As an applicant with Scleroderma, obtaining approval for life insurance can be daunting.
Some of our clients had narrated their horrible experience while trying to secure insurance coverage, and it shouldn’t be that way if you work with a qualified and experienced agency that works with riskier life insurance.
We help more people get affordable scleroderma life insurance, and below is the summary of what you should be expecting in this article.
- Life Insurance with Scleroderma
- The expected rates for you as an applicant with Scleroderma
- Case Studies of Life insurance with Scleroderma
- Guaranteed Acceptance Life Insurance is Always the Last Resort for Scleroderma
- Obtaining Life Insurance is a Possibility
Here Are the Few Things to Note Ahead
To get approved as a scleroderma patient for life insurance, the life insurer wants to confirm that Scleroderma has only affected local areas, such as the hands and face, and that Scleroderma is not moving too fast.
Life Insurance with Scleroderma
Scleroderma is very favorable for life insurance risks when it only affects the skin of the hands and face and progress slowly.
It does not spread fast and does not have severe complications.
Difficult life insurance cases for Scleroderma are called Limit Disease, which is also known as CREST syndrome.
A lot of companies will deny you insurance coverage for Scleroderma, but we can get coverage in most of these cases, which will be explained below.
You will have difficulty getting life insurance coverage if the Scleroderma is systemic and affects large parts of your skin and organs.
You are likely to get the best offer if you are someone who:
- Is very active
- Does not smoke
- Avoid a diet that can trigger heartburn.
- Does not expose skin to cold
The information below will be used in giving you a quote. Always avoid agents that would not ask questions like this from you. Agents who do not remember to inquire about these things are only guessing, and the rates that will be offered will only be to make money from you without them truly knowing the option that suits your situation.
- Smoking Status
- When you were diagnosed
- The scleroderma type and the part of the body affected
- Medications or treatment being taken
- Treatments and drugs that you have taken
- Any evidence of progression?
- The test result, whether Pulmonary or EKG
- Any other health conditions?
The Expected Rates for You as an Applicant with Scleroderma
Before knowing those things, you need to expect, you need to see the table ratings for life insurance.
This is an additional fee to the standard rate.
Usually, the tables are about 25% more expensive. Therefore, in table 2 rates, you should expect standard rates + 50% while table 4 is Standard Rates + 100%.
Do you now understand?
That being said, below is what you should expect for life insurance with Scleroderma when it comes to pricing.
The best case would be the localized Scleroderma; it is likely to be in Table 2. You can’t get preferred rates if you have Scleroderma.
CREST Scleroderma will be at least on Table 4, and possibly a decline under severe circumstances.
For localized and CREST scleroderma, if you take any steroids or immunosuppressive medications, then there will be an additional two tables to your rating.
If you are for a traditional insurer, automatically, you will be getting a decline for Diffuse systemic disease; however, we can offer you graded benefits.
If your Scleroderma has nothing to do with skin and only involves the organ, you will be getting declined by the traditional insurer. We also have graded death benefit policies in this regard.
Case Studies of Life insurance with Scleroderma
Case Study #1
A Male non-smoker, Age 58. He has Scleroderma diagnosis in the past eight years. Involves only the skin. There were no complications or a sign of progression. The documentation of favorable testing was consistent.
Through us, he was able to secure Standard rates with many insurers.
Case Study #2
A female non-smoker, Age 50. Has her CREST diagnosis in the last 13 months. Not progressive, mild, and no internal organs were involved. There was no treatment needed except the acid reflux treatment.
Initially, she got declined before working with us. And we were able to get a Table 3 rating, which she was happy about.
Guaranteed Acceptance Life Insurance is Always the Last Resort for Scleroderma
If your Scleroderma has progressed faster or affected more severe areas, as opposed to your hands or face, you may have difficulty obtaining approval for a traditional life insurance plan.
While this can be scary or leave you helpless, you must know there are many other options to consider for life insurance coverage.
Undoubtedly, the most common type of life insurance to consider when you are unable to obtain a life insurance coverage is guaranteed acceptance life insurance.
The policy does not require a medical examination, and your Scleroderma does not want to have any effect on your approvals.
As an alternative to a waiting period of 24 months for your insurance policy to be fully functional, you will not be asked any questions.
The coverage will typically be between $5,000 and $35,000 and, after the 24 months, your coverage will be fully functional and will work like any other life insurance policy.
Usually, we recommend companies like AIG, Gerber Life, or Sons of Norway Insurance Company if you want to go with this option.
In Conclusion, Obtaining Life Insurance is a Possibility
We have worked with many applicants with Scleroderma; therefore, we know which insurer will accept the risk
When you apply for an insurance coverage with Scleroderma, it is essential to work with an agency that has experienced when it comes to underwriting cases like this and with an agency that has several life insurers option for you.
The tips mentioned above will provide you with the best chance of getting approval for coverage at the most affordable price. We appreciate you allowing us to assess your risk, and you can be assured that we will offer the best offers available.