can be made regarding coverage.
Most of the time, individuals with haemophilia who apply for life insurance can obtain a policy with a mild substandard rating, provided that they are in relatively good health and their condition is well controlled through medication and other means.
How to Obtain Life Insurance with Hemophilia
When you have haemophilia and are working to obtain life insurance, a company with access to multiple insurers is often the best to work with.
As a result, your information will not be subject to the underwriting requirements of only one company.
We can help when you are seeking the life insurance protection you need.
We work with many of the best insurance companies in the marketplace today, and we know which carriers are better suited to work with applicants whom the insurance industry considers to be higher risk.
We can help guide you in the right direction before the application process begins, saving you many hours of time and frustration and obtaining the right coverage for you quickly.
To get started, fill out the form on this page.
If you have any questions about life insurance and haemophilia, how to obtain or compare policy quotes, or pre-existing conditions in general, please contact us directly.
We can be reached toll-free at 0203 150 1349.
We want to help you get the necessary coverage. Contact us today—we’re here for you.