In this article, we will discuss the process of obtaining life insurance approvals with esophageal varices and what steps individuals can take to increase their chances of approval.
Understanding Esophageal Varices
Esophageal varices are abnormally enlarged and swollen veins in the esophagus, which is the tube that connects the mouth to the stomach. These veins are often caused by an increase in pressure within the portal vein system, which carries blood from the intestines, pancreas, and spleen to the liver.
Causes:
The most common cause of esophageal varices is cirrhosis, which is a chronic liver disease that occurs when scar tissue replaces healthy liver tissue. This can lead to an obstruction of blood flow through the liver, resulting in high blood pressure in the portal vein system. Other potential causes of esophageal varices include blood clots, portal vein thrombosis, and other conditions that obstruct blood flow through the portal vein system.
Symptoms:
Esophageal varices may not cause any symptoms until they rupture and bleed, which can be a medical emergency. When they do cause symptoms, they may include difficulty swallowing, pain or discomfort in the upper abdomen, vomiting blood, black or tarry stools, and jaundice.
Treatment:
The primary goal of treatment for esophageal varices is to prevent them from rupturing and bleeding. Treatment options may include medications to reduce the pressure in the portal vein system, endoscopic procedures to treat bleeding varices, and surgical procedures to reroute blood flow away from the liver.
Worst case scenario:
If esophageal varices rupture and bleed, it can be a life-threatening emergency that requires immediate medical attention. Symptoms of bleeding esophageal varices may include vomiting blood, black or tarry stools, low blood pressure, rapid heart rate, and confusion. Treatment for bleeding esophageal varices may include medications to stop the bleeding, endoscopic procedures to treat the bleeding varices, blood transfusions, and surgical procedures to stop the bleeding.
In some cases, bleeding esophageal varices can lead to shock, coma, or even death. It is important to seek medical attention immediately if you suspect that you or a loved one may be experiencing bleeding esophageal varices.
Impact on One’s life insurance application
Esophageal varices can have a significant impact on your life insurance application. In most cases (simply because we don’t like to use the word always), traditional life insurance companies will deny coverage due to the increased risk of bleeding and other complications associated with the condition. This can make it difficult for individuals with esophageal varices to obtain the life insurance coverage they need to protect their loved ones.
This is why, most (if not all) applicants with esophageal varices will need to seek out alternative products should they wish to purchase coverage. Alternative products such as a guaranteed issue life insurance policy, a group life insurance policy or an accidental death policy.
Guaranteed issue life insurance:
Guaranteed issue life insurance policies can be a good option for individuals who have been denied traditional life insurance coverage due to health issues, including esophageal varices. These policies do not require a medical exam or health questionnaire, and are typically issued to anyone who applies, regardless of their health status. While there are some benefits to guaranteed issue life insurance policies, there are also some potential drawbacks that should be considered.
Pros:
- Guaranteed approval: As the name suggests, guaranteed issue life insurance policies are guaranteed to be approved as long as you meet the eligibility requirements, such as being within the age range specified by the policy.
- No medical exam: With no medical exam required, guaranteed issue life insurance can be a good option for those who have health issues that would make it difficult to qualify for traditional life insurance coverage.
- Cash value: Many guaranteed issue life insurance policies offer a cash value component, which allows you to build up a savings component within the policy over time.
Cons:
- Higher premiums: Because guaranteed issue life insurance policies do not require a medical exam, they are considered riskier for the insurance company, which means that premiums may be higher than those for traditional policies.
- Lower coverage limits: Guaranteed issue life insurance policies typically have lower coverage limits than traditional policies, which means that they may not provide as much protection for your loved ones in the event of your untimely passing.
- Waiting period: Many guaranteed issue life insurance policies have a waiting period before the policy pays out the full death benefit. During this waiting period, which can be up to two to three years, the policy may only pay out a portion of the death benefit or a return of premiums paid.
- Limited benefits: Some guaranteed issue life insurance policies have limited benefits, such as no cash value or no accidental death benefit.
