Many people believe that having a pre-existing condition such as asthma will automatically mean higher monthly premiums.
Worse yet, there are some individuals who think that these types of conditions can mean that they will be denied coverage over a healthy individual.
The insurance professionals at Genesage Life Quotes know the truth about pre-existing conditions and life insurance – these knowledgeable advisors are available to help you find a policy that both fits your needs and your budget.
What is Asthma and How is it Treated?
Asthma is categorized by the inflammation of the airways, or bronchi, found in the lungs that transport oxygen throughout the body. In an individual who suffers from this condition, these bronchi become swollen and restrict breathing when they come into contact with an irritant in the environment.
When this occurs it is commonly referred to as an asthma attack. Symptoms of an asthma attack include difficulty breathing, wheezing, shortness of breath, and tightness or pain in the chest.
The exact cause of asthma is unknown but there are a number of theories as to how this condition develops in individuals. Some explanations draw a link between asthma and family medical history while others associate asthma with other allergies or allergic reactions such as eczema.
Environmental factors are also thought to contribute in some way to the development of asthma in certain individuals in connection with both medical history and other known allergies.
Just like there is no known cause for asthma, there is also no definite cure. There are, however, a number of medications and devices that help to manage and lessen the symptoms of this condition.
Treatments for asthma attack prevention and symptom management include medications, oral steroids, and different types of inhalers. Additionally, medical professionals may do testing to determine what specific irritants cause an individual’s attacks and work with them to make lifestyle changes.
Asthma and Life Insurance Applications
Generally, the presence of a pre-existing condition such as asthma will increase premium payments based on the severity of the condition and how well it is being managed by the individual.
Asthma is a very common condition and is usually diagnosed as early as childhood, not to mention this condition is also well managed by a number of different methods. These factors allow insurance companies to grant individuals with asthma “stand term” insurance and premiums will not be increased.
In the rare case where the condition is more severe or has resulted in hospital attention, insurance companies may opt to grant applicants what is known as “rater premiums.” Rater premiums generally carry higher monthly payments to offset the higher risk an individual poses to the insurance company.
If the severity and management of the condition are unclear, insurers will ask the applicant for additional medical information regarding treatment and symptoms in order to make an informed decision.
Every insurance company is different in its policies and procedures for handling applicants who have pre-existing conditions. Because of this, it is important to research different insurance policies and insurance companies to make sure you are receiving a fair rate and purchasing the right coverage for your unique situation.