by antefixus21

Life insurance is essentially financial coverage on human life. Just as your car would have to be in tip-top condition to warrant a good auto insurance rate, you need to be in good health to qualify you for an affordable term life insurance rate.

High blood pressure, diabetes, cancer, heart disease and life style-related conditions such as smoking, obesity and drinking can prevent you from getting a good rate. The only way to bring your rate down is by improving your health.

How term life insurance companies grade you for premiums
After a physical examination, your life insurance company will grade you according to your risk of dying. They have certain pre-determined risk types, and, you will be accordingly bracketed into a premium category such as super preferred, preferred, standard rate, etc. If you are in excellent health, lead a healthy lifestyle and have no history of major ill health in the past, you qualify for the Super preferred category which means your premiums will be very low, because you are probably going to live long. If they find that your health is good, but not good enough to warrant a super-preferred premium, you will be in the preferred category. Most Americans qualify for standard. There are categories lower than the standard category, with very high premiums. Let’s learn more about the common health risks that affect term life insurance rates and what you can do to improve your term life insurance rates.

High-risk health conditions
If you have a high-risk health condition like high blood pressure, heart disease and diabetes you need to be aware that you will never qualify for a preferred life insurance rate. Even if you have a family history of these diseases, you may not qualify for a low life term life insurance rate. However, you can provide supporting medical records and documents to show that you are regular with your checkups or follow the health guidelines that your medical practitioner has advised you.

Pre-existing medical conditions
Blood pressure, high cholesterol levels and other pre-existing medical conditions will disqualify you from obtaining a preferred term life rate. While you can’t change this, you can work on your health and take the required medication so that you don’t slip further down in the life insurance company’s grading system. If you show the insurance company supporting documents such as medical reports showing a drop in your cholesterol levels, or falling blood pressure readings, they are likely to offer better rates.

Smoking, Drinking or Drug Abuse

Smokers are separately bracketed by life insurance companies and are charged smoker’s rates. However if you are a smoker and seriously intend to quit smoking, you need to be ‘smoke-free’ for at least a year to qualify for a non-smoker rate. Smoking cigars, marijuana and tobacco usage will also be considered as smoking by the life insurance company. A urine or saliva test will detect the presence of nicotine, so if you are a smoker, it is best not to lie in you term life insurance application.

A history of drug abuse or heavy drinking will hamper your chances of qualifying for a good term life insurance rate. The life insurance company will need real proof that you are working on quitting the habit, and require you to ‘pass’ their medical exam to prove it. If you are a moderate drinker, make sure that you do not consume alcohol for at least 72 hours prior to your term life insurance medical exam. Even traces of alcohol can disqualify you from a lower life insurance rate.

Obesity
Being even mildly overweight but otherwise healthy can hamper your chances of obtaining a cheaper premium rate. A recent study has predicted that 86 percent of Americans could be overweight by 2030. If this turns out to be true, term life insurance companies will probably have to disqualify everyone from preferential life insurance rates. Obesity is closely linked to other health ailments.

Luckily, in most cases obesity is due to bad eating habits and lack of exercise. Simple lifestyle changes such as improving dietary habits and making it a point to exercise will no doubt help you.

Some points to remember
These days there are a lot of TV commercials advertising ‘no medical’ life insurance policies. While it does sound attractive, know that this type of life insurance may only work for senior citizens or someone in really poor health. If your health problem can be brought down through medication, diet and exercise you will probably get a better deal by getting your life insurance through the more common channels.

There are certain life insurance companies that look more favorably on certain health conditions than others. Buy term life insurance online because an online agency will be able to quickly identify these companies for you. The free term life insurance quotes that they give you are probably from one of these companies.

Never lie about your health in your policy application. If the life insurance company finds out, it could permanently disqualify you from getting life insurance, even from other providers. Just work on your health and on leading a healthy life style. Not only will your term life insurance rates be cheaper, but your family too will be happy to have you around for longer.

Tags: Health, Improve, Improving, Insurance, life, Rate, Term