Around 1 in 12 people (25 million people) in the US have asthma, and the numbers continue to increase every year. For these 25 million Americans, life insurance might seem like an impossibility because their condition could mean higher premium prices. And while having asthma does affect life insurance because it’s a pre-existing health condition, you probably won’t get denied coverage because of it. The best way to get life insurance if you have asthma is to compare policies offered by different life insurance companies.
Asthma & Life Insurance
When you apply for a life insurance policy, insurers will review your medical history in order to see how healthy you are, and determine if they want to offer you a policy. Pre-existing health conditions mean you’ll be a higher risk to insure for the long term, and since asthma is considered a pre-existing health condition, having it might raise your rates slightly. But it does depend on how severe your asthma is. 
If you have asthma and are looking for a policy, insurers will typically ask the following questions:
- When were you first diagnosed with asthma?
- How frequent are your asthma attacks?
- Are you on any medication for it?
- Do you take your medication as prescribed?
- Have you ever been hospitalized due to your asthma?
- Does asthma limit any of your activities?
- Do you smoke or have you ever smoked?
After you have answered these questions, the insurer will determine your rate based on several factors, including how severe your asthma is and the insurance company’s policy on asthma. It’s important to remember that different life insurance companies will view different health conditions differently. Some life insurance companies will consider asthma as a more severe condition, while others will not.
Asthma & Life Insurance Classifications
Typically your rate class will be based on the type of asthma you have. If you have Mild Bronchial Asthma, in which your lungs are clear and your asthma is mild, you could be approved at Standard or even Preferred rates.
If you have Moderate Bronchial Asthma, meaning your asthma is chronic, and you have slight wheezing and acute episodes that need to be treated by spray or injections, you may be approved at Standard rates.
If you have Severe Bronchial Asthma, and you exhibit severe episodes of asthma and are treated by hospitalization and chronic steroid use, you may be approved for Substandard rates, which are generally the highest rates.
Need Help?
Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. There are many great affordable life insurance options to choose from – even if you have asthma – that will provide enough money for your family, for a low monthly price. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.
