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Life insurance for people with Addison’s Disease

If you’ve been diagnosed with Addison’s disease and you need life insurance, but you don’t know what to do, then here’s some information that will help.

It can be difficult to know what to do for anyone with a pre-existing medical condition that wants life cover. You might want cover to protect your children, home, or business and there are lots of different options for this type of insurance.

If you’re confused then we’re here to help explain how it all works and to get you the best cover at the lowest price.

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The facts about getting life insurance with Addison’s Disease

Addison’s disease is a disorder that occurs when your body produces insufficient amounts of hormones produced by your adrenal glands. The adrenal glands produce too little cortisol, and often insufficient levels of aldosterone as well.

Treatment for Addison’s disease involves taking hormones to replace the insufficient amounts being produced by the adrenal glands, and other symptoms include fatigue, weight loss, and decreased appetite, hyperpigmentation of the skin, low blood sugar, joint pain, and depression.

The signs and symptoms of Addison’s disease can appear suddenly, resulting in acute adrenal failure. Taking out Addison’s Disease Life Insurance can therefore be a worthwhile option.

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How much does life insurance cost with Addison’s Disease?

Generally, where there is a history of Addison’s Disease and you are applying for a new life insurance policy, there may be several additional underwriting requirements to assess your application such as:

  • The age you were first diagnosed
  • Medications you may be taking
  • Date of the last attack
  • Treatments being undertaken
  • Current symptoms and their severity
  • Family history
  • Related conditions

Your premiums for Addison’s Disease life insurance will also depend on:

  • Sum assured (£’s)
  • Term of cover (years)
  • Type of policy (e.g. Family, Mortgage, Whole of Life, etc.)

What if I’ve been declined life insurance because of Addison’s disease?

If you’ve been diagnosed with this condition and have already applied for life insurance, it is likely that you may have been declined. This isn’t a big problem because life insurance companies aren’t particularly concerned about whether another company has refused cover in the past.

There are a few reasons why you might have been turned down in the past but don’t worry, we can help. Here are some of the main reasons why people are declined for life insurance with Addison’s disease:

  • Wrong time: you might have been diagnosed recently or you could have been going through a difficult period in terms of your medication or control
  • Surgery/treatment: it is likely that if you were awaiting treatment or results of tests, then you would be postponed or even declined cover
  • Wrong provider: some insurance providers are simply not great for some conditions, and especially some more complicated medical issues

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Exclusions for Addison’s Disease life insurance, critical illness cover, or income protection

Another potential outcome when applying for a non-standard cover such as Addison’s Disease life insurance, critical illness cover, or income protection, is for an ‘exclusion’ to be applied to your policy.

This means that you may have certain conditions that can be linked to your Addison’s Disease excluded from your policy. You may also find that certain additional benefits could be excluded such as Total and Permanent Disability, Waiver of Premium, or Guaranteed Insurability.

How much cover do I need?

It is difficult to say how much cover you need when you are applying for an Addison’s Disease life insurance, critical illness cover, or income protection policy. There are however some simple rules that you can follow which will give you a good idea of how much cover you need before you apply.

NB. You should also be aware that Addison’s Disease life insurance, critical illness cover, or income protection policy could increase after underwriting to reflect any additional risks of claim, so affordability may be a consideration.

Addison’s Disease life insurance amounts of cover

  • Mortgage amount (£’s)
  • Outstanding debt (e.g. Loans, second charge, credit cards, and other)
  • Dependants
  • Spouse or partner
  • Income (after tax)
  • Assets (e.g. car, house, business, etc.)

It is common practice for underwriters to ask for you to disclose additional information about your condition in order for them to make a decision and process your application. For Addison’s Disease life insurance, the levels of cover available and any loadings applied to your premium will depend on several key factors:

  • How well your condition is controlled
  • Medications are taken and frequency
  • Date and details of your last attack
  • Any history of Adrenal Crisis

Addison’s Disease critical illness cover amounts

Critical illness cover is slightly different from life insurance in the sense that it is designed to provide a lump sum payment if you are diagnosed with a critical or serious illness. Most people relate this type of cover to Cancer, which is the biggest reason for claims for critical illness cover. Things to consider are:

  • Income (after tax)
  • Mortgage payments (annual)
  • Cost of living (annual)
  • Any other possible costs (e.g. medical treatment or adaptations)

Often, Addison’s Disease critical illness cover is accepted based on standard rates with no special terms added. If Addison’s Disease has been well controlled and there have been no recent issues with your condition, you should be accepted for critical illness cover.

As with life insurance for Addison’s Disease, insurance underwriters will often want to see medical records to assess the levels of risk for your critical illness cover application. There may be some policy exclusions for critical illness cover.

If you have experienced recent issues of adrenal crisis, then there is a strong possibility that Addison’s Disease critical illness cover could be postponed or denied. The period it is postponed will depend on the severity of the recent problems and any hospitalisation that may have occurred.

Addison’s Disease income protection amounts of cover

Income protection is a very flexible product with a lot of options and variables, so you need to consider your own circumstances before you consider this type of policy. If you work, and especially for people who are self-employed, an Addison’s Disease income protection policy can be a valuable product to give you peace of mind if anything happens to you. Some of the main aspects to consider are:

  • Monthly income (after tax)
  • Mortgage/rent payments
  • Debts (other)
  • Cost of living

Income protection for Addison’s Disease can be strict in terms of underwriting due to the additional risks of claims on an income protection policy. Most underwriters will want access to a GP report or medical records. If your Addison’s Disease is well controlled, income protection can be offered, but there may be a slight increase (or loading) to your premiums due to the additional risk. If you have had an Adrenal Crisis or hospitalisation, then cover may be declined.