Health Conditions
A pre-existing condition does not mean you cannot be insured.
If you have a health condition, it is important not to despair if you are searching for any kind of insurance by yourself. Most of us have some type of health condition. Did you know that about 5% of life insurance applicants actually get the preferred best (i.e. very healthy) rating? Most likely, even with health conditions, you can and will be able to secure life insurance. Depending on the severity and type of condition, you could even secure preferred or standard rating! So, don’t despair. Talk to us to help you find the right policy for your unique situation.
Below are common ailments and health conditions. Each contains what, in general, an insurance company looks for in their underwriting process. Check out our education center for specific information on these complications. As we mentioned, every insurance carrier is different in how they underwrite. For instance, some companies may cover SLE lupus while others may ignore SLE lupus. It is important to work with My Family Life Insurance to ensure your specific situation is addressed. We know which insurance companies are best to use for a corresponding health condition.
It is important to note that if you have many health complications, that can add to the complexity of the insurance placement. That doesn’t mean you won’t be insured. It does mean you need to be upfront and forthright in your application and let us know everything about your conditions. We recently placed a person who was diagnosed with SLE. While there are other factors involved and no two situations are the same, he was upfront, clear about his condition, and provided the necessary information we needed to present his situation to the insurance carrier.
Many carriers implement credits for healthy way-of-living which can offset health complications. For instance, let’s say you have type 2 diabetes, and you show you have managed it well, your BMI is great, and you are otherwise a healthy person, the insurance carrier may grant you standard rating rather than a table rating (this is just an example for illustration).
Common Health Conditions
Here are some of the common health conditions and generally what insurance companies look for:
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Rheumatoid Arthritis – no flares or inflammation; stability, standard rating
Diabetes – if diagnosed before age 20, usually decline. If type 1, controlled, good height/weight and HDL, table 2 rating. If type 2 diabetes, standard rating to table 2
Lupus – if no flares, controlled, diagnosed after age 20, standard to table rating (depends on situation)
Obesity / Build – if no additional health complications, good blood pressure and cholesterol readings, standard rating which can be offset by health credits
Autism – must be high functioning and not dependent on services. Generally standard rating or with a rating
Multiple conditions – depending on the conditions and prescription drugs, can be standard rating
High Blood Pressure – documented controlled, even with medication, preferred to table rating
Asthma – mild, up to standard rating. Severe or persistent – table rated to a decline
Atrial Fibrillation / Flutter – if not from heart disease, if stable, and no other issues – standard rate
Coronary Artery Disease – if maintained through consistent physician visits, normal ECG and negative stress echocardiogram – standard to table rate
Cancer – really depends on the situation. If completely removed, no reoccurrence, and after a time lapse of a minimum of 5 years, can be standard or better
Depression / Anxiety – mild and documented, well controlled – standard to table 2 or 3
Leukemia – as with cancer, it really depends on an individual basis. If fully recovered, no issues, and documented record of physician involvement, we have placed clients at standard rating and better based on health credits
Again, these are just some of the many health conditions we have helped clients with. We have helped many clients secure life insurance at an affordable price, placing them with the right carrier for their specific situation.
We have helped many clients with the following health conditions, either for fully underwritten life insurance or final expense / burial insurance:
Guaranteed issue term life insurance
guaranteed issue life insurance no waiting period
We also discuss new underwriting processes:
LexisNexis Risk Classifier Score
How life insurance tables work