Most of the times when someone calls us requesting a quote for life insurance as a hemophiliac, they’re rarely going to dive into the details as to what “type” of hemophilia they have.
Few will actually realize that when applying for an ordinary whole life or term life insurance policy, the insurance underwriters are going to be very interested in the type of hemophilia that they have and will often underwrite their applications quite differently based on this information.
This is why it’s so important to learn what “type” of hemophilia a client has early on during the application process so that we can establish proper expectations from the get go!
Hemophilia is a medical condition where the patients blood lacks the ability to clot properly. As a result, those who have hemophilia, will tend to bleed severely from even the smallest cut or injury.
And while hemophilia isn’t a “super common” disease, there are nearly 200,000 cases diagnosed in the United States each and every year! This is why we’ll often get quite a few calls each month from hemophiliac clients that are having a difficult time qualifying for a traditional life insurance policy.
Symptoms associated with having hemophilia include:
- Difficulty healing after a cut or injury.
- Unexplained bleeding.
- Blood in the urine or stool.
- Prolonged menstruation cycles.
- Frequent nosebleeds.
- Swollen joints.
While there are no known cures for hemophilia, individuals will generally be able to live a “normal” life with the use of both blood clotting “enhancing” prescription medications as well as receiving the occasional IV fluids or blood transfusions.
What type of hemophilia do you have?
Hemophilia is an inheritable disease that is tied to the genes that control blood clotting, how those genes become mutated will dictate what “type” of hemophilia that you have.
The most common form of hemophilia is called hemophilia A or factor VIII hemophelia, but there are also 2 other types of hemophilia that one needs to be aware of because not all three types of hemophilia will be treated the same.
Hemophilia A or is the most common type of hemophilia seen in the United States and is the result of not having enough factor VIII within blood cells.
Individuals diagnosed with hemophilia A will generally be eligible for a traditional term or whole life insurance policy assuming that their condition is well managed and they do not require frequent blood transfusions.
These individuals will generally qualify for rates ranging from a Table A to a Table H, however for those with a severe or poorly managed case of hemophilia A, qualifying for a traditional life insurance policy may not be possible.
In cases like these, individuals may wish to pursue an “alternative” life insurance policy such as a guaranteed issue or simplified issue life insurance policy
With simplified issue no exam life insurance there are some health questions. However, no medical exam is required for approval and many of these simplified issue policies don’t do a background check into the medical information bureau or Rx database.
If you cannot get simplified issue, then guaranteed issue life insurance from one of the best final expense insurance companies may be your one and only option.
Hemophilia B is the second most common type of hemophilia and is someone times referred to as Christmas Disease or Factor IX Deficiency. Hemophilia B is also a hereditary bleeding disorder, only this time instead of factor VIII being the culprit, it’s factor IX.
And like those suffering hemophilia A, people who have been diagnose with hemophilia B will also usually be able to qualify for a traditional life insurance policy, only this time, they’ll usually qualify for a Table A to Table C rating.
Hemophilia C, also known plasma thromboplastin antecedent (PTA), or Rosenthal syndrome, is the least common type of hemophilia and most mild form of hemophilia.
Hemophilia C’s cause is related to a deficiency in factor XI and primarily occurs in individual with a genic heritage linked to the Ashkenazi Jews. Individuals diagnose with hemophilia C will also be able to qualify for Table A to Table C rates.
What is a Table rate?
At this point, most folks who not familiar with how life insurance companies rate individuals applying for life insurance, will usually ask…
“What is a Table Rate?”
Which is a great question, so let’s just take a moment and describe exactly what a table rate is.
Table rates are life insurance rates that fall just below “Standard” or “Normal” life insurance rates and are generally reserved for those applicants who are deemed “higher risk”.
In total, there 10 possible Table Rates an individual can qualify for with Table A being the “best” or “least expensive” table rate and Table J being the “worst” or “most expensive” table rate.
What Table Rate will you qualify for?
That depends, but what we can tell you is that not all life insurance companies price their table ratings the same. This is why, sometimes the company you think is going to have the lowest price because they offer the lowest price for really healthy people, isn’t always the best when it comes to insuring those with a pre-existing medical condition.
This is why…
It’s so important to understand the “rate” that you’ll most likely qualify for and then compare prices from different life insurance companies using that rate!
You see, we here at TermLife2Go have chosen to remain an independent life insurance brokerage that is able to work with dozens of different life insurance companies so that when we’re presented with a more “challenging” life insurance application, we don’t have to just rely on one or two different insurance companies, we can make “dozens” compete for your business!
So, what are you waiting for? Give us a call today or visit our Term and Whole Life Insurance Quotes page and see what we can do for you!