Visual impairment is a serious condition that can make life difficult for seniors. Even if it is just a mere double vision it could be difficult. It is even worse if the visually blind is a senior.
Luckily, seniors who are visually impaired can obtain life insurance coverage. A few companies offer life term insurance policies for eligible seniors.
However, if the cause of blindness is likely to reduce life expectancy, the senior may be denied coverage.
In essence, how the senior became blind will impact on their overall chances. It determines whether they get life insurance coverage or not. Seniors can get impaired through accidents, glaucoma, macular degeneration, and diabetic retinopathy.
So, depending on the cause of blindness, applicants may encounter a few obstacles. Such obstacles could make it difficult for them to obtain a life insurance cover. Even though, the blind seniors should be eligible for whole life and simplified term issue.
However, they should take their time to determine what the underwriters will look at. It helps them understand what may be needed.
Things Underwriters Look For
Here are some of the things underwriters may be interested in:
Blind seniors looking for life insurance covers must meet a series of requirements. The overall health, ability to pay the premiums and what they can do on their own are important.
Overall Health Questions
A series of health-related questions may be used. They determine whether the applicant gets the cover or not. The questions are intended to determine several aspects. They include the age of the applicant and any diagnosed medical condition.
Other obvious questions that revolve around blindness will be asked. The underwriter may want to know how long the senior has been considered legally blind. They may also want to know whether the blindness resulted from an accident.
If it was caused by blindness, the insurer may postpone the application. Typically, they may want to wait for 6 months from the date the accident occurred.
Cause of Blindness that Underwriters May be Sceptical of
- Head injuries
- Uncontrolled diabetes
- Cranial hemorrhaging
- Uncontrolled Hypertension
- Cranial hemorrhaging
The underwriter may also want to know more about the senior’s lifestyle choices. They will want to look at the hazardous lifestyle that the applicant leads. These are factors that may increase the risks. They will ask if the blind senior uses tobacco and marijuana.
Why the Insurer May be Concerned
If blindness is a result of an accident, the insurer will look at it differently. But, if the blindness is a result of diabetes, it may be a different matter altogether.
Also, the insurer looks at a lack of vision as a risk. You will be prone to risks such as slips and falls, accidents, and other health implications. Because of this, insurance companies are likely to charge higher premiums.
Blind seniors may still qualify for a life insurance cover. It all depends on their current state of health. If they became blind from an accident, they will have access to a standard-issue cover.
It means that they will not need to go through a medical exam. If your blindness is a result of a complication from other illnesses, they may not qualify for the plan.
The Amount of Coverage
The amount of coverage the blind senior gets will depend on the cause of blindness. It will also depend on their ability to pay premiums. Besides, the current state of health or any serious illness may be a big issue to the insurer.
Can the Blind Seniors Qualify for a Disability Rider?
Unfortunately, insurance companies may not allow for disability riders.
Getting Term Life Insurance for the Blind
Getting a term life cover after you are diagnosed with a life-threatening ailment is difficult. If you do, you will pay dearly. But seniors could secure a blindness insurance cover before they become blind. They could also secure a term life cover before they are diagnosed with any chronic ailment.
Seniors who come from a family with known issues may need to seek for the cover early. Glaucoma, diabetes, macular degeneration, and other inherited conditions are likely to recur. But if they wait until the complication is diagnosed, it may be difficult to get a life insurance cover.
Life Insurance Plans You Can Qualify for
The cause of blindness is the most important factor when considering a life insurance cover.
The blind senior may qualify for
- Universal Life Insurance
- Whole Life Insurance and
- Term Life Insurance
Vital Aspects Before Getting the Cover
The first thing the blind senior must do is to contact a life insurance expert. They will guide and help them understand the company’s requirements. They will also discuss whether the company accepts seniors with partial impairments. If they accept totally blind seniors it will also be known. Besides, if the company requires other information like prescribed medications, it will be discussed.
The insurance company may also want to know more about height, weight, and other life-threatening factors. The type of assistance the blind senior needs when going about their day to day activities is vital.
Note that answers to the following questions are critical;
Is the senior capable of functioning in the normal home environment? Do they need help when it comes to bathing, eating and performing household chores?
Some companies will want to look at the type of support systems that are put in place for the senior. Such support forms the basis on which they will write the policy. Typically, blindness increases the risks of accidents. It also subjects them to frequent injuries. So, they may be interested in the type of protection that the blind senior has when going about their daily routine.
In some cases, the underwriter may be interested in knowing how often the senior sees an ophthalmologist. If the answer is often, it indicates that the elderly are closely monitored. So if the complication crops up, it can easily be dealt with.
Other Medical Conditions
If the blindness is caused by accidents, a medical condition may not exist. But if the blindness just came up, then the elderly may suffer from risky ailments.
Some of them are: high blood pressure, cancer, diabetes, and other serious ailments. It could impact on the rates of premiums or lead to denial of the cover.
Factors that May Affect the Premium Rates
Medication- the medication the blind senior is currently taking is considered critical. Note that the medications may also have their side effects on the senior’s health. So the underwriter may use this to determine whether to give a cover or not.
The age- it is an acritical factor when determining the premiums to be paid. The rule of thumb is that the older you are the more the premiums you pay.
Just like other seniors, the elderly blind can also get life insurance covers such as whole life, term life, and simplified term issue. However, the underwriter may want to know the cause of blindness before they issue the cover.
If the blindness is caused by an accident, the senior can get a life insurance cover with better rates. But if the blindness is caused by a disease, the elderly may be denied a cover or pay premiums at high rates.