When you apply for life insurance, the company is going to look at several different factors when they are deciding between acceptance or rejection. One of the most significant factors is your health. The health questions and the medical exam play a huge role in the rate calculations.
Aside from high blood pressure, or high cholesterol, one of the more common abnormalities on life insurance exams that we see is an elevation in liver function tests. Sometimes the person doesn't know until the exam that they have above normal elevations, and sometimes a person has been previously declined, or knows from getting a physical with their Doctor that their levels are high. The good news is that some life insurance companies are more apt to approve you if you have an elevation in your liver function tests. In this blog post I’ll cover questions that we will ask you when applying for life insurance that can help us find you the best rate for life insurance with an elevated liver function test.
Life insurance companies care about the results of an Elevated Liver Function Tests because an elevation can be a sign that your liver is not functioning as it should. There are several conditions that can lead to an an elevation that is outside the normal range - such as hepatitis,excessive drinking (alcohol), liver cancer, cirrhosis. There are also medications that can cause an increase in liver function tests, such as Dilantin, phenobarbital, allopurinol and many others. (more…)
When you apply for life insurance, there are dozens of hoops that the insurance company is going to make you jump through before they give you insurance protection. If you have diabetes or you’re overweight, then you might be concerned that you won’t be able to get approved for protection. In most cases, that couldn’t be further from the truth.
Before you apply for life insurance, it’s important that you understand all of the questions that the insurance company is going to ask. Don’t let your health keep you from getting the insurance protection that you and your family deserves.
Everyday I speak with people in unique situations looking for life insurance. By sharing their questions and my responses perhaps I can help others looking for the same information.
Today I spoke to someone with the following question:
“I missed my life insurance payment with state farm and my $100k policy lapsed I have diabetes type 2 and need to replace that policy looking for $100k policy again. “
Here are the questions I asked:
The responses were the following:
45 year old male, 6’1 350 pounds, A1c of 7.6, oral medication only, also has sleep apnea (controlled with a CPAP).
Getting approved for life insurance as a diabetic is possible as long as the diabetes is being treated and under control. However with a “build” (which is what life insurance underwriters call height & weight) of 6’1 350 pounds combined with diabetes, this person would be declined for a regular life insurance policy.
The alternative is to consider a graded benefit life insurance policy - also called a simplified issue policy. These type of policies have only a few health questions you have to answer to qualify for coverage. The policy is called “graded” because the death benefit is graded - it increases a bit for the first few years of the policy until it reaches the amount you buy - for example if you buy a $100,000 graded policy, the $100,000 won’t be fully in effect until after 3 years (or two years depending on the company). In the first, second, and third year, coverage increases each year until it reaches $100,000. In this case the 45 year old can get a 10 year term policy for about $200 per month. Whole life is also an option, but term will be significantly cheaper.
Each one of the issues here by themselves would qualify for a regular policy. Someone 6’1 350 might be able to get approved for a policy, barring no health issues. A Diabetic or someone with sleep apnea can get approved as well, the issue here was multiple conditions combined, which would cause a decline for a regular policy and requires us to look at a high risk life insurance policy, or graded benefit policy.
If you’ve been declined for life insurance, don’t assume that you can’t get insurance coverage. There are still several options for life insurance. Nothing should keep you from having the coverage that your family needs.
One option is to purchase a guaranteed acceptance life insurance policy. As you can guess from the name, nobody is turned down for these plans. Regardless of health, complications, or weight. All that you have to do is answer a few basic questions, like age and gender, and then you can get approved for life. While this might sound like the perfect solution to your life insurance problem, there are a few caveats that you should be aware of when you’re shopping around for insurance coverage.
The first is that these plans are going to be more expensive per a coverage dollar compared to a traditional policy. Without the health questions or medical exam, the insurance company is taking a much higher risk to hand out coverage. They are going to offset that by charging drastically higher premiums.
Another problem with these plans is the limit on how much coverage that you can buy. Guaranteed acceptance plans only allow you to buy around $25,000 (depending on the company). For most households, that won’t be nearly enough life insurance. Not having enough coverage is one of the worst mistakes that you can make for your family. Before you purchase one of these plans, take the time to calculate how much life insurance your family would need if something tragic were to happen to you. If you need help doing this, one of our agents would be happy to walk you through the process.
