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Health changes, for better or worse, can affect your life insurance policy. Understanding how this works can help you secure a great policy at a great price and avoid future price hikes.
Positive vs. Negative Impacts
When you purchase life insurance, your insurer will ask about your medical history. You will need to list any current health conditions as well as genetic conditions that run in your family. At the same time, your insurer will also take the way you manage your health into account. For instance, if you have diabetes or high blood pressure but regularly see a doctor and follow the doctor’s advice, you will likely qualify for a lower premium than someone with the same conditions who does not receive or follow medical advice and help. If a health condition develops after you’ve purchased a life insurance policy, your coverage and premiums remain the same. However, the insurer may charge more for policy add-ons than you would have been charged if you didn’t have a health condition.
Health changes can also have a positive impact on your life insurance policy. If you were overweight but lost weight over the years, stopped smoking, exercised more and saw a doctor more often, your insurer will take these changes into account. You may be able to qualify for lower life insurance premiums if you renew your policy or buy a new one.
Call T.D. McNeil Insurance Services serving Folsom, CA, for More Information
T.D. McNeil Insurance Services specializes in helping Folsom, CA residents purchase the life insurance that meets their current needs. Call us to find out more about your policy options and how your health affects the premiums for your chosen policy.
