Life Insurance with Asthma

What You Need to Know About Life Insurance with Asthma

Consider all of the things you do in a day without thinking. The number of times you blink, swallow and breathe, seemingly effortlessly.

Now think about that last one, which is probably the one you take the most for granted. Every second of our lives, your lungs are playing a crucial part to your survival. Alveoli – or small sacks in the lining of your lungs – allow carbon dioxide and oxygen to move into your bloodstream and your lungs.

The intake of oxygen is essential to helping your organs and cells function properly. And all of this is happening without you even realizing it.

Your Lungs and Asthma

If you take an incredibly deep breath, then release the air in your lungs – yoga-style – you can almost feel the air circulating throughout your system. Now, if you take another deep breath and hold it for as long as you can, you’ll probably begin to experience a feeling akin to panic, along with tightness in your chest and throat.

The latter feeling is something that individuals with asthma struggle with regularly.

During an attack, the airways of the lung constrict, narrowing and swelling. In some instances, these airways can become clogged with mucus. The muscles around the obstructed airway also squeeze, which further increases breathing difficulties.

Asthma can be triggered by pollutants, emotional trauma, smoke, exercise or bronchial infections. Irritants, such as allergies, can also trigger asthmatic attacks.

Asthma is grouped into three categories:

–    Exercise-induced, which is caused by strenuous physical activity

–    Intrinsic asthma in which no allergen can be identified as a trigger

–    Extrinsic asthma, which is typically caused by an allergic reaction to a pollutant

Extrinsic asthma attacks can be incredibly severe, and those who suffer from these attacks are at risk for developing Chronic Obstructive Pulmonary Disease (COPD), or emphysema. The likelihood for developing COPD increases if the inflicted individual is a smoker or has had a history of tobacco use.

Although triggered by different external irritants, the symptoms of an asthma attack are relatively similar. An individual with asthma will begin to experience shortness of breath, followed by gasping, wheezing and coughing. The lack of airflow to the lungs causes panic, which further constricts the airways and reduces access to oxygen.

If the attack is severe, the victim’s fingers or lips could begin to turn blue with oxygen reduction. If someone you know is experiencing this type of attack, call 911 immediately. An EpiPen can help reduce the swelling caused by allergens; however, most asthmatics use a bronchodilator as treatment.

A bronchodilator is an inhalant designed to widen the bronchioles and bronchi. The widening of these passageways increases oxygen flow to the airways. Oxygen therapy, as well as steroids and the cessation of smoking, are also effective treatment methods.

Before seeking treatment for your asthma, be sure to contact a medical professional.

Asthma Life Insurance

Living with asthma can be incredibly frightening, particularly not known how easily your next breath will come.

One problem that asthmatics face that others might not is the risk of having their life insurance premiums increase. It may also be difficult to find term life insurance with asthma.

Because the lungs are incredibly important to the way the body functions, any form of lung disease isn’t favorably looked upon by life insurance underwriters. Reasonably, you can expect your premium pricing to begin at “standard” risk rates if you are looking for asthma life insurance..

Even though your asthma may increase your risk and premiums, it is possible to find affordable life insurance coverage.

One option is guaranteed issue life insurance, which promises coverage for those whose risk is too great to be taken on by traditional life insurance companies. This type of coverage is typically recommended by those with only the most severe cases of asthma, so before purchasing this product give us a call today so that we can help you compare quotes.

If your asthma and your associated symptoms are mild to moderate, you may have to undergo a medically underwritten exam before being considered for life insurance coverage. No medical exam life insurance policies are also available.

If you are shopping for life insurance with asthma it is important to know that an underwriter will consider the following:

–    The frequency of your attacks.

–    The severity of your attacks and their symptoms.

–    How you are treating or managing your asthma attacks.

Frequency is ranked on a scale, from occasional attacks – which occur seasonally or less than six times annually – to frequent attacks, which occur more than six times annually.

An individual with frequent asthma attacks still has a shot at being rated favorably, if these attacks are mild, and a specific trigger has been identified. Some carriers are willing to take on the risks of an asthmatic applicant, and we know which companies have the best rates! This is because we know that underwriters use tables to rate these asthma attacks on a scale of mild, moderate or severe.

It is important to note that almost any asthmatic can be eligible for coverage, regardless of the frequency or severity of their symptoms. Typically, the premiums for these individuals will include a “flat extra,” which is an additional dollar amount tacked on to the premium.

The fact that we know your risk and how carriers will view your risk means that we will be able to help you find the right company for you, saving you money and time.

Companies like AIG, Banner Life, Mutual of Omaha and Transamerica all competitively underwrite asthma life insurance and might be good places to start your search for the best rates. If you are a non-tobacco user, your asthma is well controlled, and you occasionally use an inhaler, you may be eligible for an approval in the “Preferred” rate category.

No Medical Exam Life Insurance with Asthma

Sometimes the most affordable rates for those with asthma are difficult to find and there is one caveat to shopping for life insurance with asthma: remember when we said “almost” any applicant with asthma could find coverage? This is where asthma life insurance gets a little tricky.  The “almost” refers to any individual not considered a smoker.  If you smoke cigarettes or use tobacco products and are experiencing asthmatic symptoms – especially if these symptoms are classified as “frequent” and “severe” – you will be classified as uninsurable and will be declined for coverage. This is because life insurance and asthma underwriting look at smoking already as a high risk and, when combined with lung disease, the risk is too great for most insurers to take on.

If you are looking for life insurance with asthma, and are a smoker you might want to consider guaranteed acceptance life insurance. This type of insurance will guarantee coverage, no matter your high risk situation. These rates will be a little bit more expensive than other asthma life insurance premiums; however, if you are a smoker or your asthma is severe, guaranteed acceptance life insurance is the best route for you to choose.

The best companies offering guaranteed acceptance whole life insurance are AIG and Gerber Life Insurance with $25,000 being the maximum coverage amounts offered per company. Assurity Life and Mutual of Omaha also offer guaranteed acceptance Accidental Death Benefit Insurance with benefits up to $500,000.

On the other hand.. If you have a mild or moderate case of asthma and you do not smoke, your options are far greater. You can get up to $500,000 of life insurance with no medical exam required. The best companies are American National, Fidelity Life, Mutual of Omaha and Phoenix Life. Remember: not all carriers are created equal – especially no exam life insurance companies – so give us a call today so that we can help you choose the right carrier for you.

We Can Help

If you have asthma and are looking for affordable life insurance, you’ve come to the right place.

It is important to be as honest and truthful as you can on your application and with your agent. If you smoke and have asthma, you can still find coverage. By communicating your situation as candidly as you can, your agent will be able to paint an accurate picture of your risk to the insurer.

The more accurately and favorably your risk is presented, the easier it is to find affordable and adequate coverage.

Fill out an instant quote form or reach out today to see how we can help.