On the other side of the coin, there are a few benefits to choosing one of these plans. The obvious one is that there is no chance of getting rejected for coverage. You can be approved for these policies regardless.
Another advantage is how quickly you can get approved. Because there is no medical exam or health questions involved, this is the fastest way to get life insurance. With a traditional plan, you could find yourself waiting several weeks, or close to two months. Guaranteed acceptance plans will get your life insurance in a matter of minutes. With most companies, it will take you less than an hour to get your life insurance.
If you would like a quote for coverage fill out our quote form below and we can discuss your specific situation. I know that shopping for life insurance can be difficult, but that’s why we are here to help. It’s our mission to help you find the perfect life insurance plan to meet your needs.
If you have any questions about getting approved for life insurance as an applicant that is overweight or has diabetes, please contact us today.
Life insurance is one of the most important purchases that you’ll ever make for your loved ones. It’s one of the best ways to ensure that your family has the coverage and money that they need, even if something awful were to happen to you.
When you apply for life insurance, the company is going to look at dozens of factors to determine if they will accept you for protection. One of those factors is your health and any pre-existing health conditions that you may have.
Every year, there are over a half a million people that have a heart stent surgery. Those people might have been declined for life insurance or have been given insurance quotes that are through the roof. If you’re one of them, don’t assume that you can’t be approved for an affordable policy. There are a couple of different things that you can do to improve your chances of getting life insurance at reasonable rates. (more…)
Most people know that yes, having a stroke does affect your ability to get life insurance. However, many people mistakenly think that this means a stroke victim can’t get life insurance at all. Although it is true that a stroke is a very serious health event, many people who have had them still manage to get insured.
Life insurance is a fundamental investment that everyone should consider making for their family. It’s one of the best ways that you can ensure that your family will have the money that they need, regardless of what happens to you.
When you apply for life insurance protection, the insurance company is going to review dozens of different factors to calculate how much they are going to charge you in monthly rates. One of the most important factors that they are going to review is your health and any pre-existing conditions that you have. If you have a severe health problem, like a stroke, then you’re going to be considered a high-risk application. (more…)
If you are looking for high risk life insurance I’ll cover what some of your options are in this article.
At ChooseTerm.com we are high risk brokers and experts, so if you would like a customized insurance quote based on your specific health situation, simple fill out the quote form below this paragraph and we will contact you. Otherwise keep reading for more information.
Many people that might be considered high risk can get approved for the same life insurance policies that anyone else can get. The difference is that if you do have a pre-existing health condition you will likely pay more for a life insurance policy than someone who is healthy and does not have a history of a medical condition.
The first step in understanding high risk life insurance is an understanding of life insurance health ratings. Insurance companies have health ratings like Preferred Best, Preferred, Standard Plus, and Standard. Most people will fall into one of these categories based on their blood pressure reading, cholesterol, height/weight, family history, etc.
If you have ever gotten a life insurance quote online, you probably have seen the health ratings options I just mentioned, however there are also substandard ratings that life insurance companies offer, also called Table Ratings. These are usually numbered from one to ten, or lettered from A-J and are reserved for people that wouldn’t fall into rates at Standard or better, but also wouldn’t get declined for coverage. Anything below a standard rating – or substandard is considered high risk. Those individuals that wouldn’t get approved even at the substandard rates are also considered high risk, and there are other types of life insurance they may qualify for such as Simplified Issue Graded Benefit or Guaranteed Issue life insurance, which we’ll discuss in more detail.
Most people are familiar with the typical life insurance health ratings you could qualify for in a life insurance policy, such as Preferred or Standard pricing. However if you have a pre-existing health condition and considered a greater risk, you will most likely get a Sub-Standard Rating. Below the regular “Standard” rating, Life Insurance companies have substandard ratings called Table ratings, usually in the form of Letters or Numbers. For example if you are high risk, you may get approved for life insurance at anywhere between a Table A-J health rating, otherwise known as a Table 1-10 health rating. The lower the number, the cheaper the price of the policy.
