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Hi, I’m 35 and have recently started having quite severe asthma attacks. My GP says I’m fine but I’m worried because I’m trying to buy a house and need to put mortgage protection in place. Can I get covered? Looking forward to your response, Dean
Breathing.
Most people take it for granted.
But for some, like our friend Dean, every breath in and out can be a struggle.
Fortunately, we got cover for Dean but we had to tread carefully because some insurers wanted to go to town on his premium.
Asthma is a common medical condition affecting the airways causing narrowing and inflammation, which currently troubles over 380,000 (or 1 in 13) Irish people.
It can lead to a build-up of mucus, making it difficult to breathe. Symptoms can include coughing, wheezing and shortness of breath.
It depends on the insurer you choose. Some are more understanding of this condition than others.
In most cases of mild asthma, you’ll pay the same price as everybody else.
For moderate asthma, you may pay a little bit more (again, choose your insurer wisely)
If you have severe asthma, you will pay more than normal.
Some insurers will increase the price you pay by 50%. Others will increase it by 150%!
Yes, because smoking aggravates asthma so this can cause an increase in your premium even for people living with mild asthma.
Irish life insurance companies rarely request a medical because they can usually decide based on your application form and asthma questionnaire.
However if you have been hospitalised within the previous five years or have had more than two episodes of oral steroids, the insurer will write to your GP for a report.
At the beginning of the pandemic, it was more difficult to get cover if you had a respiratory illness. Since the introduction of the vaccine, insurers are underwriting people with respiratory conditions as normal.
Somebody will mild asthma will be able to get both SIC and IP without any issue.
For moderate asthma, you’ll get cover but will pay more.
If you have severe asthma, the insurers are likely to refuse income protection and serious illness cover, unfortunately.
Please feel free to get in touch if you have asthma and want the best price on your life insurance or mortgage protection.
I’ll walk you through the application process, find the most understanding insurer and make sure you get the best coverage with the least amount of hassle.
If you don’t know your life insurance from your mortgage protection and would like me to make a recommendation, please complete this questionnaire, and I’ll be right back.
Alternatively, schedule a callback here and I can answer any questions you have.
Talk soon!
Nick
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