Anaemia is a very common form of blood disorder. There can be various causes to the condition with the most common being an iron deficiency in the body. Sometimes anaemia can also be related to the deficiency of vitamin B12 in the body.
Anaemia and Life Insurance
Life insurance policies are usually available for anaemia patients through standard life insurance providers. The cost of the insurance will vary depending on various factors some of which are related to your medical condition and some which are independent of it.
Some of the most common factors taken into consideration by the insurance underwriters are:
- The underlying cause of the condition
- The time of your diagnosis with the condition and the date from which the treatment for the same was initiated
- The form of treatment or any medication you take to aid the condition
- Your most recent blood test reports
- The symptoms you have and any other medical complication you have developed because of the condition
- If your condition required you to take significant time off work. If yes, for how long?
Sometimes the underwriters also seek your permission to obtain a medical report from your GP directly and they will also bear all expenses related to the same.
Depending on this report and how you answer the above questions and your other supporting documents the insurance providers will classify your medical condition as mild, moderate or severe.
In the case of mild anaemia, life insurance policies should be provided at standard rates of premium provided all your other contributing factors are considered ideal.
You may see a slight amount of percentage loading if you suffer from moderate anaemia.
In severe cases of anaemia, you might see a heavy loading on your insurance premium percentage. Your insurance application may also be denied.
What can you do in case your application is denied?
In case your application is denied because of medical reasons you can postpone applying for insurance until your medical condition improves.
Regular exercise, a proper check-up with medical professionals, proper treatment and controlling the underlying cause of anaemia can help improve your condition drastically.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00