At ChooseTerm.com we have had success helping people with various pre-existing health conditions get approved for life insurance.
For example, we have helped diabetics, people with multiple sclerosis, people with a history of cardiovascular disease or heart attack, heart murmurs, epilepsy, stroke, sleep apnea, asthma, history of cancer – including breast cancer and prostate cancer,liver enzyme elevations, and a host of other issues get approved for life insurance.
There are many health conditions that can lead to substandard life insurance rates. For example both Type 1 and type 2 diabetics would get a table rating on a policy. Other conditions that can lead to substandard rates are Multiple Sclerosis, Crohn’s Disease, history of cancer or stroke, Hepatitis C, and Elevation in liver function test. In all these cases it is possible to get approved for a regular life insurance policy – just at a substandard rate, which basically means a higher premium amount.
In cases of more severe health conditions – for example aggressive MS, or a stroke within the past 12 months, uncontrolled diabetes, etc. one would probably be declined for a regular life insurance policy and would need to look for graded benefit life insurance.
Graded benefit life insurance is a type of life insurance policy for people with high risk and typically during the first two or three years the death benefit is equal to all premiums paid, plus interest. After the initial waiting period is over the full amount of coverage is in effect. Coverage available ranges from $5,000 to $150,000 depending on the age and insurance company.
If you have been declined for life insurance, it doesn’t mean that you can’t get coverage. It is very possible that you didn’t apply for coverage with the right life insurance company. Different life insurance companies have a different appetite for the kind of risk they want to take, and while one company may decline you, another might approve you. At ChooseTerm.com we specialize in high risk and work with over 30 life insurance companies. Based on your specific condition and situation we will match you up with the right life insurance company, giving you the best chance to getting approved for life insurance. If you do get declined there might be other options as well with guaranteed acceptance or graded benefit life insurance – which we can help you with as well.
We typically recommend term life insurance for high risk since it helps keep the costs lower for life insurance. We work with over 30 life insurance companies for high risk, such as Prudential, American General, Banner Life, Fidelity Life, Transamerica, Metlife and others.
Anyone who has a serious health condition or who enjoys high-risk hobbies that have led to an impaired-risk classification can seek help from an impaired-risk specialist. These are insurance brokers who have extensive experience in locating the best policies for certain situations. An impaired risk specialist can point out the various ways an individual applicant is a better risk for a particular company. Whereas insurance companies tend to focus on the big picture, an impaired-risk specialist can narrow the focus down to the specific applicant. For example, heart attack survivors may, as a group, be a greater risk for the insurance company, but a specific heart attack survivor who has taken healthy steps to prevent future heart attacks and who is receiving high-quality medical care will likely be a lower risk to the insurance company.
Armed with medical records and other pertinent information about the applicant, access to the right insurance companies and extensive experience in the field, the impaired-risk specialist can then act as the applicant’s advocate and work to locate the best-priced policy, regardless of the applicant’s health history.
If you are looking for the best rates fill out our quote form below and let us know your specific situation. We will contact you and provide you with a customized life insurance quote.
Millions of Americans have Type 2 Diabetes, and even more are unaware that they have the condition. Life insurance for type 2 diabetics does not have to be unattainable – you can get competitive and affordable rates for coverage. In this article I’ll cover some questions we will ask you to provide you with an accurate quote, as well as some examples of pricing for life insurance for type 2 diabetics and life insurance companies we like for type 2 diabetics. If you would like to get a quote specifically for you, just fill out the quote request form right below this paragraph, otherwise keep reading.
This article is going to explore the different factors that you should be aware of when you’re shopping for life insurance as an applicant with type 2 diabetes. If you assume that you can’t obtain an affordable insurance plan because of your health, you couldn’t be further from the truth. There are several ways that you can qualify for a cheap life insurance policy and give your family the protection that they need. Perhaps you're looking for insurance from specific companies such as Allstate insurance prices. Or maybe you want to review other company reviews such as our AAA life insurance company review. If so, we can help. (more…)
When you’re looking to get life insurance coverage, the insurance company is going to look at dozens of different factors when deciding if they should accept your application and how much they are going to charge you for the life insurance protection. One of the biggest factors that the insurance company is going to look at is if you have any pre-existing conditions, like diabetes. If you’re an applicant with type 1 diabetes, then you may assume that you can’t get life insurance, you may have even been declined in the past. Regardless of your health or diabetes diagnosis, there are several life insurance options that you can choose from.
