Name: iam|INSURED
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Haemophilia life insurance

There are lots of options when it comes to life insurance for protecting your family and your home. People with pre-existing medical conditions like haemophilia can have different challenges and you might want to know how life insurance protects you with this condition.

The main thing here is to make sure that you’ve got the best cover in place at the lowest price for your family.

According to records, there are approximately 8,500 people in the UK that has haemophilia. This condition is most common in males with approximately one in 10,000 haemophilia A or one in 40,000 with haemophilia B.

Here we look at how life insurance and critical illness cover can protect people with haemophilia, as well as how to get cover with this condition.

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Does life insurance cover haemophilia?

Yes – if you need to claim on life insurance for haemophilia then you would be covered and your family would receive a lump sum.

There should be no reason why your life insurance policy should payout to your loved ones if you die from haemophilia. Unfortunately, your life expectancy with this condition can be lower and it can be life-threatening.

Most commonly people will develop haemophilia A between the ages of 19 and 44 or over 45 years of age.

You can use your life insurance policy to pay out for:

Mortgages
Rent
Tax liabilities
School fee
Cost of living

Your policy will pay out a tax-free lump sum to your beneficiaries in the event of death or terminal illness.

Will critical illness cover payout for haemophilia?

Your critical illness cover policy is designed to pay out a cash lump sum if you are diagnosed with a serious medical condition.

While haemophilia itself is not generally covered as a specific critical illness in most policies, there are other related conditions to consider. It is not considered to be severe in the sense that this condition does not impact lifestyle.

Some of the main conditions covered by critical illness insurance:

Cancer
Stroke
Heart attack
Multiple sclerosis
Parkinson’s disease
Dementia
Disability

You will be able to claim on your existing policy if you are diagnosed with a condition listed on your policy. This will then pay out a cash lump sum to allow you to continue to pay for outgoings and the general cost of living.

Does income protection cover haemophilia?

Yes – if you’re unable to work for a period of time (usually over 4 weeks) then your income protection policy should payout to you.

Most of these types of policies will pay out a monthly income to replace your salary if you are signed off by a doctor. You would usually be able to claim up to 60% or 80% of your gross monthly income from 4 weeks after being unable to work.

There are also multiple different types of income protection policies but the most common are short term which will payout for 12 or 24 months. People with haemophilia may need to have prolonged periods of time off work due to their condition.

Income protection for someone with haemophilia can be used for a number of reasons when replacing your income, including:

Mortgage payments
Rent payments
Utilities and other bills
School fees

When you take out a new income protection policy you should make sure that it is right for you and provides you with the cover you need.

Most people think that the support provided by the government will protect them which is not generally the case. Statutory Sick Pay (SSP) will pay out approximately £90 per week.

Haemophilia and life insurance

The other key element to consider is whether you can get life insurance after you’ve been diagnosed with haemophilia.

Here we also look to answer some of the key questions that you might have for haemophilia life insurance.

Can you get life insurance with haemophilia?

Yes – it is usually much easier than people think to get life insurance with haemophilia and especially were treated properly.

You will be asked to provide information about your health and your medical condition based on your disclosures. The details that you provide will give insurers a clear view of the severity and regularity of your symptoms.

It is often easiest and cheaper to speak to an expert or specialist if you are applying for life insurance with haemophilia and other medical conditions.

There are usually several life insurance options for people with haemophilia and often from standard insurers. If you’ve been refused life insurance in the past because of your haemophilia, don’t worry as cover should still be available to you.

Haemophilia life insurance underwriting

Your application for haemophilia life insurance will be assessed through a process called ‘underwriting’.

This can be an automated process online, a manual process by an underwriter, or via medical underwriting with a report from your GP. Underwriting is a standard process for any insurance application that is used to assess risk for pricing.

For haemophilia life insurance there may be a requirement to provide medical evidence which is a standard process.

If you are asked to provide medical evidence then you will need to give permission for your GP to send your medical records to the insurer. You won’t have to pay for this as it will be paid for by the insurance company directly to your doctor’s surgery.

How much is life insurance with haemophilia?

It’s difficult to say exactly how much your life insurance premiums will be because it’s based on your individual circumstances.

There are a number of standard factors that will be used to calculate your life insurance premiums, including:

How much cover do you need
How long is your policy for (years)
Do you smoke
What is your age

These are the main points that will determine your premiums for life cover as well as your health, lifestyle and any pre-existing medical conditions.

Best life insurance with haemophilia

You can choose from several different types of life insurance policies that offer different types of cover.

The main types of life insurance policies include:

Level term life insurance (family protection)
Decreasing term life insurance (mortgage protection)
Whole of life
Family income benefit
Business life insurance

Each of these life insurance policies with haemophilia will provide you with different types and levels of cover. There are also differences in the cost of these policies so can therefore suit a different budget for affordability.

Medical conditions linked to haemophilia

Here are some of the most common medical conditions that are linked to haemophilia or can be caused by this condition.

Types of haemophilia

Haemophilia A
Haemophilia B
Acquired haemophilia
Mild haemophilia
Moderate haemophilia
Severe haemophilia

Common questions about haemophilia

Some of the most common questions that people ask about haemophilia or for information about haemophilia.

What are the 5 most common symptoms of haemophilia?

There are some usual symptoms that people will experience if they are suffering from haemophilia.

Excessive bleeding (cuts, injuries, surgeries etc.)
Bruising
Joint pain
Blood in urine or stool
Unexplained nosebleeds
Irritability (in infants)

Why is haemophilia rate in females?

This is a rare blood disorder that is often inherited genetically from parents. The pattern in which this condition is inherited in an ‘X-linked recessive trait’ which in females is far less common. When a female has haemophilia, it is where both X chromosomes are affected or one does not function or is absent and the other is affected.

Is haemophilia life-threatening?

Unfortunately, haemophilia is a life-threatening medical condition that causes an average reduction of 6 years in life expectancy (average 77 years). This is a chronic medical condition with no known cure.