Do you suffer from Huntington's Disease? Find out what you need to know about getting life insurance.
An inherited condition that affects the nervous system and the brain, Huntington's Disease affects many Australians and can be extremely debilitating.
There are many symptoms associated with Huntington's Disease, which can affect you at any age but most common in people aged between 30 and 50. Some of the symptoms of this condition include:
- Involuntary muscle movement
- Reduced reasoning ability
- Memory loss
- Changes in personality
- Slurred speech
- Mood swings and emotional issues
How does Huntington's disease can affect your chances of getting insurance?
If you've been diagnosed with Huntington's disease, it can impact your ability to get certain types of insurance because you represent an increased risk to the insurance provider.
However, if you apply for cover you need to disclose all details about your condition. If you don't and need to make a claim in the future, your claim could be rejected as you failed your duty of disclosure. While cover may be more expensive, it's worth taking out appropriate insurance cover if you suffer from Huntington's disease, as this can offer increased peace of mind and more importantly financial protection for you and your loved ones for the future.
What are the different types insurance that cover disability?
Income protection for Huntington's
Huntington's disease is a debilitating illness which can make holding full-time or part-time employment difficult. When you're already unwell, worrying about your finances can add insult to injury. With income protection insurance you can ensure you're able to continue receiving an income stream while you're unable to work. This means you can focus your attention on your health instead. Income protection can provide you with ongoing payments of generally up to 75% of you normal monthly salary, providing you with money for essentials such as bills, food, mortgage or rent.
Mortgage protection insurance
If you're no longer earning a steady income, mortgage protection insurance covers your mortgage repayments.
Why consider life insurance?
Huntington's disease has a variety of symptoms, such as unsteadiness or reduced ability to reason, which can place you at an increased risk of injury. Having a life insurance policy in place can provide your family with financial protection in the event of your death from Huntington's or provide you with a lump sum benefit in the event that you're no longer able to work (provided you have total permanent disability (TPD) cover as part of your policy).
Available as part of you term life policy or as standalone cover, TPD can provide you with a lump sum benefit if you're deemed unable to work because of your ailment.
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*'New cover' refers to when you start a policy, reinstate cancelled cover or increase cover. The conditions in the above form are a general guide. Always consult the insurers product disclosure statement (PDS) for further information.