Life Insurance Rates and Health Conditions Apr 9th

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Life Insurance Rates and Health Conditions


Life Insurance Rates and Health Conditions
Most life insurance plans are medically underwritten, which means that the insurance company has an underwriter look at your medical history (as well as conducting an interview with a medical practitioner) to evaluate your overall health condition. This evaluation determines what health class an application falls under, which determines monthly premiums of a plan. In some cases an applicant will be deemed too risky and coverage will be declined (at this point a guaranteed issue life insurance plan is the applicant’s only option).
But what health conditions do life insurance companies specifically look at? More importantly, how do these conditions affect life insurance rates?
Please note that all life insurance applicants are assigned a health classification, ranging from Regular to Preferred Plus. Plans for a Regular health classification have higher premiums compared to those with a Preferred Plus health rating.
The following are multiple health conditions that life insurance companies specifically look at, as well as their effect on life insurance premiums…

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