Life Assurance

For people with Protein S Deficiency and Thrombophilia

Life Insurance (also known as Life Assurance or Life Cover) is a financial insurance product that can provide a payment upon death or diagnosis with a terminal illness. Some policies are available with unemployment or critical illness cover.

There are two main types of policy. One type provides a fixed amount of benefit in return for a fixed monthly premium. The monthly premium and the benefit usually stays fixed over the lifetime of the policy. Another type provides a gradually decreasing amount of benefit linked to a loan or home mortgage, so that debt will be paid off in full. As you pay off your debt, the amount required to settle it decreases. Depending on your policy these can sometimes be transferred to new mortagages if you move home or change lender.

A person that has been diagnosed with Protein S Deficiency should still be able to get life cover without too much difficulty. Health declarations are usually focussed on whether you are a smoker or engage in hazardous activities.

A more extensive declaration of medical conditions is usually only necessary if life cover is to include critical illness cover. Again, you should still be able to get cover but you may need to accept that pre-existing conditions may need to be excluded.

The exclusion of pre-existing conditions is quite common in travel insurance policies but some insurers may still include you regardless. This may sound slightly odd but you need to consider that to an insurer it is often better for them to know you have a condition and manage it, rather than someone else who doesn’t know and is thus an unknown potential risk. So for example, if you are taking anticoagulants (Coumadin, warfarin, heparin) and your pre-existing health condition is being managed without any recent incidents then you may find an insurer that will take this on and include it anyway, although sometimes for an increased premium.

If you know of insurers that offer life cover to people with PSD you can let us know in our forum.

Everyone has different needs and requirements so you should discuss the options with your insurer.

Footnote

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