Statins, Life Insurance & Non-Compliance

[owain2]

Does anyone know what the situation is with life insurance if one refuses to take prescribed Statins? My doctor insists I take them whilst I have serious doubts about the whole cholesterol obsession.

I get a lot of aches and pains and frightening "mind blank" incidents that stop if I cease taking statins.

My fear is that if anything happened to me, my wife would not paid by the insurers.

I don't want to start a big discussion about statins/cholesterol, I am only interested in the insurance aspects of non-compliance.

Thank you,

Owain

 

[Spiral]

I have recently re mortgaged and with it came a new life insurance policy - my first since being diagnosed.

I have refused statins, probaly for the same reasons you have.

My life insurance policy was almost twice the cost of the inital quote, prior to the medical info being provided. I suspect that my refusal of statins had little to do with this cost and more to do with being diagnosed as diabetic.

If you have an existing policy, I suspect that it won't make any differece at all, you are already covered. If you are taking out a new policy, then that would be adifferent matter. I think honesty is the best policy with insurance - call the helpline and discuss.

.

 

[Andy London]

Some life cover policies come with "event options" whereby you can increase the sum assured when certain events are triggered such as moving home, having kids etc, which also may not need any further underwriting, medicals etc. Check your existing policy and never cancel any life cover arrangements until a new policy is in force.
Any new policy will be loaded as Spiral has stated, unfortunately you cannot get a real quote to take into account the condition because life cover quoting systems are not geared up to take this into account, best ask who loads their policies the least. Some financial advisers have good relationship with product underwriters directly for quick answers on loading policies due to conditions.

 

[tisme]

I didn't want statins so my doc gave me fenofibrates they used it before they had statins no problems and i have fibromyalgia

 

[Grazer]

I used to sit on the underwriting committee of a large insurer, and Andy's right. You shouldn't assume existing policiea are ok, but always inform existing insurers of changes in health. They won't charge extra if policy terms don't require it. Regarding statins, ensure you declare your cholesterol level - the actual level should determine any rating (loading) rather than your refusal to take statins. NOT taking statins merely means you can't enjoy the improved rate you may have got if you had taken statins and achieved a lower level. Providing you answer all questions honestly you should be ok.
The diabetes will certainly affect any insurance more than cholesterol levels.

 

[owain2]

I'm sorry, I should have explained better. I have been prescribed statins for over 12 years and took out the insurance around 10 years ago which was also prior to the diabetes diagnosis. When, a year or so back, I became aware of the fact that my reactions to statins was in accord with those of others, I stopped them and the problems went away.

My way of dealing with the situation has been to take them for a few weeks before my "review" and quit again once the blood test were taken. As I have ignored the standard diet and adopted (with great success) a LC/HF diet i wish to avoid a confrontation with my doctor until I am sure the life cover is assured. Maintaining HbA1c of 5.2 seems of little interest to him but he displays a keen interest in cholesterol readings.

In other words I don't want to raise my head above the parapet until I'm sure there's no threat to the life cover.

Thanks for the replies.

Owain

 

[noblehead]

Owain,

Have you discussed the aches, pains and mind blanks with your doctor?....some find a change in statin or a reduced dose is helpful, not sure about the insurance aspect but you are right to be concerned about it and maybe worth enquiring further.

 

[Grazer]

I'm sorry, I should have explained better. I have been prescribed statins for over 12 years and took out the insurance around 10 years ago which was also prior to the diabetes diagnosis. When, a year or so back, I became aware of the fact that my reactions to statins was in accord with those of others, I stopped them and the problems went away.

My way of dealing with the situation has been to take them for a few weeks before my "review" and quit again once the blood test were taken. As I have ignored the standard diet and adopted (with great success) a LC/HF diet i wish to avoid a confrontation with my doctor until I am sure the life cover is assured. Maintaining HbA1c of 5.2 seems of little interest to him but he displays a keen interest in cholesterol readings.

In other words I don't want to raise my head above the parapet until I'm sure there's no threat to the life cover.

Thanks for the replies.

Owain

Understand now. Can't see it being a problem at all. Just to make sure, in case there's a renewable element to the policy which requires further disclosure, you could email or write to the company saying you have stopped taking statins as a personal decision. I'm sure there will be no comment, but at least you've done more than could be expected.

 

[owain2]

Firstly, thanks for the replies. I have just heard back from the insurers who confirm that my refusal to take statins would not have any any effect on any payout on my demise.

The only sort of thing that really impacts on that would be something like an application from an alcoholic who is told to stop because of developing liver damage. If cover was agreed following a assurance that drinking alcohol had ceased and they subsequently died from sclerosis of the liver, it would most likely be assumed they lied to obtain insurance cover. A payout in those circumstances would be unlikely.

Interesting discussions with my GP will ensue!

Owain