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How To Get Life Insurance with Thrombocytopenia

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Thrombocytopenia – granted it’s a big word, even bigger than marmalade, but it simply means you suffer from a low blood platelet (thrombocyte) count. It happens when platelets are lost from circulation faster than they can be replaced from the bone marrow where they are made.

But I guess you know this already so you’re wondering how it will affect your chances of getting life insurance or mortgage protection.

Listen up, here’s the deal:

Can you get life insurance with Thrombocytopenia?

The main effect of a reduced platelet count is an increased risk of bleeding, and this is why the insurers take a diagnosis of Thrombocytopenia seriously. As a result, you’re going to have to put in a bit of graft in order to find affordable cover.

Don’t worry, cover is still likely but the insurance providers take a wildly different approach when underwriting blood disorders. So it’s up to you (or your preferred expert advisor, cough, cough) to find you the most suitable insurer for your specific type of Thrombocytopenia:

Specific types of low platelet count include:

  • idiopathic (or immune) thrombocytopenic purpura (ITP)

Thrombocytopenia is the medical term for a low platelet count. Idiopathic means unknown cause. Purpura refers to the pin-prick bleeding under the surface of the skin that is a symptom of the low platelet count.

  • thrombotic thrombocytopenic purpura (TTP)

Similar to ITP but much rarer and is characterised by the formation of small clots (thrombi) within the circulation

  • haemolytic uraemic syndrome (HUS).

The least common form – usually involves kidney damage.

What does an insurer need to know about your Thrombocytopenia?

  1. When were you diagnosed with thrombocytopenia?
  2. Any hospitalisations?
  3. What’s your latest platelet count?
  4. Any symptoms such as bleeding, increased bruising or a petechial rash?
  5. Have doctors discovered the cause of your thrombocytopenia?
  6. How is your thrombocytopenia being treated?
  7. Do you have any other health issues?
  8. Are you taking any medications?
  9. Are there any upcoming invasive procedures?

The more information you can provide upfront the better. The insurer wants to offer cover but it’s up to us to convince them that you understand your condition is serious and that you’re managing it well.

With any complex medical condition, it’s so important to present your application in the best light. A failure to do so will result in a higher premium.

 How much does mortgage protection with a blood disorder cost?

It’s the dreaded “it depends”.

Cover for someone with ITP is going to cost less than for someone with TTP. And with ITP, your premium will range from standard (no loading) to a loading of +250%. In the most extreme cases, the insurer will decline.

To get the standard price, you’ll need to be in perfect health, have normal blood counts and have made a full recovery. I’ve never managed to get standard rates but I know it’s possible for the right person.

For well managed idiopathic (or immune) thrombocytopenic purpura, you’re looking at a loading of +50% / +100%. So if the standard price for someone with no health issues is €40 per month, you’ll pay €60/€80 per month.

Why it’s important to choose the right insurer for blood disorders:

As mentioned in the intro, we’ll need to put some work in before we choose an insurer to apply to.

Here’s a recent case study:

36 year old female in good health
Diagnosed with ITP 13 years ago
No symptoms save occasional bruising if she knocked off something.
Annual check-ups
Platelet Level 54,000 (moderate ITP)

Before she came to me, she’d been postponed by her bank due to her platelet count.

I discussed her case, anonymously with my insurers. All of them could offer cover but some of the loadings were ludicrious!

  • Insurers A and B could offer cover at +150% (€100 per month)
  • Insurer C @ +100% (€80 per month)
  • Insurer D @ +75% (€70 per month)
  • Insurers E & F @ +50% (€60 per month)

This was a 25 year policy so the savings of €40 per month between the insurers amounted to €12,000 over the life of her policy 😱

We went with Insurer E becuase they could offer cover based on the consultant’s report she provided so we avoided the rigmarole of a PMA.

Our client was delighted.

Over to you

Don’t let a blood disorder like thrombocytopenia discourage you from applying for life insurance or mortgage protection. Cover is available if you do your homework and use a specialist broker…with knowledge of the whole market.

That’s why I’m here, to guide you through the whole journey. From beginning to end.

There are quite a few insurers in Ireland, which means that you could spend ages stuck on the phone, pressing one for this, two for that, feeling your life slowly ebb away. And when you finally get to speak with someone they haven’t a clue about how thrombocytopenia affects life insurance. They’ll send you a 20 page form to complete, cross their fingers and hope for the best.

A pain in the…

 

Instead, let me do all of that hard work for you. Calling me is like contacting all the insurers at once. Where else can you get this kind of service?

I’m here waiting to help you. The next step is to either fill out this questionnaire or give me a call on 05793 20836

Chat soon…

Nick McGowan
lion.ie | making life insurance easier

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