Worry Free Life Insurance with COPD
Because of the nature of the disease, purchasing affordable life insurance with COPD can be problematic. Since there is no known cure for COPD, the severity of the condition along with your overall health will be the determining factor in finding Worry Free Life Insurance with COPD and how much they will need to charge for it.
COPD: Symptoms, Treatment, and Prognosis
Since about 15 million Americans have been diagnosed with COPD, and another 12 million may have it but haven’t been diagnosed yet, the disease is well known to Americans all across the country.
What is COPD?
COPD is what happens when chronic bronchitis and emphysema intersect in a patient. When you breathe, the air travels through the tubes (airways) in your lungs to millions of very small air sacs. If the lungs are healthy, the airways are open, and so the air sacs fill up with the air you breathe in and then is quickly breathed out.
When you have COPD (chronic obstructive pulmonary disease), It becomes difficult to get air through your airways and then in and out of your air sacs. The disease will typically involve two major problems:
1. Chronic Bronchitis – Chronic bronchitis is an increase in coughing and the production of mucus which is caused by inflammation of the airways. It is considered chronic when a person coughs and produces considerable mucus during most days of a three-month period in a year for two consecutive years.
2. Emphysema – Emphysema occurs when there is damage to your air sacs or a collapse of the smallest breathing tubes in your lungs.
The Causes of COPD
Researchers know that cigarette smoking is the leading cause of COPD. In fact, smoking is considered to be responsible for 80 to 90% of all cases. They have also found that exposure to industrial pollutants for long periods of time make up the other 20%.
Both of these exposures can result in inflammation of the linings of the airways in your lungs and can also make the airways lose their elasticity.
Symptoms of COPD
The most common symptoms and signs of COPD are coughing that may produce mucus, shortness of breath, and fatigue. Typically, as the disease progresses, these symptoms are likely to become problematic. Since the disease is progressive with no known cure, it will get progressively worse over time and must be managed, so the patient will have a quality of life.
Treatment for COPD
Being diagnosed with COPD is concerning but certainly not considered the end of the world for the patient. Patients with a mild form of the disease will likely require only lifestyle changes such as quitting smoking, not being exposed to second-hand smoke, and ceasing to be in working environments where there is exposure to chemical pollutants.
For patients that continue to have symptoms of tightness in the chest and difficulty breathing, there are medications such as Albuterol and inhaled corticosteroids that can reduce inflammation of the airway and relax and dilate the bronchial tubes.
Patients that have severe and chronic symptoms will likely be treated with inhaled steroids, combination inhalers (combination of bronchodilators and inhaled steroids), Phosphodiesterase-4 inhibitors, Theophylline, and certain Antibiotics.
How will COPD Affect My Life Insurance?
The good news is that having COPD does not mean an automatic decline when you apply for traditional life insurance. In fact, applicants with mild cases of COPD often receive a standard rating or a rating slightly below standard.
Applicants with moderate COPD typically experience significant coughing and have bouts with shortness of breath. These symptoms will require some form of medication, and that usually results in a sub-standard rating if the application is accepted.
For applicants who are suffering from severe COPD, obtaining traditional life insurance is very difficult, and even if you are approved, the rate will be surcharged substantially. Applicants who are declined will need to consider “guaranteed issue” life insurance since there is no medical underwriting required having a policy issued.
Unfortunately, many applicants that have COPD may present other risk factors as well and may not be able to obtain traditional life insurance even with a mild form of COPD. Applicants who have COPD and continue to smoke will likely be declined as well.
Find an Agent who Specializes in High-Risk Cases
Just like health professionals that have certain specialties, most independent insurance agents have special areas that they specialize in and as a result are most successful in placing their cases.
Also take a look at our article Worry Free Life Insurance After a COPD Diagnosis
If you are attempting to buy traditional affordable life insurance and have been diagnosed with COPD, it is critical that you find an independent agent who has been successful in placing high-risk cases such as applicants with COPD.
The independent agents who specialize in high-risk cases will typically represent all of the highly-rated insurance companies that accept high-risk applicants and are likelier to approve an application. These agents will know in advance which insurer is more likely to offer coverage at standard rates or better. They will also represent the highly-rated insurers who offer “guaranteed issue” life insurance in case they are unable to get you approved for traditional life insurance.
What about No Exam Life Insurance
The life insurance companies that offer traditional life insurance without a medical exam requirement will still have many health questions on their insurance application. Even if you omit your COPD diagnosis on the application, the insurance company will likely discover your omission and then decline the application for misrepresentation.
Even if you can get by without disclosing your diagnosis and a policy is issued, if you die during the first two years (contestability period), the insurer will do an investigation and likely discovered your omission and deny the claim for misrepresentation.
If you are declined coverage for traditional life insurance, you can purchase a simplified issue policy with a few health questions and no medical exam requirement. We normally find folks that have been declined for coverage and we can find them 1st day benefits.
These programs have the following guarantees
1. First Day Coverage. You are fully protected the very first day your coverage goes into effect with no exclusions and no waiting period.
2. Ease of issue. No physical exams.
3. Your premiums will never go up. Lock into a rate at your current age and the cost will never increase regardless of changes to your health and age.
4. You benefits will never go down. Regardless of changes to your health and age.
5. All programs build cash values.
6. The benefit is paid to your beneficiary tax free on the worst week of their life.
7. Your policy can never be cancelled as long as premium payments are made.
8. This is a protected asset that you will never be forced to liquidate.
Seniors looking for a state regulated final expense life insurance policy or a whole life burial plan often have medical impairments and conditions that may raise the cost of these benefits. We keep track of these medical impairments and conditions and contract with several carriers so we can find the most benefits for the amount of money that you spend. Here we will review what we might see as we field underwrite the COPD medical condition. We can help you find first day coverage at a standard rate.
3 Top Reasons why folks use these programs
1. Because they do not have a DEDICATED amount for their funeral or final expenses
2. Because they’ve recently checked the pricing on what they currently have in place. They want to see if they can find more benefits than what they currently have.
3. Because they want to leave behind a legacy. Income for a surving spouse, money for grandkids, or to charity (Cancer Society, Church, etc)
Begin your online research to finding worry free life insurance with COPD by using our world class online quote engines.