When shopping for life insurance, there are many factors that are important to keep in mind. The underwriters will review a number of criteria, including the applicant’s age and health condition. For younger applicants, a minor health related issue can oftentimes be a non-issue. However, for seniors, certain adverse health conditions can at times, become more of a hurdle – depending on the particular insurer.
Finding life insurance for seniors with high blood pressure or high cholesterol, for instance, can prove to be difficult if you apply only through one carrier. This is because you are bound only by that particular insurer’s underwriting criteria. However, if you opt to go with a company that is more specialized in working with higher risk cases – especially if that company has access to numerous insurance companies – you can improve your chances of approval exponentially.
What to Expect When Applying for Coverage
When applying for life insurance, younger seniors who have issues with high blood pressure or high cholesterol may still be able to find that they can more easily qualify for less costly term insurance policies – especially if their condition is being controlled via diet, exercise, and prescription medication.
Depending on your age and the severity of your condition, you may be able to find term life insurance with lengths of up to 20 years if you are in your 50s. If you are in your 60s or 70s, it is more likely that you will find term policies available that have lengths of 10 years or less.
Some Things to Keep in Mind When Applying for Life Insurance
When applying for life insurance coverage, the underwriters will review a number of factors in addition to just your high blood pressure and / or your cholesterol issues. Other important criteria will include your age, gender, height and weight (primarily your weight as it pertains to your height), smoking status, occupation and income (if applicable), marital status, alcohol usage, amount of foreign travel (if any), and whether or not you participate in any hobbies or activities that are considered to be risky (such as skydiving or scuba diving).
The answers that you provide on your application for coverage are very important, so it is essential that they are answered as completely and as truthfully as possible. It is likely that the responses that you give to the health related questions may be verified against information that is contained by the Medical Information Bureau (MIB) and / or by requesting information from your doctor.
It is possible that you may need to submit a blood and urine sample as a part of the underwriting process as well. These samples will be analyzed for certain health conditions that could pose the risk of claim to the insurance company. In some cases, you may also be required to take a physical. This will oftentimes depend upon the amount of coverage that you are applying for.
How Much Will Your Life Insurance Coverage Cost?
As with most other types of life insurance, the premium cost of your life insurance coverage will be dependent on a number of different factors. These primarily include the type and the amount of coverage you are applying for, as well as your age, your health condition, and your smoking status. For those who are applying for term life insurance, the premium will also be dependent on the length of coverage.
Regarding your health, if it is determined by the underwriters that your high blood pressure and / or cholesterol issues are well controlled and you are in otherwise very good health, then it may be possible to qualify as a Standard insured. In this case, your premium would be in line with other Standard, or “average,” policy holders who are in your same age category and are considered to be in average health.
If, however, your health is considered to be below average and that you pose more of a risk to the insurance company, you are more likely to be considered as a Substandard risk. In this case, even though you will qualify for coverage, your premium will be higher than the average insured in order to compensate for the additional risk that the insurance company is taking on.
Insureds who are in excellent health and who have a family history of excellent health are oftentimes rated as a Preferred. These individuals will typically pay a lower amount of premium than the average insured. Seniors who have high blood pressure and / or high cholesterol will not typically qualify as a Preferred policy holder.
Where to Find the Best Life Insurance for Seniors with High Blood Pressure or High Cholesterol
For seniors with high blood pressure or high cholesterol, the best course of action when seeking life insurance is to work with a company that has access to several insurers so that they can find the coverage and the premium that is best for them. When shopping for life insurance coverage, we can help. We work with many of the best life insurance companies in the market today, and we can assist you in finding the coverage that is right for you.
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If you have any additional questions as you go through the process regarding how to obtain life insurance for seniors with high blood pressure or high cholesterol, how to get life insurance quotes for seniors, or even about how to buy life insurance in general, please feel free to contact us directly, toll-free, at <XXX-XXX-XXXX>. Our experts can help to answer any of the questions or concerns that you may have so that you can find the very best life insurance coverage for you and the ones you want to protect.