As an individual, you know the value of life insurance. It helps protect your family if a tragic event takes you from them. Yet, insurance agencies have to take steps to minimize financial loss. To do so, they typically want to know just how healthy a person is before providing coverage. Sometimes, affordable life insurance is hard to find by those with health complications. Why is this?
If you have a health complication, be honest and open with your life insurance agents. They will work with you to find available options. And, do not assume you cannot obtain life insurance. Many people – even with complex health conditions – may be able to find some options.
When Health Limits Your Access
Each insurer sets rules on when it will provide a policy to a person. They do not make this decision based on an individual, but rather on rules related to risk. What insurers know is that some people who have specific types of health issues are more likely to die sooner than those who do not have these concerns. These are higher risk people. They create more risk to the company and other policyholders. As a result, life insurance may cost more. In some high-risk situations, the policy may not be available.
What Types of Illnesses Fall Into This Category?
Some common concerns related to health involve diagnosed conditions. Conditions such as cancer and advanced heart disease often indicate a shorter lifespan. Individuals with multiple illnesses may also face limitations.
However, you may have symptoms or conditions that could, at some point, trigger a worse outcome. These warning signs can impact life insurance premiums. This includes high blood pressure. It includes high cholesterol tests. If you are anxious or have a diagnosis of depression, this can play a role in risk factors also. Those who have heart disease often have limitations. Obesity is another key and important warning factor. Acid reflux is as well.
If you have these conditions, get help for them. You improve your chances of obtaining life insurance when conditions are under control. Do not assume life insurance is inaccessible or too costly if you have these conditions. Rather, work with your agent by calling 515-964-2927 to find the right coverage for your needs. Many people will have opportunities available. The key is to be clear with your agent about your health risks and what you are doing about them.