There are over 700 life insurance in the United States and each one has their own rate sheet and underwriting guidelines. Factors such as your age, coverage amount and length of the policy all affect the premiums. More specifically, your height/weight, blood pressure readings, cholesterol readings, family history, driving records, health conditions current and prior, foreign travel and even avocations such as scuba diving will determine which life insurance will offer the best rate. Even a single pound on the weight chart or one point over on your blood pressure readings can affect your rate significantly if you choose the wrong carrier.
The good news is I have been doing this for over 11 years and placed over 4k policies inforce and have a unique knowledge of the underwriting guidelines as well as have access to software to filter the best carrier for specific underwriting profile. Additionally, and I believe is the one of the most important tools I utilize for life insurance underwriting is called a “Quick Quote” and I probably use it more than anyone else in the country. This enables me to gather relevant information about the health of the potential applicant such as; age, height/weight, medications, occupation, health conditions, and any other relevant information and email the underwrites directly and anonymously to see what rate the life insurance company would potentially offer. I can ‘paint the picture’ for the underwriters for your health profile in the best light to help you get the best rate. This is an extra step that most agents don’t do, either because it is more work for the agent and “isn’t a one call close” or they don’t know how to properly do a Quick Quote, but I believe it is imperative if you want to act as a fiduciary. Using Quick Quotes effectively has enabled me to get hundreds if not over a thousand of people approved that were declined with another company or found them best rate in the country for their specific health or lifestyle situation.
Let’s take a look at some of the most common health and lifestyle factors that affect life insurance underwriting.
ADHD/ADD
Alcohol abuse
Anemia
Aneurysm
Angina
Angioplasty
Anxiety
Apnea/sleep apnea
Aortic valve
Arrhythmia
Arteriosclerosis
Asthma
Atrial fibrillation (Afib)
Artificial Valve
Aviation
Bankruptcy (Multiple Bankruptcy)
Barrett’s esophagus
Bell’s Palsy
Bicuspid Aortic Valve
Bigeminy
Blood pressure (Hypertension)
BMI
Bypass surgery
Build (Height/Weight)
Bundle Branch Blocks (BBB) Left/Right
Cancer (Colon, Basal Cell Carcinoma, Breast, Leukemia, Lung, Malignant melanoma, Pancreatic, Prostate, Squamous Cell Carcinoma, Thyroid)
Cannabis
Calcium Score
CBD Oil
Chew/dip
Climbing and mountaineering
Colon polyps
DUI (Multiple Dui)
Cholesterol
Cigars
Depression
Driving
Drug Treatment
Family History
Military
Motor vehicle racing
Chronic obstructive pulmonary disease (COPD)
Coronary artery disease
Crohn’s disease
Diabetes (Type I, Type II, Gestational Diabetes)
E-cigarette
Emphysema
Epilepsy/seizure disorder
Gastric surgery for obesity
Gout
Grave’s Disease
Hashimoto’s Disease
Heart attack
Heart murmur
Hepatitis B
Hepatitis C
Kidney function test
Liver Disorder
Liver function test
Lymph Node Disorder
Marijuana
Multiple Sclerosis (MS)
Myocardial infarction
Neuropathy
NT-proBNP
Obesity
Osteoarthritis
Pacemaker
Pain Medications (Opioids)
Pancreatitis
Parkinson’s disease
Peripheral artery disease (PAD)/peripheral vascular disease (PVD)
PSA Elevated
Pulmonary nodule
Rheumatoid arthritis
Scuba diving
Sky diving
Stent (Multiple stents)
Stroke
Tachycardia
Transient ischemic attack (TIA)
Transplant (Kidney, organ)
Travel Foreign
Tobacco
Ulcerative colitis
Underweight
Vaping
Visa (H1b and all others)
Wolff-Parkinson-White
Case Study 1: A 58 year old male, diagnosed with type II diabetes 4 years ago, taking metformin, and a blood pressure and cholesterol medication. He he had mild peripheral neuropathy from diabetes but doesn’t affect mobility, works full time no other issues. PI was approved at standard plus. Other top carriers offered table rates for much higher premium.
Cast Study 2: A 45 year old female, takes 2 medications for anxiety/depression. Works full-time, never missed time from work was approved at the Preferred health class, most other life insurance companies offered a standard health class which was a large difference in monthly premiums.
Case Study 3: A 62 year old male, had prostate cancer over one year ago at age 61. Had a radical prostatectomy. Last PSA reading was negligible. He was approved at standard plus health class. Many other top insurance companies were a decline/postpone until more time passed or were table rated and very expensive.
Case Study 4: A 40 year old male, 6’00 220 lbs was seeking $1million 20 year term policy. He is in good health. Due to his build most companies will offer him a Preferred health class. We found him a Preferred Plus health class with an A+ Superior rated company which saved was $50.87 month compared to the other quotes he received which were $64.88 month with AIG and $71.02 month with John Hancock and $86.73 month with New York Life. That is a substantial monthly savings and long term savings of over $8,600 compare to N.Y. Life for the same policy!
If you have any health concerns, were declined or table rated or have any underwriting questions let us do the work of finding you the best rate in the country. Please don’t hesitate to give us a call at: (888) 676-5429 or fill out the form below.