Life Insurance With Restless Leg Syndrome or Essential Tremor

Restless leg syndrome (RLS) is a neurological disorder characterized by a strong need to move the legs, which is typically accompanied by uncomfortable sensations such as tingling, itching, or crawling, which normally worsen when you sit motionless or do not move. Similarly, essential tremor is a neurological condition marked by involuntary and rhythmic shaking, primarily affecting the hands but can also impact the head, voice, and other parts of the body. The tremors often become more pronounced during focused activities like writing, eating, or drinking and can be exacerbated by stress or fatigue.

In this blog, we’ll answer all of your frequently asked questions and concerns about life insurance for people with restless legs syndrome (RLS) and essential tremor in Canada, including information on eligibility, premium prices, and policy options tailored to those with these conditions.

In this article:

• Can I Get Life Insurance With Restless Leg Syndrome or Essential Tremor
• How Does Restless Leg Syndrome and Essential Tremor Affect Life Insurance in Canada
• Life Insurance Policies for Restless Leg Syndrome and Essential Tremor
  • Term Life Insurance
  • Permanent Life Insurance
  • No Medical Life Insurance
• Cost of Life Insurance With Restless Leg Syndrome or Essential Tremor
• Case Study Examples
• Frequently Asked Questions about Life Insurance With Restless Leg Syndrome or Essential Tremor

Can I Get Life Insurance With Restless Leg Syndrome or Essential Tremor

Yes, you are able to qualify for life insurance if you have restless leg syndrome or essential tremor. Like other pre-existing conditions, being diagnosed with one or both of these conditions may pose unique challenges to the life insurance process; however, options are available to ensure that even the most difficult-to-insure individuals can acquire life insurance in Canada.

Insurance companies will evaluate the severity and consequences of your condition on your overall health and lifestyle. They will likely request medical information, such as your diagnosis, treatment history, and how effectively you manage your symptoms. The severity of your condition, any other pre-existing medical issues, and your general health profile will all influence the type of policy accessible to you, as well as the premium rates. While most people impacted with restless leg syndrome will qualify for standard premium rates, those who are severely impacted or have poor overall health may face increased premiums and policy restrictions.

How Does Restless Leg Syndrome and Essential Tremor Affect Life Insurance in Canada

When determining how your eligibility for a certain life insurance policy may be impacted by restless leg syndrome or essential tremor, providers will often consider specific factors related to your condition. These include:

Here is a quick overview of the factors that can increase your risk to insure if you have restless leg syndrome or essential tremor:

Life Insurance Policies for Restless Leg Syndrome or Essential Tremor

Many people with restless leg syndrome (RLS) and/or essential tremor are still able to qualify for traditional life insurance. Traditional life insurance requires applicants to go through a medical examination and testing and can be underwritten as either permanent insurance or term insurance. However, if your medical condition is severe, your general health is poor, or you don’t qualify for traditional insurance for any other reason, you may want to consider no-medical life insurance.

The best life insurance for restless legs syndrome depends on a number of variables, including your budget, the duration of coverage you’re interested in, and your financial goals. Individuals with restless legs syndrome or essential tremor are able to choose from the following life insurance options:

Life Insurance Policies for Restless Leg Syndrome

Many people with restless leg syndrome (RLS) are still able to qualify for traditional life insurance. Traditional life insurance requires applicants to go through a medical examination and testing and can be underwritten as either permanent insurance or term insurance. However, if your medical condition is severe, your general health is poor, or you don’t qualify for traditional insurance for any other reason, you may want to consider no-medical life insurance.

The best life insurance for restless legs syndrome depends on a number of variables, including your budget, the duration of coverage you’re interested in, and your financial goals. Individuals with restless legs syndrome are able to choose from the following life insurance options:

Term Life Insurance

Term life insurance provides coverage for a specific time period, such as 10, 20, or 30 years. You pay monthly or annual premiums, and if you pass away while the policy is active, your beneficiaries receive a death benefit. These plans can typically be renewed or converted to a permanent life insurance policy until a specified age. Term life insurance can help people with restless leg syndrome (RLS) or essential tremor provide financial security for their loved ones.

Benefits of Term Life Insurance:

Permanent Life Insurance

Permanent life insurance offers lifelong security and can generate cash value through universal or whole life policies. While the premiums are often more expensive than term life insurance, this option provides long-term financial protection. Permanent life insurance offers individuals with restless leg syndrome (RLS) or essential tremor ongoing coverage and financial protection.

