Term Life Insurance Articles
How Sickness Relates To Your Term Life Insurance Quote
2010-12-05
Your current health condition will always affect your life insurance quote. You don't have to be an underwriter to figure out how sickness and life insurance premiums are correlated. Insurance companies have it down to a science. They've already asked the following questions: Does poor health today determine when you will pass away? What health issues are to be taken more seriously than others when estimating longevity? Underwriters have translated the answers to these questions into dollar amounts to be paid according to how healthy you are at the time you apply for term life insurance.
Certain health conditions and lifestyle issues that are related to your health are flagged by underwriters to signify you are not a good risk, and therefore you should be charged a higher premium just in case you pass away during the period of coverage. The following health issues may cause you to have to pay higher premiums or may disqualify you from term life insurance completely:
Pre-Existing Conditions
These include cancer, heart disease, neuromuscular disorders and even asthma. Companies vary as to which pre-existing conditions they will consider covering and which they will not, so you may have to hunt around for a generous policy that covers your particular condition.
Obesity
You may think of yourself as just a tad overweight, but if your BMI says you're obese, you may be in for a higher premium. That's because obesity is linked to a host of health problems, many of which cause early death. You best bet? Lose the weight before you apply. Let the money you'll save inspire you!
Mental Illness
If you have attempted suicide or are on antidepressants, you may be considered high risk because depressed people take more risks, making them more likely to pass on during the term of coverage.
Smoking
While smoking is not a sickness per se, it is an addiction and is it related to a host of health problems. You will definitely receive a higher life insurance quote if you confess to smoking on your application. If you used to smoke but have since quit, make sure to make this clear on the application.
After learning how underwriters feel about the connection between sickness and life insurance premiums, you may be tempted to lie about your health or lifestyle. Don't do it! One of the most common reasons for insurance denial is fraud. The Medical Insurance Bureau keeps a record of all your health insurance applications, so if you confessed to smoking on a previous application and now say you've never smoked, you'll get disqualified, and that disqualification will go on your record, affecting future applications.
Free Insurance Quotes
Your current health condition will always affect your life insurance quote. You don't have to be an underwriter to figure out how sickness and life insurance premiums are correlated. Insurance companies have it down to a science. They've already asked the following questions: Does poor health today determine when you will pass away? What health issues are to be taken more seriously than others when estimating longevity? Underwriters have translated the answers to these questions into dollar amounts to be paid according to how healthy you are at the time you apply for term life insurance.
Certain health conditions and lifestyle issues that are related to your health are flagged by underwriters to signify you are not a good risk, and therefore you should be charged a higher premium just in case you pass away during the period of coverage. The following health issues may cause you to have to pay higher premiums or may disqualify you from term life insurance completely:
Pre-Existing Conditions
These include cancer, heart disease, neuromuscular disorders and even asthma. Companies vary as to which pre-existing conditions they will consider covering and which they will not, so you may have to hunt around for a generous policy that covers your particular condition.
Obesity
You may think of yourself as just a tad overweight, but if your BMI says you're obese, you may be in for a higher premium. That's because obesity is linked to a host of health problems, many of which cause early death. You best bet? Lose the weight before you apply. Let the money you'll save inspire you!
Mental Illness
If you have attempted suicide or are on antidepressants, you may be considered high risk because depressed people take more risks, making them more likely to pass on during the term of coverage.
Smoking
While smoking is not a sickness per se, it is an addiction and is it related to a host of health problems. You will definitely receive a higher life insurance quote if you confess to smoking on your application. If you used to smoke but have since quit, make sure to make this clear on the application.
After learning how underwriters feel about the connection between sickness and life insurance premiums, you may be tempted to lie about your health or lifestyle. Don't do it! One of the most common reasons for insurance denial is fraud. The Medical Insurance Bureau keeps a record of all your health insurance applications, so if you confessed to smoking on a previous application and now say you've never smoked, you'll get disqualified, and that disqualification will go on your record, affecting future applications.
