YOU ASK:

I had a transplant. Can I buy long term disability insurance?

WE ANSWER:

Yes, if you agree to have your heart disease excluded from the policy.

It also depends, if you can find an insurance company who will agree to issue you a policy. You see, insurance companies do some medical underwriting and will usually request for your medical records and will look into your medical history. They will issue the policy only when you meet their underwriting guidelines. They may also require you to take some medical tests. If you fail the medical exams, then you may be refused coverage. Or, you may be charged with high premiums and have your pre-existing conditions tied with a waiting period or may be excluded altogether.

A waiting period is a specified time after the policy is issued where all claims related to a specific list of medical conditions will not be payable. After this waiting period is satisfied, then you can make claims related to those medical conditions.  Meanwhile, when a certain medical condition is excluded, you may not make a claim on your policy for that excluded medical condition at all.

There are some long term disability insurance policies that are issued to cover a specific set of critical illnesses. This is usually listed in the policy.  Some of the covered illnesses include cancer, multiple sclerosis, kidney failure, Alzheimer's disease, major organ transplant. The policy contract will spell out how each of these critical illnesses will qualify and be payable under the policy.

For your case, the portion regarding heart disease will explain what instances will be covered. Usually, it should be critical and life threatening. For instance, a blockage that prevents blood from effectively flowing to the heart or a myocardial infarction that results in permanent tissue scarring or death in the heart may be covered, but an angina may not.

Please note, though, that there are some long term disability insurance policies that don't require medical exams. These will just as medical-related questions. This is particularly true for policies issued on a group basis.

What is important is that you tell the truth during your application. Your insurance company can cancel your policy midway or deny your claim if you made the mistake of not giving full disclosure at the time you applied for the policy.

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