Life insurance companies always use two primary criteria to set the rates for life insurance policies. The first is your age at the time of the application, and the second is your current and previous health conditions.
Yes, there are insurance companies that offer products that do not take health conditions into consideration, but these products are priced significantly higher than fully-underwritten products because of the unknown health risk.
Health issues like asthma can have an impact on your cost of life insurance but the seriousness of your condition will be taken into consideration. As you’ll learn below, people with mild asthma who live a generally healthy lifestyle can still get cheap rates on life insurance.
How Asthma Affects Life Insurance Rates
Many people with Asthma can qualify for preferred plus rates – the best health class available.
If you have seasonal (allergic) asthma or mild asthma without any recent asthma attacks, expect the condition to have little to no affect on your policy rates.
However, if you smoke and have asthma – expect substandard rates, which means your monthly payments will be higher.
What Is Asthma?
According to the American Academy of Allergy Asthma and Immunology, Asthma is a chronic disease involving the airways in the lungs and can be attributed to various events that will trigger the symptoms.
Exercise-Induced Bronchoconstriction (EIB)
Although exercise is certainly beneficial to one’s health, some people experience asthma symptoms that are directly related to physical exercise and other physical activity.
Many asthma sufferers have their symptoms triggered by allergies. In fact, individuals with a family history of allergies or asthma are typically more prone to developing asthma and suffering from the associated symptoms.
Millions of children and families are impacted by childhood asthma. Statistics show that the majority of children who suffer from asthma typically develop symptoms before the age of five. Although there is no cure, the condition can be managed with an appropriate treatment plan.
As long as your asthma is under control and there haven’t been any recent attacks, you can qualify for preferred rates for life insurance with asthma.
This form of asthma is the result of being exposed to gasses, fumes, or dust commonly found in certain workplaces.
Although asthma symptoms vary according to the type of asthma you have, the most common symptoms are:
§ Coughing (primarily in the evening)
§ Continuous wheezing
§ Shortness of breath
§ Tightness, pain, or pressure in the chest
Regardless of the type of Asthma you have, you can get very affordable rates.
It wasn’t long ago that life insurance companies would only offer “Standard” rates to those with Asthma, so if you purchased life insurance more than a few years ago and have your asthma under control, make sure you compare rates today.
3 Best Life Insurance Companies for People with Asthma
When shopping for life insurance with asthma, it’s always best to compare policies from multiple companies to make sure you’re getting the best rates possible. Generally, these are the top 3 carriers for people with asthma.
Note: We do not always recommend one of the companies above for people with asthma. Depending on your age, health, and other factors, another company may be a better fit. Use our quote tool and call us to compare dozens of life insurance companies.
How to Apply for Life Insurance with Asthma
Just like any other purchase you make, it is always best to compare quotes from different carriers. People with asthma who need life insurance have dozens of options and it’s important to make sure you’re getting the right policy for yourself and your family.
The easiest way to begin the application process is to work with an independent agent like us. We have no affiliation with a particular life insurance company and will compare policies from over a dozen carrier to make sure you get the best life insurance with asthma
As principal licensed life insurance agent Bennett Bier has helped 1000’s of people purchase life insurance online & over the phone. During his career he has become the go to expert for securing hard to place term and permanent life insurance policies for clients across the nation. With his wealth of knowledge of each life insurance carrier’s products and underwriting he provides honest answers and advice to every client. Bennett Bier and his team will work tirelessly to successfully secure the coverage your family deserves.
All content on this site has been written by life insurance experts & licensed life insurance agents.