Finding life insurance with an arthritic condition, such as osteoarthritis, may feel like a stressful process. It involves disclosing medical conditions and may seem like it will be more expensive.
This is not the case, as osteoarthritis life insurance has become more accessible and easier to get with mainstream providers. However, it is always important to be prepared for the life insurance application process.
Osteoarthritis is an inflammatory condition that causes pain and swelling in the joints. It is the most common type of arthritis. According to the NHS, more than 9 million people in the UK have this condition.
The condition typically develops in people who are over 40 years old, with commonly affected joints including the hips, spine, knees and hands. Osteoarthritis can be caused by a range of factors, including injury, obesity and ageing.
Treatment for osteoarthritis depends on the condition, but it can be managed with regular exercise, suitable footwear and reducing the strain on joints. More severe cases can be treated through surgery to strengthen or replace the damaged joint.
If you have osteoarthritis, you are able to get life insurance. This is dependent on the insurance company, however, there are many options available for people with arthritic conditions.
The cost of life insurance if you have osteoarthritis can depend on the severity of your condition; life insurance providers may want more information about your osteoarthritis or in some cases, may request medical evidence.
When assessing your application, life insurance providers will look at it on a case-by-case basis; this often includes information about your lifestyle and medical history.
If you have a diagnosis of osteoarthritis prior to your life insurance application, life insurance providers are very likely to request further details about the condition. This helps them to determine the level of cover you require and the cost of your premiums.
It is important that you disclose information about your medical conditions as failure to do so could impact on future claims.
In addition to general information about you, such as your age and occupation, life insurance providers will want to know more about your osteoarthritis.
The information that life insurance providers will request about your arthritis may differ, however, you can typically expect them to include:
Providing as much relevant information about your condition can benefit your life insurance application. It is important that you are accurate and provide up to date medical information.
it is possible to get life insurance without an increase in premiums if you have arthritis. However, there is a possibility that the cost can increase depending on the severity of your condition.
To reduce the cost of your life insurance, there are some steps you can take which are related to your general health.
The NHS recommends quitting smoking if you have arthritis, this can also help to reduce the cost of your life insurance. If you are a smoker, this is very likely to increase your premiums.
Reduce your alcohol intake
Drinking alcohol excessively can dramatically increase the cost of your life insurance, reducing your intake can help to reduce the overall cost of your premiums.
When assessing your life insurance application, life insurance providers will look at your BMI. If your BMI is over 30, your life insurance premium could increase. Losing weight is one way to help decrease the cost of your life insurance.
It may feel like it is challenging to find the right life insurance policy with osteoarthritis, however, there are plenty of options available to you. Using an independent broker can help you to find the most suitable cover at a reasonable price.
I’m Insured is an independent broker based in the UK with specialist expertise in helping those with medical conditions find the right life insurance. If you’d like support finding osteoarthritis life insurance, you can speak to a member of our team or start your free quote.
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That means you can nominate somebody to look after the money if you die and there’s a payout before you want the intended recipient to get the money. A common example is parents who want to have the payout go to a child only once the child turns 18 or 21. Putting a policy into trust also ensures that the payout goes to your intended recipient and can’t be seized by creditors if you have any debts when you die. There may also be tax benefits to putting a policy into trust.