What Medical Conditions Can Affect Your Life Insurance Premiums?

Life insurance is among the most critical investments you may ever make. These policies can provide a financial lifeline to those in dire need of assistance following the passing of a loved one. Still, while an appropriate life insurance policy may hold significant value, keeping up with premiums is another expense you must budget. Especially during uncertain economic conditions, understanding how various factors, such as medical conditions, might impact your rates can be helpful.

Are Life Insurance Companies Allowed to Consider Medical History?

Indeed, life insurance companies typically consider your health records, including pre-existing conditions, and your family’s medical history. Unlike most health insurance plans, insurers can consider these conditions when calculating premiums and even deny coverage altogether. Additionally, many carriers may require you to undergo a medical exam before agreeing to sell you a policy.

How Can Conditions Impact Insurance Costs?

There is a multitude of medical conditions that may impact your life insurance premiums. Specifically, many carriers might quote higher prices if you have a history of the following:

• Heart disease, such as coronary artery disease, heart attacks and other cardiovascular issues

• Cancer, with various details, including the type, stage and treatment methods completed, often influencing rates

• Diabetes, which can potentially lead to other issues, such as kidney disease

• High blood pressure, which may increase your risk of stroke or heart disease

• Obesity, as it has been linked to many life-threatening health issues

• Mental health conditions, especially if they require hospitalization, are not well managed or are connected with recent substance abuse

We’re Here to Help

At Chapman & Hogan Insurance in Clayton, Missouri, we understand the importance of retaining a suitable life insurance policy, even if your health isn’t perfect. Our dedicated team will work with you to identify options and procure a suitable policy. Contact us today to begin.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.