Are you looking for life insurance for epileptics? Find out what cover you're entitled to.
Paid sick leave can only protect you for so long and if you're forced to miss an extended period of time due to your epilepsy, how will you continue to pay the bills?
Having life insurance with an income protection benefit can help in times when you're unable to work. Income protection can provide you with an ongoing monthly benefit of generally up to 75% of your normal monthly wage. Available as both part of your life insurance policy or as standalone cover, income protection insurance is great choice to provide you with added financial security in times of need.
How is epilepsy assessed by underwriters
Insurers recognise epilepsy under three main types:
- Idiopathic epilepsy. Idiopathic epilepsy occurs for no obvious reasons, recognised by the occurrence of major convulsions and minor short blackouts. An insurer will assess how controlled the case is looking at both lifestyle and individuals co-operation with treatment.
- Symptomatic epilepsy. Symptomatic epilepsy is usually a result of brain damage and could result in a higher premium loading.
- Focal epilepsy. Causes complex motor seizures that can also result in a higher premium loading.
Questions you'll typically be asked by an insurer
- At any time in your life have you had, received medical advice or shown symptoms of migraines, recurring headaches or epilepsy?
- Is there a family history of epilepsy?
Taking out income protection cover
If you've been diagnosed with epilepsy and want to take out income protection insurance, you will need to inform your insurer of your condition. This allow the underwriter calculate the risk you pose to the insurer and whether or not you'll be subject to a premium loading. However, despite the higher cost, it is still well worth taking out income protection cover, as this will enable you to protect part of your income in the event that you cannot work and earn your money.
Finding income protection if you have epilepsy
If you have already been diagnosed with epilepsy, your search for affordable income protection insurance cover could be a little more difficult than it would be for those who are fit and healthy, which means that you may need to put a little more effort into finding the right cover and provider.
You need to try and find cover that will suit your needs but will also be affordable, which means comparing a range of providers to see what sort of deal you can get. One thing that you should never do is fail to provide details about your condition, as if you end up having to claim and the insurance firm finds out you have failed disclose details about your illness, you could end up invalidating your policy.
Some of the things to look at when you compare income protection include:
- How much you will pay by way of premiums for the cover – this is particularly important given that you may have to pay more anyway due to your epilepsy
- The maximum level of coverage different providers will enable you to choose
- What sorts of benefit periods and waiting periods are available from different providers, which will also impact upon the price you pay
- Any exclusions and restrictions, to ensure that you will still be eligible to claim even with your medical condition
By choosing a suitable income protection plan you can make sure that in the event that you are unable to work for a while due to your illness, and you are therefore unable to earn your wage, you will not be left struggling to pay the bills and keep up with other necessary financial commitments. This type of insurance cover offers complete peace of mind for the future in terms of your finance. However, it is important to remember that the choice of income insurance providers you will have and the cost of the cover could be affected if you have already been diagnosed with this condition when you make your application for cover.
Comparing these details and checking a variety of plans and policies will help to make it easier to find a suitable income protection plan at the right price.