Life Insurance
Psoriatic arthritis can manifest itself in various ways among individuals. Some individuals may struggle with daily life, but others have learned to effectively manage and control their symptoms.
We are here to assist you with your life insurance application regardless of the circumstances.
Insurers require specific details about your condition when selecting a coverage plan.
- What treatment and medication are you taking?
- Where does the arthritis affect?
- How severe are your symptoms?
- How long have you had arthritis?
- How does it affect your day to day living?
Individuals with psoriatic arthritis may be eligible for life insurance policies at standard or increased premiums. The terms you receive will depend on the medications you take and any medical disclosures you provide.
When applying for life insurance with psoriatic arthritis, you will usually have to provide information on the management of your condition, the severity of your symptoms, and the medications you are currently taking.
Individuals with well-controlled psoriatic arthritis, mild symptoms, and no reliance on strong medication may potentially qualify for life insurance at standard rates.
The use of anti TNFs like infliximab or anti-disease modifying drugs like methotrexate may result in increased policy premiums. This is referred to as premium loading.
Our advisers conduct market research to find the insurer that suits you. It is crucial to ensure that your application is submitted to the most competitive insurer, especially if you are at risk of having your premiums raised.
Critical Illness
People with psoriatic arthritis may require additional time for insurance underwriters to evaluate their critical illness cover application.
They want to accurately assess the impact of the condition on your health before deciding on coverage terms.
When strong medication is being used, there is a possibility that your premium will go up or that an exclusion will be placed on your critical illness policy for any claims related to your illness.
You have the option to select either a higher premium with no exclusions or a standard premium with certain conditions excluded from the policy. Please consult with one of our skilled advisors to help determine the most suitable choices for your situation.
Some insurers may not approve your application for critical illness cover. It’s always tough news to hear, but keep holding on. There are occasions when more specialized insurers or employer-based policies may be beneficial.
Income Protection
Income protection for people living with psoriatic arthritis can be underwritten very strictly.
Standard income protection policies can often come with exclusions, and with some medical conditions, applications can be declined outright.
Income protection tends to see a high number of claims for musculoskeletal problems. With you having psoriatic arthritis already, this will lead some insurers to believe that you are at a higher chance of making a claim.
Some insurers can consider an income protection application, but this will depend on the medication you take, the strength of your symptoms and how much the arthritis has affected your ability to work.
If income protection can be offered, it is likely to come with an exclusion for psoriatic arthritis. It is certainly best speaking to a qualified adviser to help you place this cover.
