The Most Expensive Medical Conditions Affecting Life Insurance Installments

Shopping for Life Insurance can seem like a very daunting task, but with the technological advances and the sheer number of insurance advisors out there it can become quite an easy assignment. One of the components that seem to scare some people from purchasing a policy is their concern with their health. There are companies out there that will cover almost every health issue, but it may result in the client paying a Reasons To Take Supplements higher monthly premium than someone who has better health. This article will shed light on a few of the most expensive medical conditions that can spike up your monthly premiums. With that being said don’t let this article scare you away from considering a policy, because monthly premiums are still at record lows, and it is a lot easier to pay $70 or $80 a month than to have to come with $9,000 or $10,000 at once.
Life Insurance companies uses a system of “credits” and “debits” to help dictate a potential buyers monthly rates. Any health conditions associated with the client will result in a “debit” upon submission of an application, resulting in a more expensive premium. Consumers can balance out their “debits” with attributes that are considered “credits” such as satisfactory health. So a client that would be considered overweight but has good health will have their premiums adjusted accordingly. The “credits” and “debits” point system will vary company to company.
All medical conditions that can potentially reduce your life span will more than likely increase the monthly payments. Thus, this article will cover the conditions that have the most significant impact on your life expectancy which will result in your policy being more expensive.
The most expensive medical condition is heart disease or any problems with the heart. A lot of people think cancer would be at the top of the list but problems with the heart can dramatically decrease ones life expectancy. Heart attacks take a serious toll on a persons’ heart, and statistically has proven to be irreversible in most instances. The human heart is not made to withstand those conditions, so with each attack it takes more effort to keep itself beating, reducing the victims’ life span as a result.
Second on the list is diabetes. Your rates as a diabetic depends upon which type of diabetes you are suffering from. Type 1 diabetes is the condition that is developed as child, and this condition can limit the number of companies that will qualify you to obtain a policy. Type 2 is adult onset which requires the victim to either control their condition through a specified diet, or by taking prescribed oral medication. This type of diabetes does allow the consumer to find a lower monthly premium than one who is required to take insulin.
Next are clients who survive with cancer. This is another condition that causes the monthly premium to conform depending on the type. Insurance companies do look at whether or not the cancer is internal or external. Conditions such as certain skin cancer will almost always have no effect on the monthly installments.
Victims who have had breast cancer will find it difficult to locate a company that will offer an insurance plan. Certain insurers will require the client Dietary Supplement Definition to wait out a predetermined period of time before allowing them to purchase a policy to determine if a regiment was sought out and successful.
There are certain companies that will allow a consumer to receive most of their death benefit while alive if they were subjected to a terminal illness while the policy is in place. For example, if you had a policy that was worth $100,000 dollars, and a doctor told you that you had 2 years left to live, you could be eligible to take out $90,000 in advance. This money could be used to seek alternative treatment in another country, to prepare funeral expenses or take care of debts, etc.
Note: Anyone suffering from level 4 cancer or resides in a nursing home cannot be insured.
Obesity is another condition that causes a lot of medical complication. Being overweight can bring with it; diabetes, hypertension, respiratory problems, etc. Some people out there are considered to be overweight medically but are still fit. An overweight person can get reasonable premiums if they are fit, but this is the insurance companies’ decision. Satisfactory blood pressure, cholesterol levels, and height are things that can balance out obesity issues.
Ailments that fall in the pulmonary disease category are expensive. People who suffer from seasonal asthma don’t have to worry about their rates increasing when purchasing a Life Insurance policy. Contrarily, if you have struggled with asthma since an adolescent, there is a high chance that your monthly premiums will take a hit. Asthma is the gateway to other more serious ailments such as emphysema, chronic bronchitis, etc.
As a consumer you buy Life Insurance with your health and money just pays for the policy. I say this because I know people with plenty of money who want Life Insurance but can’t purchase a policy because of their health issues. Take care of yourself and if you suffer from any of the above just do some thorough research or seek out a professional that you trust.