At Insurance Specialists, Inc., we understand that many Americans feel
that they won’t qualify for
life insurance due to health concerns. Although life insurance companies will come to
a decision about health based on the severity of the condition and if
it’s currently being treated or not, the majority of people with
common health conditions are able to find affordable coverage with the
medical help of a doctor to manage the condition. Depending on the company,
he risk involves assigning customers a health rating (standard, preferred
and preferred plus), which comes with a 20% to 30% change in price from
one rating to the next.
The following are the most common health conditions:
Acid Reflux (GERD) – Capable of leading to ulcers and possibly cancer, life insurance
companies believe there is a risk. Fortunately, individuals who treat
their mild GERD with over the counter medications are still eligible for
preferred plus rates. Those under medication for mild to moderate GERD
are eligible for preferred. Moderate to severe GERD individuals who experience
ongoing treatment or surgery would qualify for standard rates.
Anxiety – The most common form of mental illness, resulting in 18% of Americans
suffering from this condition. Depression, substance abuse and insomnia
are what makes this condition risky for life insurance companies. If the
condition is managed properly by being on one medication prescribed by
a primary care physician, then individuals with anxiety can be eligible
for preferred plus rates.
High Blood Pressure – Also known as hypertension, high blood pressure can result in serious
health issues if it’s not treated. Life insurance companies must
analyze the severity of the condition and if it’s being managed
with medication. Generally, an individual with 150/90 or lower with medication
is eligible for standard rates, while an individual with 140/90 or lower
without medication can qualify for a preferred rate.
High cholesterol – Having a total cholesterol over 200 mg/dL is considered high.
Life insurance companies may categorize an individual as regular if their
cholesterol is no higher than 300-350 mg/dL. Below 250 mg/dL may make
an individual eligible for a preferred rate, while 220 mg/dL or less with
medication could classify them under the preferred class.
Obesity – Over 1/3 of the U.S. population is considered obese. Most companies
use the body mass index (BMI) number to determine an individual’s
rate class. BMI of 26-28 is eligible for preferred plus, BMI of 27-34
can be preferred, and 35-38 or higher is considered standard.
For more information about our rates,
contact us at (888) 451-0883 today.