Does Having Osteoporosis Mean You Will Be Denied Life Insurance Coverage?

Ross Quade | General | 26 Feb, 2016 | No Comments

Worried that being diagnosed with osteoporosis means you will be denied life insurance coverage?


Affecting over 54 million adults in the U.S. over 50 according to the National Osteoporosis Foundation, osteoporosis is a condition affecting countless Americans.


However, there is some good news. While being diagnosed with osteoporosis may increase premiums, individuals are rarely, if ever, denied coverage completely. In fact, many individuals with osteoporosis are able to qualify for coverage.

What are My Potential Options?

Curious what some of your potential options may be? While policies vary by provider, here are some of the following scenarios you can expect:


Best Case Scenario – If your osteoporosis is being treated and controlled with no major complications present, it is very likely that you will be able to qualify for a “standard” rate class.


SEE ALSO: Life Insurance Rate Classes: Here’s What You Need To Know


Moderate Case Scenario – If you have a history of bone weakness along with fractures, you may qualify for a lower rate class. Often, this will be referred to as a “mild substandard” or “substandard” rate class.


Factors that could Influence Your Options

A diagnosis is not the only factor that will be taken into consideration by insurers. In fact, the reality is that life insurance providers will want to review a number of aspects regarding your current well being in order to better gauge your health. To get an idea of these crucial elements, check out some of the most important factors below.


Age of Diagnosis – Insurers are going to want to know what age you were given the diagnosis. Typically, the longer you have had the condition the higher you can expect your premiums to be. However, this is not to say you cannot find affordable premiums with osteoporosis.


Other Medical Conditions – Insurers will also evaluate whether or not you have any additional medical conditions such as obesity, heart disease, etc. The fewer medical conditions you possess, the lower you can expect your premiums to be.


Destructive Habits – Destructive lifestyle habits and practices can also contribute to higher premiums. For example, smokers on average pay anywhere up to 2-3 times more for coverage.


Medical History – Family history is something that will also be taken into consideration by insurers. In fact, be prepared to provide medical records before being approved for coverage.


Prescribed Medications – Are you currently take any supplements or vitamins to treat your condition? If so, this can work in your favor when it comes to life insurance. After all, insurers like to see that you are managing your condition successfully.


Although these factors are by no means the only thing insurers will take into consideration, they are some of the most important.


How to Find Affordable Coverage?

Now that you have a better understanding of how your condition along with other factors may contribute to your insurance options, you are likely wondering where to start first.


After all, what’s the easiest and most affordable way to find the coverage you need?


Luckily, that is where can help. Providing a completely free platform to compare term life insurance quotes obligation free online, we make it easy for you to find the answers you need. In fact, with no personal information required, you will only need your zip code to get started.


Term life insurance, compare prices online securely


Featured image via Stepz


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