Worry Free Life Insurance with COPD taking Albuterol
Buying Worry Free Life Insurance with COPD taking Albuterol may be a challenge. Thankfully, there are several high-risk insurance companies that will consider offering coverage if the underwriting results appear favorable and your COPD symptoms are being well managed.
What can make the process even more difficult, however, is the medication you’ve been prescribed by your doctor or pulmonologist. The medications you take will indicate the stage of your illness and the symptoms that accompany it. Although there are many medications for patients suffering from COPD, for this article we will discuss a patient who has been prescribed Albuterol.
The Disease and its Symptoms
COPD (Chronic Obstructive Pulmonary Disease) is a condition that is manifested when the patient has Chronic Bronchitis and Emphysema. Although there is no cure for COPD outside of a lung transplant, most patients are able to manage their symptoms and have a quality of life. The disease does, however, get progressively worse over time.
Chronic Bronchitis: Chronic Bronchitis is when the lining of the bronchial tubes become inflamed because of external irritants like industrial pollutants, and especially cigarette smoke. When a patient is suffering from bronchitis, they typically exhibit a persistent cough and produce a large amount of mucus.
Emphysema: Emphysema is presented when the alveoli at the end of the small air passages of the lungs have been destroyed by exposure to cigarette smoke and other irritants like industrial pollutants and particulate matter.
Patients suffering from COPD present many different symptoms depending on the stage of their illness. Certainly, the medications prescribed are to manage symptoms, and as such, there are many to choose from. The most commons symptoms affecting most patients are:
• Shortness of breath, especially during and after any physical activities
• Wheezing and tightness in the chest
• Constantly having to clear your throat due to excess mucus
• Persistent coughing that may produce significant sputum
• Cyanosis (blueness of the fingernails and lips
• Frequent respiratory infections
• Unintentional weight loss
• Swollen legs, feet, and ankles
What is Albuterol and How Does it Help
Albuterol is a bronchodilator dilator that helps relax the muscles in a patient's airways resulting in an increase of air flow to the lungs. Albuterol is typically introduced using a rescue inhaler but may patients use it during the day using a nebulizer.
COPD patients need to have Albuterol on hand at all times since shortness of breath can happen at any time. The side effects from the use of Albuterol can be dangerous to some patients, and an overdose can be fatal. Patients should always inform their doctor before taking Albuterol if they have any of the following conditions:
hypertension, heart disease, or congestive heart failure
any type of heart rhythm disorder
diabetes, any type
overactive thyroid disorder
low levels of potassium
Because of the side effects from Albuterol and its dangers of overdose, the medication will have an impact on your classification and the resulting insurance rates.
The Impact of COPD and Albuterol on Life Insurance
The best news for applicants with COPD is that having the condition does not translate to an automatic decline. In fact, many applicants who have COPD in its mild stage and require an Albuterol rescue inhaler will likely get a standard rating or a slightly below standard rating as long as there are no other major health issues and they do not smoke.
This means that your insurer is willing to offer rates that are available to most people and that your premium will be very affordable. If, however, your COPD is in a moderate or severe stage, and you have been prescribed meds that contain steroids, you should expect a substandard rating or even a possible decline.
Checkout our article on Worry Free Life Insurance with COPD taking Spiriva
The Underwriting Process
Once your insurance underwriter is aware of your COPD, they are going to ask a lot of questions about your condition. You should expect and be prepared to provide the following:
• How long ago were you first diagnosed with COPD?
• Were you ever hospitalized or been in the ER because of your COPD?
• What lung issues are contributing to your condition: chronic bronchitis, emphysema, or asthma?
• Which diagnostic tests have you had recently and what were the results?
• Do you currently smoke and if so, how much? If you’ve quit, how long has it been?
• What medications are you taking and what dosage was prescribed?
It is critically important that you provide as much information as possible to your underwriter. Be sure and emphasize that you consistently follow your doctor’s advice and take your meds as scheduled. Let your underwriter know that you are managing your disease in order to slow its progression. It’s important to provide a positive picture of your situation if at all possible.
Your underwriter is also going to order an insurance medical exam along with blood and urine analysis to confirm your condition and to see if any other health conditions need to be considered. After all the information is in and has been reviewed by your underwriter, you should expect either a Standard rating or a Table Rating that reflects the severity of your conditions. If your underwriter cannot offer a policy, they will advise your agent.
What if I’m Declined?
If your underwriter is unwilling to offer a traditional insurance policy, your independent agent will be prepared to offer a simplified issue policy. With simplified issue life insurance, the insurance company asks health questions, and there is no exam. Typically, your insurance will be issued in a week rather than a month, and the policy will be Whole Life insurance with the same guarantees found in a traditional whole life policy:
o Death Benefit – Your policy will remain in force as long as you pay the periodic premiums.
o The premiums will not change because you get older or develop new health conditions.
o The insurer cannot cancel your policy unless you fail to pay the premiums.
o The policy builds cash value over time just like traditional permanent insurance.
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)
Yes, simplified issue life insurance will be significantly higher than traditional life insurance, but at least you will have insurance to pay for final expenses instead of leaving the debt to surviving loved ones.