Avoid surprises when applying for life insurance—for you and your provider.
When it comes to life insurance, not all premiums are created equal. And while shopping around is often recommended, there are certain health conditions that all carriers will take into consideration when determining your cost. Many of them may cause your rates to increase. Before you begin the process of looking for the best rates, it’s a good idea to know what you’re up against, so here’s a list of some of health conditions that can affect your life insurance premiums.
Type 2 Diabetes
As if you don’t have enough to worry about, if you have Type 2 Diabetes the reality is that your condition makes you a bigger risk for life insurance carriers. This is because Type 2 Diabetes can lead to many other health issues, like heart disease, stroke, blindness, renal failure, and others. And while being younger usually means lower life insurance premiums, in the case of diabetes, the opposite is actually true. That’s because if you have Type 2 diabetes at say 45 versus 75, you’re at a higher risk to suffer with many of the related conditions.
High blood pressure
Millions of people suffer with high blood pressure so having this condition may not adversely affect you when you’re searching for life insurance. If you are being cared for by a doctor and are managing your blood pressure, you should be able to secure a good rate. Of course it may be lower if your blood pressure was normal. And because there are many diseases associated with high blood pressure, like heart disease, stroke, or peripheral artery disease, you will likely have to be examined or to show your medical history to ensure you are clear of any other issues.
One of the biggies, heart disease, is always a concern to life insurance carriers. When you apply for coverage, you will likely be asked about your condition, if you had any heart attacks, and the damage you sustained to your heart. You will also have to provide your medical history to help the insurer determine the severity of your risk.
Obesity or other weight related health conditions
Because there are so many dangerous conditions associated with obesity, it is considered to be a health risk by most insurers. Coverage will be determined by your body mass index which indicates the level of obesity. Often, applicants who are deemed morbidly obese may be denied coverage all together.
On the flip side, those who’ve suffered with anorexia, bulimia, and other eating disorders, may have trouble getting coverage or be required to pay higher premiums. These conditions weaken the body and lead to malnourishment, among other health problems, which are considered high risks to the insurance companies.
Snoring is common but sleep apnea is a condition in which you stop breathing during sleep. For this reason, those with sleep apnea are often considered at higher risk to life insurers. It can also cause other health issues including high blood pressure and heart disease which makes it more serious than most people consider. There are treatments and ways to manage this disorder however, and because of that, many insurance providers will take that into consideration when determining premium costs.
When you’re looking for life insurance, remember that although these ailments may affect your premiums, most of them will not eliminate your chances of getting coverage. It’s important to be straightforward and disclose any health conditions you have upfront to avoid any issues later.
And when you’re ready, get in touch with us. We understand how important life insurance coverage is and partner with carriers who may be more lenient. Our professional staff can find you the ideal solution for your needs.