Over 25 million children and adults in the U.S have diabetes, and about 2 million new cases of diabetes are diagnosed each year. If you are looking to get approved for life insurance with type 1 diabetes, this blog post will cover what you need to know. I’ll cover what factors life insurance companies consider in deciding whether or not to approve and how they price life insurance with type 1 diabetes. I’ll also cover some companies that we have had success with as far as getting type 1 diabetics approved. You can request a quote using the form right below this paragraph or keep reading for more on life insurance with type 1 diabetes. (more…)
This is Liran Hirschkorn from ChooseTerm.com and in this video I'm going to
talk to you about Life Insurance when you have Hepatitis B and what your
options are, coming up in tis video.
So, if you have Hepatitis B you can get approved for Life Insurance but
it's going to be determined based upon several factors. One, if your liver
enzymes are normal as far as the levels or maybe just slightly high but not
very, very high, then you have a chance to be approved for life insurance
depending on how long you've had it, what the current treatment is, it is
possible to get approved. The key is really knowing which Life Insurance
companies to apply with. There are some companies that are very
conservative and will generally not approve somebody with Hepatitis,
whether it's Hepatitis B or C and there are other companies that are a
little bit more liberal in their guidelines and will approve life insurance
for people who have Hepatitis B.
So the key is really knowing which life insurance company to apply with.
And that's where working with an agent who is specializing in high risk
life insurance really pays off because instead of going to one company and
getting declined and maybe you've been in that position and then going to
another company and kind of being upset about the whole process working
with an agent who has experience with Hepatitis B and life insurance is
really the way to go in terms of having the best chance to get approved for
The other thing you want to do is submitting a letter with your
application. As an agent this is what I do for my clients explaining their
lifestyle or their overall health, anything that's positive that can help
get that application approved, we write a letter to the life insurance
company to have them look at that and that gives you a better chance to get
approved. So anything that's helpful, if you exercise or your overall
lifestyle is going to be helpful in getting you approved for coverage.
The one thing to know is that you're generally not going to get approved
that standard rates. If you do have Hepatitis, you're generally going to
get what's called the table rating which is essentially a higher rate for
coverage so you'll have a policy just like everybody else but the rate is
going to be higher and you're generally going to see table ratings anywhere
between table 4 or also called table d, maybe up to a table 6, also known
as a table f, so just to know what to expect in terms of pricing. And
although this sounds confusing, I can go over these numbers with you when
we discuss a quote and give you an idea of what type of pricing you can
probably expect based specifically on your situation.
So if you do have Hepatitis B and you are looking for life insurance, you
can click the link below if you are on YouTube to go to our site
ChooseTerm.com and I look forward to speaking with you.
My name is Liran Hirschkorn and thank you for watching.
Can you get life insurance after a heart attack? In this video I discuss what it takes to get approved following a heart attack (Myocardial infarction) and what insurance companies look for when evaluating your application.
If you've had a heart attack and you're looking for a life insurance policy, I'm going to talk to you about specific guidelines for: Can you get approved for life insurance after a heart attack, and what are the guidelines on pricing? Coming up in this video.
So if you've had a heart attack, can you get approved for a life insurance policy? Well, let's talk about a couple situations here. Recently I had a 38-year-old who had a heart attack 6 months prior to approaching me. They had 99% blockage. They were a smoker. They had a stent put in as a result after the heart attack, and now they're looking for life insurance. The question is: Can they get approved for coverage?
So here are some of the guidelines. One, the younger you are when you have a heart attack, the worse it is, because somebody who's 55, 60, 65, 70, it might be more common for them to have a heart attack as opposed to somebody who's 30 or 35. When you're 30 or 35 and you suffer with a heart attack, the insurance companies are going to be a little bit more cautious.
