Buying Life Insurance With Pre-Existing Medical Conditions

July 25, 2016 Health News No Comments

Anyone that has a family needs to have life insurance in case an accident or illness befalls him or her and he or she passes away. A policy can help pay the costs of a funeral and protect your family financially. However, qualifying for a life insurance plan can be difficult if you already have a pre-existing health condition like high blood pressure.

Buying Life Insurance With Pre-Existing Medical Conditions

Qualifying for Life Insurance

When you want to purchase a life insurance policy, you will be asked a series of questions about your medical history, including questions about any pre-existing medical conditions. In some cases, you may be given a medical examination to check your health before a policy is issued. Even though some companies may not cover someone with a pre-existing condition, other insurers will, but you will pay much higher rates than someone who is in good health.

Some insurers will not issue policies if applicants have certain medical conditions such as a heart condition, a history of cancer, or conditions such as HIV. These conditions put you more at risk for becoming ill and filing claims, which makes you a poor risk for their company. However, getting approved for life insurance if you have high blood pressure may be easier to do if it is controlled with medication.

High BP with Medication

When asked about your health, it is better to admit to using medication to control high blood pressure as it could help you get accepted for a policy. In most cases, approximately 95%, there are no underlying causes for having high blood pressure and controlling it with medication can help you qualify for a policy at a lower rate. This type of high blood pressure is called essential or primary high blood pressure.

The other 5% of people have secondary high blood pressure that has several underlying causes. Some of these causes include a tumour in the adrenal gland, abnormalities of the kidneys, or a congenital defect of the heart’s aorta.

Although medication may be able to keep your blood pressure under control, the underlying cause will also be considered when you are trying to purchase a life insurance policy. If the condition is serious enough, then it could disqualify you from being approved for a policy.

Cost of Policies

The cost of an insurance policy when you have high blood pressure will depend on the amount of coverage that you buy and how well your blood pressure is controlled. To get the lowest rates, or what some companies called “Preferred Plus,” your blood pressure reading should be 140/85 with or without medication. The higher your blood pressure reading is, the more you will pay for a policy.

There are additional factors that affect the cost of a policy, including your age and whether you smoke. Smokers will always pay more for life insurance as they are likely to develop one of several diseases, including high blood pressure. If you are in the market for a life insurance policy, don’t assume that you won’t be approved with a pre-existing condition like high blood pressure.

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