Kip Tips
5 Medical Conditions That Raise Life Insurance Rates Most
You might be surprised to discover that cancer doesn't rank number one.
By Cameron Huddleston, Contributing Editor, Kiplinger.com
May 5, 2010
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When it comes to setting life-insurance rates, insurers want to know how healthy you are to determine how much of a risk you'll be to insure. Having a health problem doesn't necessarily mean your rate will be outrageous, but you likely will pay higher premiums than your healthy peers. How much more you'll pay depends on your condition.
Insure.com has put together a list of the top five most expensive medical conditions when you're buying life insurance. If you have one of these conditions, see Get the Best Rates on Life Insurance for tips so you won't pay more than you have to.
1. Heart disease. This condition will affect life-insurance rates most. Even having a family history of heart disease can force you to pay a higher premium.
2. Diabetes. People with Type I diabetes that developed during childhood will have higher rates -- and sometimes trouble finding a company that will insure them. People with adult-onset diabetes who can manage their condition through medication or diet have lower rates.
3. Cancer. The type you have, the severity and treatment received affect your premiums. For example, an external sun-related lesion may have little or no impact on your rate. See Getting Life Insurance After Cancer for more information.
4. Obesity. Because obesity and several other health conditions go hand in hand, insurers take your weight into consideration. However, weight ranges to qualify for the best rates vary from company to company.
5. Pulmonary disease. Expect to pay a higher premium for life insurance if you have had life-long asthma (not seasonal asthma).
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Reader Comments (2)
Posted by: Gary at 05/08/2010 03:27:33 PM
Since the other 4 will all lead to heart problems, Obesity should be the #1 focus. Get people to stop eating wrong, drinking, etc and all of the other 4 will decrease. The comment of foreign countries is that America is a nation made up of fat people. Often this is due to some of the imigrents that are invading our country, eating off of it, getting health care for free, and then raising the rates for cigtizens trying hard to eat right. So--focus on obesity and the others will decrease.
Posted by: Marianna at 08/02/2010 12:28:28 PM
Gary, just a quick response to your comment... Here we are, blaming others for our problems.... I am an immigrant from Europe who came here over twenty years ago... I have contributed more to this country than you probably ever will.... If anything the blame is on the goverment for not securing the borders and allowing all kinds of thugs to come in because they need the cheap labor and no politician wants to touch the subject... How much do you think you would pay for fruits and vegetables if there were no illegal immigrants picking it? A whole lote more, I can reassure you...The reason for obesity is not because people can't afford to eat healthy, but because they are uneducated, ignorant and lazy (just a few others to list of what Europeans think of Americans). What we need is secure our border, pay enough wages for workers to be able to afford paying higher prices so we won't need the cheap labor...