How To Get Insurance With Asthma [2024]

Life insurance is an important consideration for anyone, as it provides financial security and peace of mind for any family. Yet, when it comes to actually finding the right policy, many people have questions about their own situations and how to best go about it. Questions can stem from wondering how much term life insurance to purchase, to whether or not you can actually obtain term life coverage. 

Eligibility may be a particularly concerning issue in the minds of those with asthma (or with any other preexisting condition, for that matter). However, getting life insurance with asthma is absolutely an option and may simply require some extra shopping to find the right policy for you.

Does asthma disqualify a person from term life insurance?

Because asthma is a pre-existing condition, asthma and life insurance may not seem to go together, but those with asthma can rest assured that this is not the case. Having asthma does not disqualify you from obtaining life insurance. 

While some companies may be easier to work with than others, you can still find affordable life insurance with asthma when you know where to look. That starts by understanding the life insurance terminology around your term life policy. 

What is the best type of term life insurance for asthma?

Term life insurance is coverage lasting for a set term (10 or 20 years, for example). Companies promise to pay a lump sum of money in the event of the insured person’s death. But under the umbrella of term life insurance, there are many different types of coverage.

For example, renewable policies allow you to keep your insurance for an additional term regardless of changes in health, while the return of premium policies pay back all or some of your rates if you outlive your policy. 

If you are ready to buy life insurance with asthma, consider a convertible term life policy. Convertible policies allow you to convert your temporary policy to a permanent one later on. This might be especially helpful for those who are uncertain whether they need a longer-term policy and want to start with a shorter term.

Where can I buy term life insurance with asthma?

When comparing policies and quotes online, you should keep in mind your family’s specific needs, such as how long you need the policy in place, how much money your family would need in the event of your death, what features would best optimize coverage for you, and what your current monthly or annual budget is for such a policy.

The best life insurance companies for those with asthma are Haven Life and Prudential. 

Starting with these companies, it’s a good idea to find policy information and quotes online for your own comparison before applying.

After you submit your application, the underwriting process begins. From there, the insurance company will contact you about any follow-up questions they have or steps you need to take before it can make a final decision about your application.

Case Studies: Getting Life Insurance With Asthma

Case Study 1: Finding Competitive Rates

Lisa, who has asthma, wanted to purchase life insurance to provide financial security for her family. She compared quotes online from different insurance companies that offer coverage for individuals with preexisting conditions.

After thorough research, she found a policy with affordable rates from Haven Life, tailored to her specific needs. Lisa was able to obtain the life insurance coverage she desired despite her asthma condition.

Case Study 2: Converting Term Life Insurance

Mike, who has been managing his asthma effectively, decided to purchase term life insurance. He opted for a convertible term life policy that would allow him to convert his temporary coverage to a permanent one later on.

This provided him with flexibility, knowing that he could adjust his coverage as his needs and circumstances changed over time. Mike found peace of mind knowing that his asthma did not hinder him from obtaining the desired life insurance protection.

Case Study 3: Proactive Asthma Management

Sarah, who has asthma, understood the importance of managing her condition to improve her chances of finding affordable life insurance. She diligently followed her doctor’s advice, took medication as prescribed, and adopted a healthy lifestyle to keep her symptoms under control.

Sarah’s efforts paid off when she received competitive life insurance quotes from various insurance companies. Her proactive approach to managing her asthma played a crucial role in securing the coverage she needed.

How to Get Term Life Insurance With Asthma: The Bottom Line

Having asthma does not disqualify anyone from buying term life insurance. If you have asthma and are shopping for term life insurance, compare life insurance insurance companies online to find one that offers competitive rates. 

Regardless of your coverage, it is very important to take care of yourself and manage your asthma symptoms. According to the Mayo Clinic website, asthma symptoms can range from mild to very severe depending upon the person, but even milder cases can worsen over time. 

The company you buy life insurance from may also require you to undergo a physical exam in order to determine your rates. Reducing your asthma symptoms and being in the best physical condition possible will help you find cheaper life insurance quotes. Talk to your doctor about the best steps for you to take to reduce your symptoms and lower your life insurance rates.