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Qualifying for Life insurance with High Cholesterol
Health is a main factor that life insurance companies look at when determining if you qualify for life insurance.
While having high cholesterol can affect how much your policy costs, it typically doesn't keep you from obtaining a life insurance policy.
Can I get life insurance with high cholesterol?
The quick answer is yes.
Life insurance companies will most likely ask additional questions to learn more about your unique situation. You can expect similar questions to these:
- when you were diagnosed,
- the medications you take,
- your total cholesterol number
While it is unlikely that a life insurance company would decline you for coverage with just high cholesterol, it is still a possibility.
If you are declined for coverage, know that you have other options. We will get into this a little later.
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How much does life insurance cost with high cholesterol?
There are several things that go into deciding how much your policy will cost. The life insurance companies look at:
- Variety of other things
These are all used to determine your life insurance rate. The type of life insurance policy and the amount of coverage you choose can also determine how much you pay.
For example, term life insurance is the cheapest type of life insurance. However, it is only active for a certain period of time, which may or may not be what you need.
Also, the higher amount of coverage you want the more you can expect to pay for the policy.
What is the process to apply for life insurance?
The type of policy you choose can determine the full process. However, in most cases you can expect to take a life insurance medical exam and/or fill out a health questionnaire.
If you are taking the medical exam, in most cases the examiner comes to your home to check your height and weight and takes a small blood and urine sample. The life insurance company will then use the results to help determine if you qualify for life insurance and how much you will pay for the policy.
The process is handled by your life insurance agent. If you don't have an agent feel free to give us a call and we can help you find the right life insurance policy for you.
What if I've been denied life insurance coverage?
As we alluded to before, if you have been denied coverage from one company you still have options. You can resubmit an application with a different life insurance company and go through the process with them.
If you still aren't sure which company to go with or which policy you need, you may want to consider working with a life insurance agent. An agent can help guide you to the right life insurance company and policy for you and your family. They can also provide you with rates from multiple companies so you get the best bang for your buck.