Your Health and Insurance: How Health Problems Affect Life Insurance

A health problem is a medical issue you were diagnosed with or treated for before applying for life insurance. Insurers often classify applicants into standard, preferred, or super preferred rate groups based on their health. Each class has a different name depending on the insurer, but the aim is to classify the risk of insuring you based on your health. Each insurer has its own underwriting process; some are more lenient than others when it comes to particular problems. If you have one or more of the following health conditions, it may trigger a red flag:

  • Asthma
  • Cancer
  • Depression
  • Diabetes
  • Epilepsy
  • Gastroesophageal reflux disease
  • High blood pressure
  • High cholesterol
  • Heart disease
  • Obesity

How Do Pre-existing Health Problems Affect Life Insurance?

Insurability is determined by several factors, including your diagnosis, related health conditions, and how well your illness is managed and monitored. Many people with chronic diseases can now live long and productive lives due to medical advancements and the availability of preventive strategies. As a result, several insurance companies are now providing coverage for people with well-managed health issues. However, every insurer underwrites differently, and there will always be some health issues that will prevent you from acquiring life insurance.

How Does My Health Affect the Cost of My Life Insurance Policy?

The amount you pay for your life insurance policy is determined by a number of criteria, including your health. All of these variables can be grouped under the following key variables:

  • For how long do you want coverage?
  • How much coverage do you need?
  • Your health and lifestyle
  • Your age and gender

Common Health Problems and Life Insurance

People with pre-existing conditions frequently believe they will be unable to obtain life insurance or obtain affordable life insurance quotes. The truth is, even if you’ve been diagnosed with a common health problem like anxiety, asthma, depression, high cholesterol, hypertension, weight problems, or sleep apnea, you may still be able to acquire life insurance, provided your condition is well-controlled.

The good news is that medical advancements have improved patient outcomes, which has led to better rates. If you’re in remission or have a well-managed chronic disease, you may be eligible for standard or even preferred rates.

Your health status is all the more reason you need life insurance. To get started, you need to purchase a policy. Lou Aggetta Insurance has the best life insurance policy to suit your needs at affordable rates despite your health.  Contact us today to get a quote!