Securing Life Insurance with Lupus: A Guide to Understanding Coverage and Rates in Canada
If you have been diagnosed with Lupus, you can still get a great life insurance policy.
14 minute read
Originally published: January 26, 2023
Securing Life Insurance with Lupus: A Guide to Understanding Coverage and Rates
If you have been diagnosed with Lupus, you can still get a great life insurance policy.
14 minute read
Originally published: January 26, 2023
Life insurance is an important consideration for anyone, but it can be especially important for those with a chronic illness like lupus. Lupus is an autoimmune disease that can affect various parts of the body, including the skin, joints, and organs. Because of the potential impact that lupus can have on a person’s health, obtaining life insurance may be more difficult, but it is not impossible. It is important for individuals with lupus to work with an experienced insurance agent and to be honest about their condition in order to find coverage that meets their needs.
Being diagnosed with lupus can have a significant emotional impact on individuals and their families. Along with the physical symptoms of the disease, the uncertainty of the future can add to the stress and anxiety of those affected. A common misconception is that a lupus diagnosis automatically disqualifies someone from obtaining life insurance. However, this is not true. A common question we get from our clients is “can I get life insurance if I’ve been diagnosed with lupus?”
The answer is yes! You can get life insurance even if you have been diagnosed with lupus.
In this article:
- Overview of Lupus
- What Information Should Be Disclosed to Life Insurance Companies Regarding a Lupus Diagnosis?
- What Type of Questions Will Insurance Companies Require About My Lupus Diagnosis During the Application Process?
- Life Insurance with Lupus
- When Is the Best Time To Apply for Life Insurance?
- How Much Is Life Insurance With Lupus?
- Frequently Asked Questions (FAQs) about Life Insurance with Lupus
Overview of Lupus
Lupus is a chronic autoimmune disorder that causes inflammation and damage to various parts of the body, including the skin, joints, and organs. The exact cause of lupus is not known, but it is thought to be a combination of genetic, environmental, and hormonal factors. There is no cure for lupus, but treatment can help manage symptoms and prevent complications. Treatment options may include nonsteroidal anti-inflammatory drugs, immunosuppressants, and corticosteroids. It is important for individuals with lupus to work closely with a healthcare provider to manage their condition.
Symptoms of lupus can vary widely and can include fatigue, joint pain and swelling, skin rashes, fever, and hair loss. Some people with lupus may also experience more severe complications, such as kidney damage, neurological problems, and blood disorders.
Living with lupus can be challenging, as symptoms can be unpredictable and may fluctuate in severity. However, with proper treatment and support, many people with lupus are able to lead active and fulfilling lives. Support groups and therapy can also be helpful in managing the emotional and psychological aspects of living with a chronic condition.
Types of Lupus
There are several different types of lupus, which can be broadly categorized into two main categories: systemic lupus erythematosus (SLE) and cutaneous lupus erythematosus (CLE).
- Systemic Lupus Erythematosus (SLE) is the most common and most severe form of lupus. It can affect multiple organs and systems in the body, including the skin, joints, kidneys, brain, heart, lungs, and blood vessels. Symptoms of SLE can include fatigue, joint pain and stiffness, skin rashes, fever, and organ damage.
- Discoid Lupus Erythematosus (DLE) is a form of cutaneous lupus that is limited to the skin. It causes a rash that typically appears on the face, scalp, or ears, and can cause scarring and discoloration of the skin.
- Drug-induced Lupus Erythematosus (DILE) is a form of lupus that is caused by certain medications, and symptoms typically go away after the medication is discontinued.
- Neonatal Lupus Erythematosus (NLE) is a rare form of lupus that affects newborns. It occurs when a mother with lupus passes the disease on to her baby.
- Subacute cutaneous Lupus Erythematosus (SCLE) is a form of cutaneous lupus that primarily affects the skin, characterized by annular (ring-shaped) and scaly rashes, which are usually on the chest, back, and upper arms.
- Lupus Nephritis is an inflammation of the kidneys caused by lupus and can result in kidney failure.
It’s important to note that each person with Lupus may have unique symptoms and it’s important to work with a rheumatologist to determine the type of Lupus that a person has.
What Information Should Be Disclosed to Life Insurance Companies Regarding a Lupus Diagnosis?
When applying for life insurance with a lupus diagnosis, insurance companies will typically ask for the following information:
- Medical history: Insurance companies will want to know about your medical history, including when you were diagnosed with lupus, any symptoms you experience, and any treatments or medications you are currently taking.
- Current health status: Insurance companies will also want to know about your current health status, including your overall physical condition, any recent lab test results, and any hospitalizations or surgeries you may have had.
- Lupus severity: Insurance companies will need to know the severity of your lupus, including the type of lupus you have, any organ involvement, and the level of your disease activity.
- Treatments and Medications: Insurance companies will also want to know what treatments and medications you are currently taking, how well they are working, and if you have any side effects.
