We have recently been approached by a client who had applied for life insurance with one of the industry’s leading providers through an online broker. However, due to her medical history of mild COPD (Chronic Obstructive Pulmonary Disease) she was instantly declined. Show
As we are protection experts who specialise in helping people with pre-existing medical conditions, she then contacted us in the hope that we would be able to help her. The client told us that she rarely gets any symptoms and that her lung function is very good. We were surprised to hear her story, especially as the insurer made the decision to decline without even requesting further medical evidence from her GP. Our researchAfter we had gained a good understanding of her medical history, we conducted research with all of the insurance providers, including the company that she had applied with previously. This involves us talking through a client’s medical history directly with an underwriter. This process means that we can assess which company is likely to offer our client the best terms. This is important as it helps to save us and our clients a lot of time and ultimately potential disappointment. Possible outcomesIt turned out that the company that she had applied with previously, always apply a minimum premium increase (a loading) of 150% (this is on top to the basic premium). We spoke to another leading provider would be happy to offer her life insurance cover on standard terms under the following circumstances:
If the client does not meet all of the above conditions then the premium will be increased by a minimum of 50% or higher depending on whether the COPD it is classified as mild, moderate or severe. If the COPD does not fit the mild category it is likely that insurance companies will require further evidence from the GP. A good outcome:Our client required a decreasing term policy (mortgage protection) with an initial sum assured of £70,000 over an 11 year term. After assessing the medical evidence the insurer offered a premium with a 50% increase (loading), so the final premium was £24.96 a month. Our client was very happy to get the much needed protection in place, especially as she had previously been declined. Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted. It’s worth bearing in mind, everyone’s situation is different. If you have any questions, or would like some (free) advice, the best thing to do is call one of our friendly advisers. Call our award-winning team on: 0800 644 4468 Other case studies you may be interested in:
Do you suffer with a medical condition and are concerned you can’t secure Life or Critical Insurance? Please view our ‘Medical Guides’ for further information. Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success. All applications are subject to underwriting. Getting life insurance with COPD can be debilitating, and life insurance is a must-have for those who are diagnosed with this condition. What do you need to know? We’ll tell you right now about how to achieve accurate COPD quotes for life insurance! Article Navigation
Can You Get Life Insurance With COPDLife insurance for people with COPD, can I get covered? If you have been recently diagnosed with Chronic Obstructive Pulmonary Disease COPD and asked yourself, “does having COPD make you ineligible for life insurance”, the answer is no. Above all, having COPD will come down not to whether you can get coverage, but to what rating class you will get. All life insurance companies have different guidelines when it comes to COPD. However, being diagnosed with COPD and finding affordable life insurance rates will come down to whether it is mild, moderate, or severe. In addition, if you are on oxygen and what type of treatment or medications you are taking.  Life Insurance For COPD SufferersI guess we have answered the question, “Can I get life insurance if I have COPD”. Again, it will come down to a few things when it comes to COPD life insurance underwriting. COPD insurance coverage and life insurance rates will be determined on which carrier to go with. An experienced independent agent will lead you to the best choice. Overall, life insurance is based on mortality. So if you are asking yourself, “can you die from COPD”, the answer is yes. But we are all going to die someday. If you have smoked you’re just getting there faster. The bottom line, stop smoking and you will live longer than if you continued. Life Insurance For Smokers With COPDLife insurance carriers will want to know when the diagnosis was. In addition, they will want to know if you are still smoking. Overall, if you are still smoking then you will be considered high risk, and depending on your treatment, you may be declined. Again, having any type of lung disease like COPD with a combination of active smoking is a double WHAMMY!! So if you are looking for the most affordable insurance quotes you might want to put down the cigarettes. Does moderate COPD qualify for disability?Above all, COPD is a progressive disease that will take years off your life. In addition, if you are unable to do daily activities because you are gasping for air, then YES you are disabled. However, moderate COPD insurance coverage would be a rating of Table 4 at best. For example, this would include occasional infections with no steroids but regular medication use. Getting The Best Life Insurance For COPDI have COPD can I be covered by life insurance? This is one of the most common questions when engaging with COPD life insurance. Regardless, if you have COPD we will find you a policy. It will just come down to the following as far as rate class. Here is the rule of thumb ratings for COPD and Life Insurance: DegreeSymptomsRxFev1Rate ClassMildNone–except for occasional throat clearing and respiratory infectionNone60-80%Table 2/BModerateAirway obstruction on moderate exertion such as climbing two flights of stairsInhaler50-60%Table 4/DSevereShortness of breath with activity such as dressing, walking one blockSteroids, Multiple Inhalers40-50%Table 7/GExtremeDisabled, shortness of breath at rest or minimal activityHome Oxygen<40%DeclineAll of these ratings will determine the price you pay. Furthermore, don’t worry if you have an extreme case of Chronic Obstructive Pulmonary Disease, there is always a guaranteed acceptance policy as a last resort for a death benefit. Keep in mind that the underwriting process will consist of:
