A significant part of the life insurance application process is the medical exam. Before the insurance company approves your application, they are going to want to know how much risk that you are for coverage. The more risk that you are, the more that they are going to charge you for the insurance protection.
During the medical exam, one factor that they are going to look at is your cholesterol.
Life Insurance with High Cholesterol
Having high cholesterol can be terrible for your health. Not only can it harmful to your body, but it’s also going to hurt your bank account as well. Anyone with high cholesterol is going to be considered a “high-risk” applicant for insurance, which means that you’re going to pay more in premiums.
Let’s talk a little bit about cholesterol itself and how it can affect your health. While everyone knows that having high cholesterol is bad, very few people understand what it is or what it does.
Cholesterol itself is not bad. In fact, there are two types of cholesterol, HDL, which is good cholesterol, and LDL, which is bad cholesterol. Cholesterol itself is a waxy substance that is used by the body to keep us healthy. Our body produces cholesterol itself, and we also get some of it from the food that we consume.
If your cholesterol is too high, then you’re going to be at a higher risk of having a heart attack and stroke. Being at a higher risk for those health problems means you’re a higher risk to the insurance company. In some cases, your high cholesterol can be a symptom of your diet, or in other cases, it could be because of your genetics.
Having high cholesterol doesn’t mean that you have to pay a fortune for your life insurance coverage. There are ways you can get lower insurance premiums. When you apply for coverage, the company is going to look at several key categories of your cholesterol, such as:
- How long have you had high cholesterol?
- Do you take any medications for it?
- Do you have control over it?
- Do you have any other pre-existing health complications?
No Exam Life Insurance With High Cholesterol
As you can see, the exam part of the policy is very important. Maybe you don’t want to go through all of the trouble of taking the exam, getting poked with needles, or taking time off work, then you have some options.
You’ve probably heard of no exam life insurance coverage, but you may not know why you should consider one of these plans.
Obviously, you don’t have to take the exam, so how does the carrier rate your coverage? They aren’t taking random guesses. They are going to use a variety of different info.
First, they will pull up any previous medical records. This will include your doctor’s notes, your basic health info, and any medical conditions you’ve been diagnosed with.
After this, they are going to look at your prescription records. Similar to your medical records, they are going to look for any red flags on any medications you’ve taken in the last several years.
Lastly, they are going to check out your DMV records. Yes, they are going to see how good of a driver you are.
They are going to combine these three records to get a rough idea of your risk for protection. Without the medical exam, they are getting less info, and they are going to be more conservative with their premiums. They want to protect themselves from losing, which is going to raise your premiums.
Sure, no exam life insurance is less stressful and quicker, but you’re going to pay for it. Do you want cheaper rates or do you want to avoid the exam? You’ll have to take your pick.
Getting Lower Insurance Rates
No one wants to spend a fortune on a life insurance plan, there are several ways you can secure better premiums from the insurance company. Making a couple of changes to your lifestyle can save you thousands of dollars every year:
- Stop using tobacco products
- Get in shape
- Begin a healthier diet
There are hundreds of companies to get life insurance coverage from, which means you could spend hours upon hours trying to figure out which company and what plan is the best for your family. Instead, let us get you the information that you need to make the best decision.
Unlike a traditional insurance agent, we work with many insurance companies. Every company has different medical underwriting, and finding the right company is the difference in getting an affordable policy or one with drastically higher premiums.
If you have any questions about getting life insurance with high cholesterol, please contact one of our agents today. We have years and years of experience working with clients with high cholesterol. We know which companies give you the best rates. We can save you both time and money on your life insurance search.