- Work and lifestyle: Insurance companies will also want to know about your work and lifestyle, including your occupation, any hobbies or activities you participate in, and any travel plans.
To learn more about what it’s like to apply for life insurance with a dangerous occupation check out: Applying for Life Insurance with a Dangerous Occupation
What Kinds of Questions or Information Will Insurance Companies Ask or Be Interested In?
When applying for life insurance with a diagnosis of cirrhosis, insurance firms will ask or be interested in a variety of information to assess the risk of insuring you. The specific questions or information that they will ask or be interested in may vary depending on the insurance firm, but generally they will include:
It is important to be honest and accurate when providing this information to the insurance company, as failure to disclose relevant information or providing false information can result in denied claims or cancellation of the policy.
What Type of Questions Will Insurance Companies Require About My Lupus Diagnosis During the Application Process?
When applying for life insurance with a lupus diagnosis, insurance companies may ask a variety of questions to assess your risk and determine the terms and premium of your policy. Some of the questions that insurance companies may ask include:
- When were you first diagnosed with lupus?
- What symptoms do you experience?
- What type of lupus do you have?
- Are any organs involved?
- What is the level of your disease activity?
- What treatments or medications are you currently taking?
- How well are they working?
- Do you have any side effects?
- Have you ever been hospitalized or had any surgeries related to lupus?
- Are you currently working?
- Are you planning to travel abroad?
- Have you ever had any other serious health conditions?
It is essential to be honest and accurate when answering these questions, as failure to disclose relevant information or providing false information can result in denied claims or cancellation of the policy.
Life Insurance with Lupus
When applying for life insurance with lupus, insurance companies will likely consider factors such as the severity of the disease, the individual’s overall health, and any treatments or medications they are currently taking. Individuals with well-controlled lupus and no significant complications may be able to qualify for standard life insurance rates. However, those with more severe forms of the disease or significant complications may be considered high-risk and may have to pay higher premiums or be denied coverage altogether.
Despite these potential challenges, there are options available for individuals with lupus who are looking to purchase life insurance. Some insurance companies may offer guaranteed issue or simplified issue policies, which do not require a medical examination or ask about pre-existing medical conditions. However, these policies typically come with higher premiums and may have lower death benefits.
Another option for individuals with lupus is to look into accelerated death benefit riders, which allow policyholders to access a portion of their death benefit early to cover expenses related to a chronic illness.
Term Life Insurance
Term life insurance is a type of life insurance that provides coverage for a specified period of time, such as 10, 20, or 30 years. It is typically less expensive than permanent life insurance, such as whole life or universal life, and is often the preferred option for individuals looking to provide financial security for their loved ones in the event of their death.
For individuals living with lupus, term life insurance can be an option, but the process of obtaining coverage may be more complex than for those without pre-existing medical conditions. Insurance companies will likely consider factors such as the severity of the disease, the individual’s overall health, and any treatments or medications they are currently taking.
Individuals with well-controlled lupus and no significant complications may be able to qualify for standard term life insurance rates. However, those with more severe forms of the disease or significant complications may be considered high-risk and may have to pay higher premiums or be denied coverage altogether. Some insurance companies may also exclude death caused by Lupus in their policies.
It’s important to keep in mind that term life insurance policies can have exclusions for deaths that are directly caused by Lupus.
To find the best term life insurance policy with lupus, it’s important to shop around and compare different options. It may also be helpful to work with an insurance agent or broker who has experience working with individuals with pre-existing medical conditions.
Additionally, it’s important to note that many policies have an option to convert term life insurance to permanent life insurance, which can be a great choice for those who may develop serious complications of lupus later on.
Guaranteed Issue Life Insurance
Guaranteed issue life insurance is a type of life insurance that does not require a medical examination or ask about pre-existing medical conditions. This type of insurance is typically available to individuals who have been denied coverage by other insurance companies or have difficulty obtaining coverage due to a pre-existing medical condition such as Lupus.
Guaranteed issue life insurance policies typically have lower death benefits than traditional policies and higher premiums. Additionally, the policies may have a waiting period before the death benefit is paid out, usually 2-3 years. During this period, if the policyholder dies due to any reason, the beneficiaries will not receive the death benefit.
It’s important to note that guaranteed issue life insurance policies are not available to everyone, and some insurance companies may not offer them or have specific requirements that need to be met.
For individuals with Lupus, guaranteed issue life insurance can be an option if they have been denied coverage by other insurance companies or have difficulty obtaining coverage due to their pre-existing condition. However, it’s important to keep in mind that the death benefits are typically lower and the premiums are higher than traditional policies.
When Is the Best Time To Apply for Life Insurance?
It is recommended to apply for life insurance when your Lupus has been in remission for at least six months, as well as if you are regularly taking medications and taking steps to control your disease. However, it is important to be honest about your condition and not exaggerate the severity of your disease or the length of time in remission when applying for insurance. While it may be more challenging, it is possible to obtain life insurance with Lupus by researching and working with the right insurance companies.
