If you have or had an eating disorder, it can create a few roadblocks when you’re shopping for life insurance.
However, big reason people tend to pay an excessive amount of money for life insurance is that they shopped with only one company. This is a huge mistake because the best life insurance companies for any situation will depend on the details.
Keep reading if you’d like to learn how to get life insurance with an eating disorder. We put together 7 simple steps and also some insider tips to help you understand what the life insurance companies will be looking into.
How To Get Life Insurance With An Eating Disorder
Everyone with an eating disorder is different. Your agent will listen to your unique medical condition and your goals for coverage. They’ll also ask you the questions that a life insurance company underwriters will want to know.
Your agent is like your personal shopper. They will find you the best life insurance company for eating disorders.
Once the best company has been found, choose the policy that meets your specific needs and budget.
Your agent will help you apply quickly and easily online or over the phone.
After submitting the application and the underwriting process is completed you will know if you’ve been approved.
Can You Purchase Life Insurance With An Eating Disorder?
Anytime you look for life insurance, the provider is going to be interested in both your current health state and medical history. Your health, along with your body’s current state, is going to have an impact on your eligibility and what you’d pay for a policy.
If you have health a problem or a high risk condition, such as anorexia or bulimia, you may pay a higher amount each month for your policy.
People know that bulimia, anorexia and other eating disorders are not healthy and can even shorten a person’s lifespan. This is why insurance companies look carefully at your case if you have a history of eating disorders.
Can You Qualify for Coverage?
A better understanding of what eating disorders are and how they can affect your eligibility for a life insurance policy is important.
Before you get started looking for a policy, you need to first understand what an eating disorder is in they eyes of the company underwriter. In layman’s terms, an eating disorder is when you have an unhealthy relationship with food. While there are an array of eating disorders out there, most people have heard and understand the two popular ones:
For the most part, life insurance carriers want to see that you’ve recovered from your eating disorder and maintained a healthy weight for at least 12 months before they will offer you a policy. More time the better as it will help your rating and decrease your premium.
Why? – because maintaining a healthy weight means you’re less likely to relapse.
How Can Life Insurance Companies Know You Have An Eating Disorder?
A life insurance policy is often based on medical records. If a doctor diagnoses you with bulimia or anorexia, you need to let the life insurance company know this information. The reality though is that most folks suffer with anorexia and don’t get a diagnosis.
Whether you’ve been diagnosed or not, you’ll know if you suffer from an eating disorder. It’s imperative you see a doctor about it, even if that means you get a higher premium on your life insurance policy. Your health is most important!
Why Is Your Eligibility For Life Insurance Affected By Your Eating Disorder?
Both disorders can do serious harm to your body. Remember, your body must have food to stay nourished. If you don’t give your body food it needs, it has serious consequences. And, if you’re bulimic, the constant gag reflex that comes with vomiting can lead to the rare esophagus cancer.
Anorexia can result in organ failure such as heart failure. Due to the threats associated with them, a life insurance company is going to want to know if you suffer with it/them.
Can You Still Get A Policy With An Eating Disorder Diagnosis?
It is still possible to attain a life insurance policy even if you have an eating disorder like anorexia or bulimia. Your case will dictate if a company offers you a policy and for how much. The company is going to ask you questions about the problem, and they will use the answers along with other information to come up with an answer and quote.
Such questions include:
- Are you currently seeing a therapist to help you for it?
- When were you first diagnosed with the eating disorder?
- Where you ever hospitalized for it?
- What kind of eating disorder were you diagnosed with?
- Were you ever admitted into a rehabilitation program of center?
- Are you presently fighting against the disorder? What kind of treatment plan do you have?
- What is your doctor saying about the case?
These are just some of the questions you’d be ask from the company to figure out what level of risk you are. Upon getting the information, they’ll carefully look over the data and determine whether or not you should be given a policy. If one company doesn’t write you a policy, continue looking for a company that will.
What If You No Longer Have An Eating Disorder?
A good treatment program can help people successfully move past their eating disorders. And, being involved in this kind of program, raises one’s chances of being approved for a life insurance policy. However, it should be noted that your medical history is going to weigh heavily into whether or not you’ll be approved or denied for life insurance.
Why are insurance companies so interested in your past eating disorder?
The quick answer? An eating disorder may increase your risk of dying early.
- The disorder may have resulted in permanent damage to your vital organs, leading to potential health problems in the future.
- Once you’ve had the disorder, it’s not uncommon to fall back into the “habit.” Bear in mind that the more time that has gone by since overcoming the disorder, the less chances of you falling into the habit. Life insurance companies understand and know this, and will take it into consideration.
It should be noted that a person who’s overcome an eating disorder may have not had any long-term effects and, for them, they can get a standard life insurance policy rate.
Best Life Insurance Company for Eating Disorders?
Life insurance companies cater to specific “niches” in order to be the top carrier in specific markets. So certain life insurance companies may be better for certain conditions. In other words, there is no best company for Celiac Disease, Osteoporosis, Angioplasty….or Anorexia. It ultimately comes down to your specific health & lifestyle — and matching it with the company who will offer you the best rate.
Can I Qualify For Life Insurance With My Eating Disorder?
At Life Insurance Blog, we provide our clients with all kinds of options so we can ensure how clients get the best carrier for their needs and budget. We can help people who suffer with all kinds of debilitating disorders including an eating disorder. If you need help securing a life insurance policy with a health condition right now, give us a call.
We’ll find out if you can or cannot qualify for life insurance with your past eating disorder. Remember that all life insurance companies will look at your individual case differently. You may qualify with some companies and not with others. That’s where we shine.
Our expertise will find the companies that will look at you most favorably. We have access to over 60 top rated life insurance companies. We will help you through the process from start to finish. We will take our time to answer all of your questions and find the best life insurance coverage available.
Give us a call for a free no obligation consultation about securing life insurance with an eating disorder.