Don’t fall into the trap of thinking that you can’t afford life insurance simply because you have high cholesterol. Many individuals seeking life insurance have some kind of health issue or another, but if you have been able to control your cholesterol condition or it appears relatively stable, getting life insurance should not be a problem for you. It is definitely possible for you to get life insurance with high cholesterol and here is everything you need to know related to life insurance! The following are some key points from this article;
- Insurance companies use ratings to classify which groups of people are most likely to remain healthy and which groups face a higher risk of mortality. Since high cholesterol has a link to heart disease, it’s important to know that you may be facing higher rate classes as a result of your condition.
- There are two primary types of cholesterol: HDL, also known as the good cholesterol, and LDL, often referred to as bad cholesterol. It’s critical that you understand the difference between these two and know what levels of each you already have. Too little or too much of one type of cholesterol can increase your risk of heart disease.
- When you apply for a life insurance policy, one of the first steps you’ll need to complete is a medical exam. During the course of this exam, you will need to answer questions about your lifestyle, alcohol usage, smoking habits, and family history.
Why is High Cholesterol an Issue?
Insurance companies use ratings to classify which groups of people are most likely to remain healthy and which groups face a higher risk of mortality. Since high cholesterol has a link to heart disease, it’s important to know that you may be facing higher rate classes as a result of your condition. There are some factors that may increase your risk of high cholesterol and that includes poor diet, obesity, large waist circumference, lack of exercise, smoking, and diabetes.
Make sure you do the proper research in advance to determine the most appropriate life insurance company to work with. You can improve the chances of being approved at a high rate class with a low premium possible through a quality life insurance company simply by educating yourself about how life insurance companies tend to handle high cholesterol applicants. Understanding what they look for and the possible outcomes of your application is a great way to start your research.
What Does it Mean to Have High Cholesterol?
As an individual with high cholesterol, you may already be aware that not all cholesterol in your body is actually bad. Cholesterol, when in the proper amounts, is simply a substance used to help keep your body healthy. Some of the cholesterol that you need for functioning is already produced in your body, but some of it also comes from the food you eat. There are two primary types of cholesterol: HDL, also known as the good cholesterol, and LDL, often referred to as bad cholesterol. It’s critical that you understand the difference between these two and know what levels of each you already have. Too little or too much of one type of cholesterol can increase your risk of heart disease. While LDL cholesterol is naturally produced by your body, many people inherit genetic traits that make them more likely to make too much. This cholesterol circulates throughout your blood and can clog arteries at high levels, increasing your risk for heart attack or stroke.
The Impact of Cholesterol
If you have problems with high cholesterol, you’re not alone. According to research, about one in every six adults across the United States has high total cholesterol. More men than women tend to be affected by high cholesterol. Don’t look so sad you can overcome this! All you have to do is change your diet and cut out the saturated fat that is found in animal products, and trans fats that are found in cookies and crackers. You can also start exercising and stop smoking! Once you do all that you will be surprised how much better you feel and how much more you can accomplish with the proper nutrients and exercise.
How Does High Cholesterol Influence Life Insurance?
When you apply for a life insurance policy, one of the first steps you’ll need to complete is a medical exam. During the course of this exam, you will need to answer questions about your lifestyle, alcohol usage, smoking habits, and family history. The person administering your example also measure several of your health indicators, such as blood pressure, pulse, weight, or height. Giving a blood sample will be used to test your lipid and cholesterol levels. If you’re on a medication that helps to lower your cholesterol levels, there’s no need to get worked up over the process of going through this medical exam. If you have been successful at lowering your levels, you don’t need to be as concerned about your past levels. If you been able to get your high cholesterol under control, you may be able to obtain a cost-effective and high-quality life insurance policy.
What will your premiums look like?
We can’t give you an accurate number on what your premiums will look like because we don’t know your HDL ratio but here is a couple of examples of what it can look like. If you have high cholesterol but it is very controlled by medication you may still be able to get a preferred best or preferred plus rate class but that depends on the company. Most of the clients we get who have managed to control their high cholesterol have come back at a preferred rate class, of course, assuming there are no other health issues. If your HDL ratio is 4.5 and under you may be eligible for preferred plus rate class again assuming you have no other health issues. If you have high cholesterol but also have diabetes you may be eligible for a standard rate class with certain life insurance companies. If you are looking for a more precise number give us a call and let us take a look for you, keep in mind that if you go to our quote engine or anybody else’s, in that case, your quote will be inaccurate because the quote engine will not know your HDL levels or that you have high cholesterol. For a full breakdown of the different health classifications or rate class click here!
What do Life Insurance Companies want to Know?
Since cholesterol can put you at risk for heart disease and other problems, life insurance companies are primarily concerned that you are taking the cautions and medications to help keep your cholesterol under control. If your medical history demonstrates that you have been able to control your condition with medication and other steps, you should not have much to worry about. They will look at factors such as whether you’re a tobacco user, whether there are any other medical conditions at the time of your application, the degree of control you exercise over your high cholesterol, and how long you been affected by high cholesterol. Ultimately your approval will depend on when you were diagnosed, the medications that you take, your total cholesterol number, and your HDL ratio.
What is the process of getting coverage?
If you have never been diagnosed with high cholesterol but it’s a concern of yours because you have a family history of high cholesterol then you should consider a no medical exam policy. You would be surprised at how many times people don’t even know they have high cholesterol and high blood pressure until their medical exam and get rated up like crazy. To avoid getting rated up you should purchase a no medical policy. A no medical exam policy is exactly what its name is, a policy that doesn’t require a medical exam. It is slightly more expensive than a traditional policy but it will not be as expensive as it will be when they diagnose you.
Let’s say you decide to buy a traditional life insurance policy, you will need to undergo a medical exam. Once you apply with your agent you will schedule a time and place most convenient for you to undergo your medical exam. The nurse will come out and take your blood pressure, check your height and weight, and of course take a blood sample. The carrier will request physician statements and look into your medical records.
Remember that not all life insurance carriers are not the same
If you didn’t already know then now you know that all life insurance companies are different. Every life insurance company has their own niche or specialty. That’s another reason why you should work with an independent life insurance agency to steer you in the right direction. It is important to understand a company’s niche especially if you have a medical condition otherwise you will end up paying for a life insurance policy that could be less expensive then it is. For example, you have high cholesterol and you decided to go with company ABC so you applied with the company and got a worse rate than you thought and now are paying a whole lot on your premiums because you didn’t realize that company ABC doesn’t specialize in high cholesterol they specialize in sleep apnea. Basically, working with a company who specializes in high cholesterol is the way to go unless you want a horrible rate. You really can’t blame company ABC because they don’t understand high cholesterol they only understand sleep apnea. If you had gone with a company who specializes in high cholesterol you would be able to get a better rate and pay premiums that are fairer.
How Can I Prepare?
If you have not been able to get your cholesterol under control at the present time, it may be in your best interest to wait to apply for life insurance until you have found a medication that helps you do this. Speaking with professionals who have a background in life insurance industry can be helpful for identifying carriers and products that tend to work for individuals with high cholesterol levels. Remember that not all life insurance companies are the same, and doing your research can save you time and money. Work with us today, we are an independent life insurance agency who work with over 60 top rated companies and are on a mission to make life insurance simple! Let us do all the shopping for you and we will even fill out the application for you and get you covered in no time, did we forget to mention our services are 100% FREE because they are!