So can you get approved for coverage? Well, the answer is yes. Typically, six months after, you should be eligible to apply and can possibly get approved. Really it's going to depend on factors, if, for example, you've been going to your doctor and having follow-ups done, if you've had normal stress tests, EKGs, echocardiograms, if you've been following your doctor's advice. Have you made any lifestyle changes? For example, this 38-year-old was a smoker. They quit smoking since their heart attack. That's a positive sign that they are making lifestyle changes that will improve their health going forward.
So in the case of the 38-year-old, we're applying for coverage, and we're looking to get a table of 6 to 8 table rating. What does that mean? It's a rating that's below standard pricing for life insurance. Below standard rates means it's going to be a higher rate. Table ratings start from one and go up. So a six, seven, eight, that's going to be a higher price for coverage.
Now given that they're young, the life insurance will still be affordable because they're so young, but a table rating of six, seven, eight, that's a higher pricing for life insurance. For that same person if they were 55 or 60, maybe they would see a table 2 rating or a table 4 rating 6 months after the heart attack. Twelve months, a year, two years after the heart attack, they may actually be able to get standard pricing if they've been following the doctor's orders, if they've been seeing the doctor regularly, and have had normal results on their lab tests and echocardiograms, etc., and they've made some positive lifestyle changes.
So the bottom line is you can get approved for life insurance after a heart attack, but you need to consider the factors or talk to us about what was the cause of the heart attack, what has the treatment been, have you been to the doctor, have the results been normal on the follow-up testing, have you made any lifestyle changes. These are going to be the factors that will allow you to get approved for a policy, and the longer you are removed from the heart attack, the better it's going to be in terms of the pricing that you're likely to get.
If you're on our website, you can fill out the form below if you're in that situation and you want to speak to us. And if you're watching this on YouTube, just click the link below. You can go to our website. You can call us or contact us through the site, and we can help you get approved for life insurance following a heart attack or other type of high risk factors you might have.
Thank you, and I look forward to speaking with you.
It is a known fact that people with a history of illness like heart disease have a more difficult time getting approved for life insurance than others. But the key word here is “difficult”, not “impossible”. If you know what to expect when you apply for term life insurance when you have had a heart attack, you greatly increase your chances of getting good coverage.
What Do Insurance Providers Need to Know?
The key to dealing with insurance companies is being as open and honest with them as possible. Do not withhold information from them, as they will probably require a medical exam anyway in which everything will come out. You should be prepared to answer the following questions:
1. When were you diagnosed?
2. Do you have any underlying issues that caused the heart attack?
3. How often do you visit your doctor?
4. What treatments were recommended to you?
5. What treatments have you had? (Including surgery and medications)
6. Has your condition improved since first diagnosis?
What If I Have Had Multiple Heart Attacks?
If you have a more serious form of heart disease and/or have had multiple heart attacks, it is still possible for you to get approved for coverage. You just have to be aware of what your options are. You may not end up with the amount of coverage that you want, but some companies do offer standard or regular term (in some cases substandard) life insurance policies for people with this kind of health history. If traditional coverage is not available, a high risk life insurance policy - or graded benefit term may be necessary.
What Kind of Rates Can I Expect?
Every person’s case will be different, so it is impossible to say here exactly what rates you will be offered (but you can start getting quotes now using the form on this website!). However, for an idea of what you can expect, let’s look at an example based on a real life situation.
Let’s say Kyle is a 43-year-old man who has had two minor heart attacks in his lifetime, though not in the past several years. He is also a non-smoker, which puts him in a better light with insurance companies, and his most recent medical tests show that his condition has improved. Due to this he will be able to get a life insurance policy, though because he has had multiple heart attacks he may only be offered regular rates or substandard rates rather than regular plus or preferred. For a $150,000 policy with a 20-year term, Kyle will likely be offered rates between $35 and $70 per month. On the other hand, if Kyle decides to apply for a $100,000 policy for only a 15-year term, the rates he is offered will likely decrease by $10 to $30.
If you have had a heart attack or have been diagnosed with heart disease and are interested in getting a quote or applying for term life insurance, please fill out the form on this page.