No need to worry, you can still get approved for life insurance at affordable rates!
Asthma is defined as “a chronic inflammatory disorder of the airways” and currently affects over 24 million people in the US.
This inflammation of the airways results in an “asthma attack”, that causes a tightening in the chest that makes breathing difficult.
The rate that you will receive on your life insurance with asthma depends a lot on what degree of asthma you have. The different degrees of asthma are categorized into 4 different classes:
Seasonal Asthma – You can expect preferred best with seasonal asthma. Seasonal asthma occurs a few times a year around the changing of the seasons. This type of asthma is usually caused by pollen or other climate conditions. Many people take medication during these times of year to help with this condition.
Mild Asthma – Preferred rates are to be expected from most mild asthma cases. This type of asthma can be defined as having infrequent attacks the do not require hospitalization. Mild asthma can be easily treated with inhalers or oral medication.
Moderate Asthma – With moderate asthma, the best rating you can expect is a standard rating class. Moderate asthma can be defined as having more frequent attacks that result in an occasional visit to the hospital or emergency room. This type of asthma usually requires medication such as nebulizers, oral medication and steroid based inhalers. Preferred rates are possible if your condition is improving , it has been over 5 years since you were last hospitalized for asthma, and you are taking medication on an “as needed” basis.
Severe Asthma – Severe asthma is defined as having frequent “severe” attacks that require regular doctor and hospital visits. Severe asthma is usually treated with a regimen of medication including steroids. Standard table 2-4 is usually associated with this degree of asthma. The rating will be based on a different factors that will help determine the severity of your condition.
- Date of diagnosis?
- Category of asthma diagnosed?
- Do you know what leads to the asthma attacks?
- What is the frequency of your attacks during the last year? 2 years? 3 Years?
- Have you ever been hospitalized for asthma? If so, date, circumstance, and length of time in hospital?
- What medications are you currently taking? Date used? Quantity? Frequency?
- Do you smoke? Have you in the past?
As always be open about your condition with your insurance agent. Having more information about your condition will lead to having a more accurate life insurance quote, as well as being place with the right insurance carrier.
Here is a table with common rates to be expected for someone with asthma:
Table is for a 30 year $250,000 policy
|Sex||Age||Preferred Plus||Preferred||Standard||Standard Table 2||Standard Table 4|