Benefits of Permanent Life Insurance:

No Medical Life Insurance

Canadians with Restless Leg Syndrome may benefit from no medical life insurance if they experience more severe symptoms that affect their health and daily functioning. This type of insurance does not require a medical exam or an attending physician statement and asks limited or no medical questions. As a result, it is much easier to qualify for than traditional term or permanent life insurance policies. 

No medical life insurance is a good option for those with restless leg syndrome or essential tremor who may struggle to qualify for traditional life insurance owing to their health, career, lifestyle, or other reasons.

Benefits of No Medical Life Insurance:

Cost of Life Insurance With Restless Leg Syndrome or Essential Tremor

If you have restless leg syndrome (RLS) or essential tremor and are considering no-medical life insurance, knowing the costs can help you decide what’s best for you. Here are the monthly premiums for simplified issue life insurance from Assumption Life and Canada Protection Plan for Canadians aged 20 to 70:

Case Study Examples

Case Study #1: Jessica

Jessica is a 35-year-old married woman with two children. She is interested in obtaining simplified term life insurance to provide financial protection for her family. Jessica has restless leg syndrome and is a smoker, which affects her overall health and life insurance eligibility.

Here is what Jessica considers when determining her coverage needs:

1. Jessica and her husband have a mortgage of $300,000 with a term of 20 years. Ensuring the mortgage is covered in case of her untimely death is a top priority.
2. With two young children, Jessica wants to ensure that their financial needs are met, including education and daily living expenses. She estimates needing an additional $200,000 for this purpose.

Total Coverage Needed: $500,000

Jessica’s restless leg syndrome and smoking habits make it challenging to qualify for a traditionally underwritten life insurance policy with favorable premiums. Simplified issue term life insurance is a suitable option as it requires fewer medical questions and no medical exam, making the application process quicker and more accessible for individuals with medical conditions and health risks.

After speaking with a knowledgeable life insurance broker Jessica successfully secures a simplified issue term life insurance policy with a coverage amount of $500,000 and a term length of 20 years. The premiums are affordable, and the policy provides the necessary financial protection for her family. Additionally, Jessica plans to revisit her insurance options at the end of her term once she quits smoking and improves her health, potentially qualifying for lower premiums in the future.

Case Study #2: Benny

Benny is a 60-year-old married man with children. Although he has been diagnosed with essential tremor, he is in good overall health, and the condition does not severely impact him. Benny is interested in securing permanent life insurance so he can lock in a premium rate and to help cover the estate taxes on a cottage he wishes to pass on to his children.

Benny considers several factors to determine his coverage needs:

• He wants to ensure the estate taxes on his cottage are covered so his children can inherit it without financial burden, he calculates this will be around $150,000.
• He also wants to put aside $50,000 for his wife to help put towards funeral costs and to help her maintain their current lifestyle if he were to pass away.

Benny discusses his situation with a knowledgeable life insurance broker. They review his essential tremor diagnosis and overall health, concluding that he can likely qualify for a traditionally underwritten life insurance policy. This type of policy typically requires a medical exam, but given Benny’s good health, it should not pose significant difficulties.

Benny successfully secures a traditional permanent life insurance policy. This policy provides him with the coverage he needs to ensure his estate is managed according to his wishes and offers financial security for his family. With this plan in place, Benny can rest easy knowing his loved ones will be protected and his cottage will be passed on without financial complications.

Frequently Asked Questions (FAQs) About Life Insurance With Restless Leg Syndrome or Essential Tremor

Find a Solution That’s Right for You

If you have restless leg syndrome, essential tremor, or any other condition and have any additional questions or need help applying for life insurance, please contact one of our skilled financial advisors. Our team is here to help you navigate the complexity of life insurance, ensuring that you get the coverage that best meets your needs and gives peace of mind for you and your loved ones.

At Protect Your Wealth, we analyze policies and rates from Canada’s leading life insurance companies to discover the best policy for you. We provide specialist life insurance solutions such as no medical life insurance, critical illness insurance, disability insurance, term life insurance, and permanent life insurance to help you find the ideal package for your needs.

To set up a consultation about your income protection goals or if you have any questions regarding insurance in Canada, please contact us or call 1-877-654-6119 to talk with an expert now! We are proudly situated in Hamilton and service clients throughout Ontario, British Columbia, Manitoba, and Alberta, including Aurora, Kelowna, Calgary, and Portage la Prairie.