A Guide for Dialysis Patients Purchasing Life Insurance
If you suffer from kidney disease getting life insurance could be a challenge. Most life insurance companies will not offer policies to those with pre-existing medical conditions, such as kidney disease. But, a few insurance companies will provide coverage provided you meet specific requirements. This article will explain how you can get life insurance for kidney disease. We’ll also go through the many insurance options that are available to you and the factors that insurance providers take into account before issuing coverage to those with medical issues.
Do I Qualify for Life Insurance for Kidney Disease?
Based on how severe your kidney issues are and what treatment plan you are, the potential to purchase life insurance.
If you are suffering from kidney problems, it’s good to consult an agent. We will take the online form and analyze it to identify the life insurance provider most accommodating to your kidney problems. Brokers aren’t bound to one particular life insurance company, which means they will be able to locate the best price for you.
We’ve worked with many people suffering from kidney problems, and our representatives will be there to assist you throughout the process. We would like you to get accepted for insurance for your life, and we’ll do our best to help you.
What Is Kidney Disease?
Numerous kinds of kidney disease exist, and it’s difficult to find life insurance suitable for dialysis patients. However, knowing the disease and prognosis will determine the type of insurance available and what’s not an insured kidney condition.
Types of Kidney Disease
- Abderhalden – Kaufmann – Lignac syndrome or Nephropathic Cystinosis
- Abdominal Compartment Syndrome
- Acetaminophen-induced Nephrotoxicity
- Acute Kidney Failure or Injury
- Acute Lobar Nephronia
- Acute Phosphate Nephropathy
- Hepatitis C
- Papillary Necrosis
- Glomerulopathy
- Ovarian Hyperstimulation Syndrome
Causes of Kidney Disease
- Diabetes
- High blood pressure
- Glomerulonephritis
- Polycystic kidney disease
- Infections
- Kidney Stones
- Heart Disease
What to Expect When Trying To Get Life Insurance With Kidney Disease
If you suffer from kidney disease, the life insurance application will evaluate according to kidney function test results. Suppose the tests indicate that your kidney’s function is worsening. In that case, you might not get coverage and will get placed in a high-risk category.
Acute Kidney Disease
You could still be eligible for life insurance if you have renal disease. If you suffer from acute kidney disease, the insurance company will take a good look at your application if you manage the condition well and regularly check in with a physician.
Chronic Kidney Disease
Chronic kidney disease can get classified into five stages: stage 1 has the highest success rate, and stage 5 is the most serious. When you apply for life insurance, your disease’s stage and treatment strategy will get carefully considered. Patients on dialysis are typically not thought to be insurable.
Kidney Transplant
Most life insurance companies would like you to wait a year to apply for insurance if you’ve received kidney transplants. It is because there’s less possibility for your body to reject your transplanted organ and cause issues.
Expect to Pay High Premiums
In the case of most transplant candidates and kidney diseases, Your application is considered high-risk. It means you’ll likely be required to pay an additional premium for life insurance.
What Happens If I’m Not Accepted?
The insurer denied even the life insurance application. You can still buy life insurance with an insurance policy that guarantees issues.
What Is a Guaranteed Issue Policy?
A guarantee issue policy is an insurance that doesn’t rely on your health. It means you’ll be able to obtain life insurance even when you suffered a stroke and get denied it before. However, you must consider some drawbacks before purchasing this kind of policy.
Many insurers who provide guaranteed life insurance policies with a guaranteed issue get limited on the death benefit.
If you die due to natural causes and your family members are affected, you must wait at least two or three years before your company will provide the full death benefit. However, most companies will pay out the equivalent of the premiums they have paid, plus 5-10%.? ? ? ? ? ? ? ? ? ?
Since the insurer is still determining your health, the insurer will cost you higher premiums for your life insurance than an insured who is more healthy.
Although there are some downsides with guaranteed life insurance that is issued, it’s an option better than having your loved ones help you pay for your final costs.
Do You Need Help with Getting Life Insurance Protection?
You’ll need a professional company like Ottawa Life Insurance if you’re suffering from an existing medical condition and want to purchase life insurance. So contact us at (613) 454-1424 or email us at info@ottawa-lifeinsurance.ca for further information.
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