Health insurance companies will determine your rates depending on your health and its condition.
The reason that many Americans do not have life insurance is because they believe they won’t qualify, or if they do qualify, the premiums will be too expensive. Most people are able to receive affordable health insurance despite having common health issues. Health conditions, while severe, could also be well managed and so the insurance company will definitely take that into consideration. Here are some examples of common health conditions and how life insurance companies may react to them.
High Cholesterol: Over 102 million Americans have been diagnosed with high cholesterol. This is defined as total cholesterol over 200 mg/dL. Life insurance companies may classify you as “regular” with cholesterol as high 300-350 mg/dL. 220 mg/dL or less with medication could place you in the preferred class.
Anxiety: 18 percent of the U.S. population suffers from anxiety, making it the most common form of mental illness which varies widely in intensity. The reason it’s a risk is because this could develop into more severe conditions such as depression, insomnia, and substance abuse.
Obesity: Over 33 percent of Americans suffer from obesity, making it the most common health condition that American insurance companies have to deal with. Most companies use the body mass index (BMI) to determine a person’s class. A BMI of 26-28 can qualify one for preferred plus, while 35-38 will put you in standard.
High Blood Pressure: High blood pressure can lead to serious heart and health issues if it is not treated appropriately. Life insurance companies will determine someone’s rate by the severity of their condition. The standard rate is typically 150/90 or lower. Preferred rate is 140/90 or lower without medication.
Whether you need to buy group health insurance to comply with the law or just want to put together the best benefits package possible, contact Donald Weiss Insurance Services today! Our Santa Monica, California team can shop coverage options and put together the best group health package for your business.