Working with an independent insurance agent can save you time and effort in your search as they have access to quotes from multiple companies and have knowledge of which ones have better standards for those with Lupus. They can provide you with rates from over 50 companies.
What Steps Can I Take To Secure the Most Suitable Life Insurance Policy for My Needs?
If you have been diagnosed with cirrhosis, there are several steps you can take to help ensure that you get the most suitable life insurance policy for your needs:
- Work with a reputable insurance agent or financial advisor: An experienced professional can help guide you through the process of applying for life insurance and can help you find a policy that fits your needs and budget.
- Be honest and upfront about your condition: It is important to disclose your cirrhosis to the insurance company. Failure to disclose a pre-existing condition can result in the denial of a claim or cancellation of your policy.
- Gather your medical records: Collect all your medical records, including lab results, treatment plans, and medications to present to the insurer.
- Shop around and compare different policies: Compare different policies and premiums from different insurance providers. Be sure to read the fine print and understand the exclusions and limitations of each policy.
- Provide additional information that can help your case: Provide information that demonstrates your overall health and well-being, such as recent lab results, physical activity levels and any other information that can help to mitigate the risk of your cirrhosis.
- Be prepared to answer questions: Be prepared to answer questions about your medical history, treatment plan, and lifestyle habits.
Keep in mind that the best life insurance policy for you is not always the one with the lowest premium, it’s the one that provides the best coverage for your specific needs.
How Much Is Life Insurance With Lupus?
The cost of life insurance with lupus can vary depending on a number of factors, including the severity of the condition, the individual’s overall health, and any treatments or medications they are currently taking. Generally, premiums for life insurance with lupus can be reasonable and affordable, and may be lower than you expect. However, it’s important to shop around and compare different options, as prices can vary from one insurance provider to another. Factors that can affect the cost of life insurance premiums include your age, the amount of coverage you need, the length of your policy, and whether or not you are a smoker. To take advantage of lower costs, it’s important to consider life insurance coverage as early as possible.
Obtaining life insurance with lupus can be more affordable by taking certain steps.
- Get coverage early, as taking out a policy at a younger age can result in lower premiums.
- Making lifestyle changes, such as reducing alcohol consumption or losing weight, can also help lower your premiums.
- Quit smoking
- Consider consulting with an expert or specialist advisor, who can help you find the best insurer for your specific situation.
Frequently Asked Questions (FAQs) about Life Insurance with Lupus
Obtaining life insurance with lupus is possible, but the cost and coverage may vary depending on the individual’s symptoms and severity of the condition. Finding affordable and adequate life insurance may be a challenge for people with lupus.
When applying for life insurance, it is important to disclose your lupus diagnosis and any relevant information about the condition to the insurance company. Failure to do so, known as non-disclosure, can result in denied claims or cancellation of the policy. If you receive a lupus diagnosis during the term of your policy, it is not mandatory to inform the insurance company, however, it is recommended as it may make the claims process easier for your beneficiaries and avoid any delay in the payment of the death benefit.
When applying for life insurance with lupus, it is important to keep in mind that the premiums and policy terms offered will vary depending on the frequency and severity of your symptoms. Different forms of lupus can have different primary symptoms, making it difficult to give a universal answer on how much lupus would affect your insurance.
As a complex autoimmune disorder, the symptoms of lupus can either be permanent, disappear or flare up occasionally, leading to tailored quotes specific to your situation. It’s important to disclose the full impact lupus has on your day-to-day life to avoid any issues with claims payouts.
If your symptoms are mild, and you’re in reasonably good health, you’ll find it easier to secure a life insurance policy at an affordable price. However, since different insurance providers may weigh your condition differently, it is important to compare all available quotes.
Yes, you may be able to qualify for a term life insurance policy if you have lupus, but the premiums and policy terms will vary depending on the frequency and severity of your symptoms and any other health condition.
It’s possible that a lupus diagnosis may affect the death benefit of a policy, as insurance companies will take into consideration the severity of the disease and any complications when determining the terms of a policy.
Individuals with mild symptoms of lupus may be able to qualify for standard life insurance rates, which can be more affordable than policies for those with more severe symptoms.
Individuals with lupus may qualify for several types of life insurance policies, including term life insurance and guaranteed issue life insurance. However, the terms and rates will depend on the severity of the condition and the individual’s overall health.
Find a solution for what you’re looking for
While having lupus can make it more difficult to obtain life insurance, it is not necessarily a disqualifying condition. The severity of the disease, the individual’s overall health and treatments or medications they are currently taking will be taken into consideration by the insurance company when determining coverage and rates. You can even get free professional advice from an award winning broker at Protect Your Wealth to help you identify and secure the right life insurance coverage you need to create financial stability and protect your family and assets.
To schedule a consultation about your income protection goals, or if you have any questions about insurance in Ontario or Canada, please contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today! We’re proudly based out of Hamilton, and serve clients anywhere in Ontario, British Columbia, and Alberta including areas such as Mississauga, Grande Prairie, and Kamloops.
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