When applying for life insurance coverage, there are a variety of different criteria by which your premium – and even your overall approval – for a policy is determined. Certainly, your health ranks at the top of this list. One of the most common reasons that people don’t purchase life insurance is because they assume that it’s going to be too expensive, but in most cases, that couldn’t be further from the truth. Life insurance is one of the best ways to ensure that your family has the money that they need.
This is because your health is a big determinant of how long you are likely to live, based on actuarial tables – and this can be a big predictor of whether or not the life insurance company may be required to pay out death benefit proceeds while you are still insured by the policy.
Those who are in exceptionally good health are not only likely to qualify for life insurance coverage, but also for what is considered to be a “preferred” rate. This means that very healthy individuals are given a discount on their premium, because in all likelihood – barring any unforeseen accident – it is likely that they will either outlive their coverage (if it is a term policy) or that they may cancel their life insurance coverage prior to needing the proceeds. In either case, the life insurance company will stand to make a profit from these particular policyholders.
But what about those who are not in good health or those individuals who have a predisposition to certain health related conditions? These individuals may have a harder time qualifying for life insurance coverage. And if they do qualify, it is highly likely that their premiums will be higher than those for a comparable policy that is purchased by a healthy individual.
Some health conditions are uncontrollable. However, others can be lessened – or even prevented – with the proper medication and lifestyle choices. Some of these health conditions – with the proper control and/or treatment – may even keep your life insurance policy premium lower than it otherwise would be.
If you want to save money on your life insurance coverage, you should always follow your doctor’s orders and make regular check-ups. Not only will this help improve your health, but it will also show the insurance company that you’re dedicated to improving your health. Regardless of what your health complication is, it’s important that you adhere to everything that your doctor says.
Keeping Your Blood Pressure In Check
Having high blood pressure can lead to a number of more serious health conditions, including heart disease, heart attack, stroke, or even kidney disease. Any of these ailments could be enough for a life insurance company to deny you coverage altogether.
The good news is, though, that those who have their high blood pressure under control may still qualify for a policy. In fact, for those who have their blood pressure in such control that it is consistently read at a normal level, there is even a chance of qualifying for a preferred premium rate.
The key is to control your blood pressure by getting regular exercise, eating healthy foods such as fruits and vegetables (and concurrently staying away from fried foods), and getting at least 7 to 8 hours of sleep per night.
Sleep Apnea Disorder
Although many people may not realize it, sleep apnea can be a life-threatening disorder. Those who possess sleep apnea typically will stop breathing for short periods of time during sleep.
Those who have their sleep apnea under control with medication or even via a breathing machine that helps to regulate breathing during sleep are much more likely to qualify for a life insurance policy.
Aside from a CPAP machine, making a few simple lifestyle changes could cure your sleep apnea and improve your overall health. For example, cutting out cigarettes could drastically improve your health and eliminate your sleep apnea problems. Additionally, losing weight can also help you get the quality sleep that you need.
Preventing Heart-Related Conditions
Certainly any issue that is related to the heart can become a life-threatening concern – and this is a definite factor in qualifying and/or pricing for life insurance policies. Due to the fact that heart disease can sometimes be difficult to document, life insurance underwriters will often look closely at an applicant’s family history in order to make their final determination.
Here again, eating right and getting the proper amount of sleep and exercise on a regular basis can help in either preventing or in stopping the progression of heart-related conditions. However, those who have more severe heart-related conditions may be denied for coverage altogether.
Taking Control of Weight-Related Conditions
It has been estimated that over 30 percent of all Americans are considered to be overweight, and another 30 plus percent are classified as being obese. In many ways, our body weight can lead to other more life threatening conditions. Therefore, life insurance companies consider obesity as being a health condition itself.
Most life insurance companies have tables that categorize various weight classes as compared to a person’s gender and height. And, depending upon the overall height versus weight classification, an applicant may qualify for coverage at a higher, or “substandard”, premium rate. Others who are considered to be morbidly obese, however, may not qualify for coverage at all.
It is important to note that obesity is not the only weight-related condition that is considered by life insurance underwriters. Those who are underweight or malnourished are also considered to have a negative health related condition. Similar to other health conditions, a more healthy eating regimen, along with the proper amount of exercise and sleep will help in getting most weight-related conditions under control.
Watching Your Cholesterol
Even though having high cholesterol is not considered an actual health condition, it is thought to be a big contributor to other serious conditions that may deem an individual as being uninsurable (or at least put into a higher risk classification).
By watching what you eat – especially in relation to fried or other unhealthy types of foods – you may still have a good chance of qualifying for coverage. And, in some instances where high cholesterol is well managed, you may even be offered a preferred rate of premium.
Putting It Altogether
In addition to purely health related information, the life insurance underwriters will also be looking at additional factors as they review your application for coverage. For example, information that is of importance when applying for life insurance will include such factors as your:
- Height and weight (your weight as it relates to your height)
- Smoking status / tobacco usage
- Alcohol usage
- Family health history
- Hobbies / habits (i.e., participation in dangerous activities such as rock climbing or scuba diving)
For example, if you are in your 30’s and looking to get life insurance for your parents then you are going to pay more because of their age than if you were shopping for your own policy.
How to Apply for the Coverage That You Need
When you’re ready to apply for the life insurance coverage that you need, it is often a good idea to compare policies, insurers, and premium quotes. This will help you in determining which plan will be best for your coverage needs, as well as which premium will best for your budget. You may find that you need life insurance without a physical exam or you can qualify for a standard policy.
We work with many of the top rated life insurance carriers in the marketplace today – and we can get you the information that you need quickly, easily, and very conveniently, right from your home computer, and without the need to ever have to meet in person with a life insurance agent. When you’re ready to get the process started, all you need to do is fill out the form on this page.
If you have any questions as you go through the process, the experts at LifeInsuranceUnited.com can assist you. We want to ensure that you have all of the essential information that you need in order to make an informed decision as you purchase the protection that you need for those that you care about. We can be reached by calling 334-380-4188, toll-free.
We understand that the purchase of life insurance can seem to be overwhelming. There are lots of details to be mindful of. With that in mind, we are here to help you make sense of it all. So, contact us today.
Life insurance is one of the things that people tend to put off until “next year,” but continuing to wait is a dire mistake. You never know what life’s going to throw at you tomorrow. You shouldn’t wait another day to get the insurance protection that your family deserves. If you have any questions about getting affordable life insurance or about life insurance in general, please contact one of our experienced agents today.