In addition, have you been recently admitted to the hospital for shortness of breath or chronic bronchitis? Term Life Insurance for COPDAbove all, if you are looking to protect your loved ones that depend on you financially then a term policy probably will be the best way. However, even if you have mild COPD it will impact the price of the policy. Here are the prices for a 65-year-old with Mild, Moderate, Severe, and Extreme COPD for $100,000.00 15 year term: COPD DiagnosisRate ClassTerm LengthFace AmountMonthly PremiumMinimalStandard15 year Term$100,000$117.85MildTable 215 year Term$100,000$146.72ModerateTable 415 year Term$100,000$193.91SevereTable 715 year Term$100,000$264.69ExtremeDeclineDeclineDeclineDeclineHaving a pre-existing condition such as COPD, you must understand that the disease is progressive and only gets worse. Overall, underwriters think the same way. So it comes down to an accurate risk assessment. This will be the basic underwriting that we spoke about earlier in this article. However, it would be best to fill out a COPD Questionnaire. Here are some common questions that will assist the underwriter in making a decision. What Questions To Expect On The ApplicationCOPD Underwriting Questionnaire
Again, the more information the underwriter has the better chance they can make a better decision. A key point to know if you make the underwriter’s job easier you make get a lenient process. Which Exposure Accounts For Most Cases of COPDOverall, about 80-90% of COPD cases are due to exposure to tobacco smoke. Other cases are usually associated with occupational work, secondhand smoke, and pollution. COPD is a progressive disease that takes several years to develop in addition to being the 3rd most common cause of death in the US. Is COPD a degenerative disease? Yes, it is!! Best Life Insurance For Seniors With COPDWhat about life insurance for seniors with COPD? Once you are at retirement age the amount of life insurance usually changes. You are now considered an empty-nester. In fact, you may only have a spouse that depends on you. In this case, if you need life insurance these are the best products at age 65 or over.
Here are life insurance quotes with COPD for a 65-year-old patient with Mild COPD. ProductGender/AgeFace AmountCoverage PeriodMonthly/AnnualTermMale/65$250,00015 Year Term$260.58/$3,029.99Guaranteed Universal Life (GUL)Male/65$100,000GUL To Age 100$228.50/$2,655.30FInal Expense/Burial PolicyMale/65$40,000Lifetime$213.42/$2,398.00Burial Insurance With COPDFinding burial insurance or final expense insurance with COPD can be frustrating. However, there are many life insurance carriers that will cover you on day one as long as you are not using oxygen. If you are using Oxygen, then you will have to settle for a graded, modified, or guaranteed issue policy. Here are our go-to carriers that you should be aware of that will cover COPD for day one coverage.
Life Insurance For People on OxygenAlthough you may have options for non-oxygen COPD life insurance, there are not many options for oxygen use. You see, adding oxygen use to any high-risk pre-existing condition will be enough to scare any insurance carrier into not taking a risk. However, we do have a burial insurance carrier that will give you a modified policy on 30% (Year one), 70% (Year 2) then 100% after year 2 as far as coverage. Feel free to contact us to find out more. If you have other health issues like alzhiemers or gastrointestinal disease than a guaranteed issue life insurance policy may be the only option. Is COPD Classed as a Critical IllnessOverall, Chronic Obstructive Pulmonary Disorder can be considered a disability. In fact, any health impairment that causes substantial limiting or quality of life would be considered under ADA guidelines. However, when it comes to “critical illness” insurance such as heart, cancer, this would be covered if these were caused by COPD. You should check with your life insurance professional to find out more. ConclusionCOPD is a chronic lung condition that can have many different symptoms. According to the Center for Disease Control, you’re at risk of contracting COPD if you smoke cigarettes or are exposed to secondhand smoke on a regular basis. If this sounds like something that could happen to you in the future, it might be time to get life insurance now. We hope our list has helped guide your decision about which type of life insurance plan would work best with your current and potential health risks! Give us a call today so we can help find an affordable option that will provide financial security for years into the future. Have any other questions? Just ask! About Danny RayI am a life insurance expert that specializes in final expense, critical illness, Medicare Supplements, and term/UL policies. With almost 3 decades of dedication to thousands of clients, I share my knowledge with you so that you can feel comfortable fulfilling your needs and goals. I am licensed in all 50 states and represent almost three dozen A/A+ rated carriers. You can feel confident that you will not find a better option or a better agent than me. Is COPD classed as a terminal illness?Is COPD considered a terminal illness? COPD is not a terminal illness but a chronic disease that gets worse over time . Although there is no cure for COPD, the illness can be successfully managed especially if it's recognized early.
Is COPD a permanent illness?The damage to the lungs caused by COPD is permanent, but treatment can help slow down the progression of the condition. Treatments include: stopping smoking – if you have COPD and you smoke, this is the most important thing you can do. inhalers and medicines – to help make breathing easier.
What should you not do if you have COPD?Your lungs are more sensitive when you have COPD, so it makes sense to stay away from anything that can irritate them. That includes secondhand smoke, air pollution, car exhaust, chemical fumes, bug spray, paint and varnish, cleaning products, mold and mildew, wood smoke, and dust.
Can you live a long normal life with COPD?Many people are able to maintain a good quality of life while living with chronic obstructive pulmonary disease (COPD).
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Can you get life insurance if you have copd
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