Hi Nick, we applied for life insurance through another broker (sorry!) but my wife was hit with a huge price increase (twice the normal price) because she was recently diagnosed with rheumatoid arthritis. Our broker says he can’t get a lower price. Can you try to get us a better deal? Cheers, Eoin
Let’s examine why Eoin’s wife may have been hit with a price increase before we look at the other types of arthritis and how they may affect your application for mortgage protection, life insurance, income protection and serious illness cover.
When underwriting health conditions, life insurance underwriters like predictability. They are happy if they know a condition is under control and they have a fair idea of how it will progress.
Unfortunately, rheumatoid Arthritis is unpredictable; therefore, getting life insurance for Rheumatoid Arthritis is also unpredictable.
Rheumatoid Arthritis has a variable course and can be associated with changes in other systems, e.g. the eyes and lungs.
|Classification of rheumatoid Arthritis|
|Mild||There is little or no disease activity; peripheral joints are affected only, no disability uses non-steroid anti-inflammatory drugs only.|
|Moderate||Extensive joint involvement with relapsing-remitting symptoms, some limitation of movement, with frequent or continuous therapy.|
|Severe||Marked disease activity with frequent recurrences or prolonged attack, continuous multiple regimen therapy.|
Let’s say the normal price of your life insurance or mortgage protection for someone with no health issues is €50 per month.
You can get critical illness cover with mild and moderate rheumatoid Arthritis, but as with life insurance and mortgage protection, you will face a price increase depending on the severity of your condition.
Unfortunately, serious illness cover is not possible f you have severe rheumatoid Arthritis.
It’s possible for mild and sometimes moderate RA but on a case by case basis.
The insurance providers strictly underwrite income protection compared to mortgage protection, illness cover and life insurance.
There are five life insurance companies in Ireland.
Each one takes a different view of rheumatoid Arthritis. Some (as in Eoin’s case above) impose huge premium increases on life insurance with rheumatoid Arthritis. Others are more sympathetic.
Be sure to approach only the most understanding insurers, and avoid the rest.
The most common types of Arthritis that our clients need guidance on are:
It is possible to get the normal price for mortgage protection if you have any of these types of Arthritis.
Like Rheumatoid Arthritis, the insurers are most interested in the medication you take to treat the condition and whether any surgery is planned.
If your medication treats mild Arthritis, then the insurers aren’t too concerned. However, taking something like methotrexate will indicate a more severe form of Arthritis, so you will pay more.
If you would like more information on applying for life insurance with Arthritis or if you have any questions that are not answered above, please complete this questionnaire.
Armed with more information, I can discuss your case with my underwriters and advise which provider is most suitable, saving you time and money.
If you prefer a quick chat first, please schedule a callback
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