You may be the most physically fit person you know–never smoked, never had a surgery, and may recently have achieved top-notch marks on a health exam. Yet, somehow, you are missing out on a preferred plus rate from your life insurance provider. How can this be? The truth is even if you are a perfect specimen of good health, young in age as you are at heart, and espouse a healthy lifestyle, you may be charged higher rates for life insurance based on your family history (i.e. your parents and siblings’ health).
Family History Influences Life Insurance Rates
Many applicants find themselves taken slightly aback when faced with health-related questions about their parents and siblings. Most insurance providers simply want to know if either of your parents or any of your siblings have died from or were diagnosed with cancer or heart disease before the age of sixty or sixty-five in some cases. Other health conditions may also play a role in this assessment, but primarily they are looking for instances of cancer or heart disease. If a parent was diagnosed with either of these conditions before age sixty or died due to either of these conditions, you are very likely to pay an increased rate–even if you are in good health. However, these higher rates are not always carved into stone.
Getting Rates Based on Your Health–Not Your Family’s
In all fairness, most reputable insurers will tell you that certain conditions experienced by family members will affect your rates. However,not every insurer, for instance will examine cancer instances, for example; some insurance providers are primarily concerned with cardiovascular disease. The key, of course, is to find a provider that will only look at cardiovascular health if you’ve had a parent that succumbed to cancer before the age of sixty.
Although many life insurance providers will deny you a preferred plus rate if either parent has died due to a health condition, Banner and ING are two insurers that look primarily at family history in terms of cardiovascular health. Therefore, if either parent has died before the age of sixty because of diabetes or cancer, these two companies are more likely to offer you better rates if you personally qualify than many other life insurance providers.
Prudential is also a recommended company to talk to about life insurance as it, too, may offer preferred rates to a qualified applicant even if one parent has died due to a health condition. While, again, the norm among insurers appears to be standard rates–not preferred–for applicants with parents or siblings that died before age sixty, there are a handful of insurance carriers that will extend those better rates that are well worth taking the time to seek out.
Finding a Life Insurance Carrier with Optimum Rates
The quickest and soundest way to locate the best rates based on your health and family history is to talk to an independent agent (Like BestLifeQuote.com) with access to multiple companies. We can steer you to the companies that are known to extend preferred rates even in light of family medical issues. It is our business to know which companies look at cancer incidence when screening applicants’ family histories and, of course, which ones do not. It is also our business to know which carriers can provide the best rates to someone with an extensive family history of medical issues like cardiovascular disease.
In short, when you work with an independent agency such as ours, you have access to a wider selection of rates. While you could talk to each insurer yourself, you could save yourself the time and headache of comparing rates simply by discussing your situation once with your independent agent who can steer you to the insurers that can best fulfill your needs and, most importantly, offer you the best rates in the context of your health and the health history of your family.
It may be hard for some to reconcile this seeming intrusion into the health of your family; after all, it’s one thing for you to relent and give up some of your health privacy in order to obtain a policy, but why should you also have to provide details about your family? For the insurance providers, it’s all a matter of risk assessment. If you come from a family that has a history of heart disease, there is a reasonable likelihood that you’ve inherited this health risk–which is a risk they must be willing to take on in order to insure you.
Moreover, if you are in good health yourself, you may still qualify for excellent rates by working with us. On the other hand, you may have to pay that higher premium rate based on some family medical history, but at least you may obtain the policy you need. Talk to us about your specific scenario; chances are you will be matched with a company that is ideal for you–and your family history. You can call us at 888-552-6159 or compare quotes using the quote tool right on this page.