When considering a guaranteed issue life insurance policy, it is important to weigh the pros and cons carefully and to shop around for the best policy for your needs. It is also important to work with an experienced insurance agent who can help you navigate the underwriting process and find the right policy to protect your loved ones in the event of your untimely passing.
Group life insurance:
Group life insurance policies can be a good option for individuals who are unable to obtain traditional life insurance coverage due to health issues such as esophageal varices. These policies are typically offered through an employer or professional organization and can provide coverage at a lower cost than individual policies. However, there are also potential drawbacks to consider when choosing a group life insurance policy.
Pros:
- Lower premiums: Group life insurance policies are often less expensive than individual policies, as the insurer can spread the risk across a larger pool of individuals.
- No medical exam: Many group life insurance policies do not require a medical exam or health questionnaire, which can make them a good option for individuals who have been denied traditional coverage due to health issues.
- Convenience: Group life insurance policies are often offered through an employer or professional organization, which means that enrollment and payments are typically handled through payroll deductions or automatic bank drafts.
- Guaranteed issue: Some group life insurance policies offer guaranteed issue coverage, meaning that all eligible individuals are automatically enrolled in the policy without the need for underwriting.
Cons:
- Limited coverage: Group life insurance policies typically have lower coverage limits than individual policies, which means that they may not provide as much protection for your loved ones in the event of your untimely passing.
- Lack of control: Because group life insurance policies are typically offered through an employer or professional organization, you may not have as much control over the policy as you would with an individual policy.
- Coverage restrictions: Some group life insurance policies may have restrictions on coverage, such as only providing coverage while you are employed by the organization.
- No portability: If you leave your employer or professional organization, you may not be able to take your group life insurance policy with you. This means that you may lose coverage if you are not able to obtain another policy elsewhere.
When considering a group life insurance policy, it is important to weigh the pros and cons carefully and to consider your individual needs and circumstances. It is also important to review the policy carefully and to work with an experienced insurance agent who can help you understand the terms and conditions of the policy and ensure that it provides the protection you need.
Accidental death policy:
An accidental death policy can be a good option for individuals who are unable to obtain traditional life insurance coverage due to health issues such as esophageal varices. These policies provide coverage in the event that you die as the result of an accident, rather than from natural causes. While there are some benefits to accidental death policies, there are also some potential drawbacks that should be considered.
Pros:
- Lower premiums: Accidental death policies are typically less expensive than traditional life insurance policies, as they only provide coverage in the event of an accidental death.
- No medical exam: Many accidental death policies do not require a medical exam or health questionnaire, which can make them a good option for individuals who have been denied traditional coverage due to health issues.
- Guaranteed issue: Some accidental death policies offer guaranteed issue coverage, meaning that all eligible individuals are automatically enrolled in the policy without the need for underwriting.
- Easy to obtain: Accidental death policies are often easy to obtain and can be purchased directly from an insurance company or through an insurance agent.
Cons:
- Limited coverage: Accidental death policies only provide coverage in the event of an accidental death, which means that they may not provide as much protection for your loved ones in the event of your untimely passing from natural causes.
- No cash value: Accidental death policies do not typically have a cash value component, which means that you will not be able to build up savings within the policy over time.
- No coverage for illness: Accidental death policies do not provide coverage for illness or other non-accidental causes of death.
- Limited benefits: Some accidental death policies have limited benefits, such as no accidental dismemberment benefit or no additional coverage for dependents.
When considering an accidental death policy, it is important to weigh the pros and cons carefully and to consider your individual needs and circumstances. It is also important to review the policy carefully and to work with an experienced insurance agent who can help you understand the terms and conditions of the policy and ensure that it provides the protection you need.
Conclusion…
Obtaining life insurance coverage with esophageal varices can be a challenge, but it is not impossible. By working with an experienced agent, and considering alternative products such as a guaranteed issue policy, group life insurance or accidental death policy, you can increase your chances of approval.
Remember to be upfront and honest about your condition during the application process and to provide as much information as possible to the insurance company. With the right approach, you can obtain the life insurance coverage you need to protect your loved ones in the event of your untimely passing.