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Epilepsy is a common chronic neurological disorder characterized by recurrent unprovoked seizures
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Living with epilepsy: life insurance LIVING WITH EPILEPSY: LIFE INSURANCE
One of the few ways that an average person has of building Capital throughout his lifetime is by house purchase, by payments into regular saving schemes such as with profits insurance policies and personal equity plans (PEPs) and often by a combination of all these. Couples will also usually wish to provide some sort of monetary support to their surviving partner or children in the event of unexpected early death. In short, life insurance is now regarded as part of nearly everyone's every-day financial arrangements.
Life insurance companies are in business, in the final analysis, to provide a financial return for their shareholders, or, in the case of a Mutual Office, to provide a fair deal for all
policy-holders. It has to be admitted that the mortality of all those with seizures from all causes is higher than the general population. It is therefore not surprising that the Life Offices, if they accept the risk of underwriting the lives of those with epilepsy, require an excess premium to compensate them for the excess risk.
How is this excess premium calculated? The insurance industry uses statistics based on their past experience. As in employment, it is probable that those with a few seizures calculate the risk of 'getting away with' concealment. In a financial transaction such as insurance, concealment of epilepsy is clearly fraudulent, and any policy arranged in this way is void. Insofar as the statistical data of the Life Offices cannot reflect those with a few seizures who have concealed their epilepsy, it is probable that their experience of the mortality of those with declared epilepsy is worse than the true mortality. This experience tends to inflate the excess premium, but we believe that there are other factors. The Offices may be corporately possessed of some of the misconceptions about epilepsy that this book is trying to dispel. Although they employ a medical officer, few if any of these advisers are neurologists, and a single physician can hardly be expected to provide informed and modern statistics about the disease suffered by each and every proposer. Furthermore, the industry as a whole does not distinguish between different types of seizure occurring with different frequencies and due to different causes. In these circumstances the Offices adopt an attitude of 'better be safe than sorry' and charge a premium that is in excess of standard rates.
There is often a considerable difference between the excess rates quoted by various Offices, so it is well worth while seeking professional advice from an insurance broker. For people in the UK, the firm of Tyser and Company, 12 Camomile Street, London EC3A 7PT have built up a considerable experience of arranging life insurance for those with epilepsy. In general, they expect that any proposer with epilepsy should have been adequately investigated to exclude a progressive organic cause, and that the proposer should be reliable at taking his prescribed medication and in following medical advice. It is very much easier to arrange insurance for those capable of employment and without intellectual impairment, although in other cases a quotation can usually be obtained.
We asked Tyser and Company for their views about three specific examples. Although useful as a general guide, readers must understand that rates will vary as each person with epilepsy is different both in his problems and in his or her requirements for insurance.
Proposal 1 A man aged 27 next birthday who had frequent seizures in childhood, several
seizures in adolescence, and none over the last eight years.
Ordinary rates of premium would be allowed for this case, for any class of
Assurance.
Proposal 2 A man aged 33 next birthday who had a single seizure one year ago. No evidence of
any progressive organic disease. For Term Assurance, where the ordinary rate of
premium is very low, a loading of 50 per cent would be considered by some Offices.
For other types of insurance the market would consider that a small loading for a
short period of one or two years was justifiable. It might be possible to gain
acceptance at normal rates, and this would be easier if the interval between the
seizures and the proposal were longer.
Proposal 3 A man aged 25 next birthday who has had frequent grand mal fits since the age of
16, with four fits in the last year. Assurable, but subject to an extra premium. The
actual amount would probably vary among those Life Offices which are prepared to
accept proposals from those with epilepsy, but in terms of additional mortality, one
underwriter considers that plus 100 per cent would be a reasonable loading. At first
sight this appears high, but regard should be given to the very low mortality rate of
assured lives at this young age. In monetary terms the additional premium for Whole
of Life Assurance would be ?2.50 per annum for each ?1000 of sum assured. One
underwriter's practice would be to limit the term of payment of this extra premium to
a period of ten years, but this is by no means general within the industry.
*85\188\2*
Epilepsy
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