When you apply for Life Insurance, asthma will not typically be viewed as a serious medical condition. Whilst we all know that asthma can have very serious implications to an individual, for the purpose of insurance applications the condition is looked at in a favourable manner. When you have asthma Life Insurance applications will need to detail how many attacks you generally have, medications that you use (especially oral steroids), any overnight hospital admissions that you have had and if you have had any time off work.
Mild symptoms that are controlled with inhalers will typically result in a policy being offered at normal terms. Where oral steroids have been in use for more than a week, you are a heavy smoker, you have been admitted to hospital or you have multiple asthma attacks in a week, insurers may decide to increase your policy premiums. Very severe symptoms of asthma that occur on an almost continual basis could result in your policy being accepted with increased premiums, or the application declined.
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Critical Illness Cover
Critical Illness Cover for people with asthma will also generally be viewed in a positive manner by most insurers. When it comes to the underwriting of Critical Illness Cover for asthmatics ordinary rates are typically available to those with minor symptoms, with no hospital stays and no time off work. Once the condition is noted to present itself more frequently, there are possible hospital stays and time off work, then the policy may be accepted anywhere from standard terms through to a decline. It will take quite severe symptoms before an application reaches that of a decline so please do not be put off by this, we just like to make sure that you are fully aware of the terms that could be offered.
For most asthmatics Critical Illness Cover will be available with ordinary rates or slight premium increases where the symptoms are severe.
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Asthma Income Protection policies are underwritten more strictly than the previous two insurances discussed above. Asthma that causes one attack or less or week could be accepted at standard terms. For those with daily symptoms, recent steroid use or hospital admission then it is possible that your policy will come with at least a small premium increase, but again could be declined if the condition is considered very serious.
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You also may wish to consider Accident, Sickness and Unemployment Cover that will provide you with short-term income protection of between 12 and 24 months. The policy is not medically underwritten so your asthma will not impact upon the policy premiums or your eligibility for the policy. However, you must be certain that you fully understand that any claim made on the policy will be subject to medical evidence and any asthma related conditions will be excluded from your claims potential.
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Some potential problems experienced by individuals who have asthma include:
- Sensitivity to allergens
- Difficulty exercising
- Emotional triggers e.g. laughing, stress, etc
- Aminophylline (Phyllocontin)
- Bambuterol (Bambec)
- Beclometasone dipropionate/Formoterol fumarate dihydrate (Asmabec, Beclazone, Clenil Modulite, Foradil, Fostair)
- Budesonide (Entocort, Pulmicort, Rhinocort)
- Budesonide/Formoterol fumarate dihydrate (Symbicort)
- Dexamethasone sodium phosphate (Dexsol)
- Fenoterol/Ipratropium (Duovent)
- Fluticasone/Salmeterol (Seretide)
- Hydrocortisone Sodium Phosphate (Efcortesol)
- Hydrocortisone Sodium Succinate (Solu-Cortef)
- Ipratropium (Respontin)
- Ketotifen (Zaditen)
- Methylprednisolone (Medrone)
- Methylprednisolone acetate (Depo-Medrone)
- Methylprednisolone sodium succinate (Solu-Medrone)
- Nedocromil Sodium (Tilade)
- Omalizumab (Xolair)
- Prednisolone (Deltacortril)
- Prednisolone acetate (Deltastab)
- Prednisolone Sodium Phosphate
- Preventer Inhaler
- Reliever Inhaler
- Salbutamol (Asmasal)
- Salmeterol (Serevent)
- Sodium Cromoglicate (Intal)
- Zafirlukast (Accolate)