Given the fact that so many Americans today seem to be struggling with their cholesterol levels, it comes as no surprise that we’ll often have folks asking us if taking prescription medication to help lower their cholesterol levels will affect their life insurance application.
The only problem with answering this question right away…
Is that “some” cholesterol medications can be prescribed to folks with a “host” of other pre-existing medical conditions that can have some serious consequences on a person’s life insurance application. For example, let’s take a look at Zocor, a medication that is commonly used to help folks lower their cholesterol levels.
Zocor (simvastatin) is a prescription medication categorized in a group of drugs called HMG CaA reductase inhibitors, or “statins” which reduce levels of “bad” (low-density lipoprotein or LDL) and triglycerides in the blood, while increasing the levels of “good” (high-density lipoprotein, or HDL) cholesterol.
Zocor has also been shown to be effective at lowering the risk of stroke, heart attack and other complications in people with diabetes, coronary heart disease or other risk factors.
What you’rer generally going to find is that if you’re simply using your Zocor to lower your cholesterol levels and you don’t have a history of suffering from a stroke, heart attack or been diagnosed with diabetes, there’s a good chance that you’ll still be eligible for a Preferred rate class during your life insurance application.
However, if you do have a history of stroke or heart disease, or you have been diagnosed with diabetes, what you’re generally going to find is that you’re no longer going to be eligible for a Preferred rate class, and you may even find it difficult getting approved for life insurance all together!
Ultimately, your life insurance approval will come down to 2 things…
First, what type of pre-existing medical conditions do you have, how long have you been treating them and finally how well are they being managed today.
Second, do you know which insurance company is going to have the best underwriting guidelines for you and you’re pre-existing medical conditions?
Not all life insurance companies use the same underwriting guidelines. Which means that it’s quite possible that the “rate” that you’ll qualify for can vary significantly depending on which life insurance company that you choose to apply for coverage with, or it could even mean the difference of being approved for life insurance vs being denied simply because you chose to apply with the “wrong” insurance carrier.
This is why…
We here at TermLife2Go have chosen to remain an independent life insurance brokerage that is able to works with dozens of life insurance companies. You see, when you don’t have to rely on just one or two different life insurance companies to give you the answers that you’re looking for, you really do have a much better opportunity for success.
This is why throughout the entire life insurance application process, we’re constantly comparing different underwriting guidelines from numerous insurance companies so that at the end of application process, we know that we’re going to send your application to the insurance company that we feel will give you the best opportunity for success.
Now is it really all that difficult to get approved for life insurance while taking a prescription medication to lower my cholesterol levels?
No it isn’t, but by applying the same methodology that we would use on those more “challenging” case to simple cases that simply involve elevated cholesterol without any other pre-existing conditions, often times, we’ll even surprise ourselves with how good of a deal we can secure for our clients!
Now as we stated before, here at TermLife2Go, we work with dozens of the “best” life insurance companies in the nation, so if you’re ready to take the next “step” and see what your insurance might cost, simply visit our Life Insurance Quotes page and instantly see if we have anything that might meet your needs.
And since we still have your attention…
It’s fair to say that most people who decide to purchase a life insurance policy do so that they can protect their loved one’s financial future in the event of their death.
But what happens if you get sick but don’t die?
Is your family’s financial future still protected? Probably not. Which is why we would encourage you to also take a look at the following articles which will discuss some other “types” of life insurance policies that can not only protect your family’s financial future, they could also significantly help our your own as well.