How much are your life insurance premiums affected by your health condition?

As you should already know, the price for your premiums is dictated by many factors: age, health, environment, bad habits, amount of coverage, policy cost. It is an intricate mechanism and although on the surface they can look simple and easy to understand, life insurances are fully understood only by the ones working in this domain.

wpb3464424We stated before that health is a determinant factor that decides how much you will have to pay. Knowing your health condition will be helpful if you want to search for an approximate value for your premiums. Keep in mind that for many policies, health is the main factor and many companies are mainly interested by your medical status. Their routine contains checking all the medical records you must bring and asking the client for medical examinations. Fail to complete these tasks and you will surely be turned down.

But how much does your health condition influence your premiums, is differing from company and type of policy. One thing is certain, if you are not so healthy, you will pay more. Companies do not want to have to pay the whole policy cost if the client presents an immediate potential of getting sick or to die. In most of the cases, those with medical problems will have to pay for 50s life insurance premiums almost double the regular prices charged for those considered healthy.

The prices vary from 10-20% up to 100%. This is why it is of utmost importance to keep yourself healthy and apply for a life insurance when you feel that you are fit enough to be eligible. But if you are ill, and the sickness is temporary or treatable, you may want to take an expensive insurance that grants you the possibility of renegotiating the costs after a period. So, when you will recover, do not forget to visit your insurer and talk again about premiums.

If you want to know more, our website is able to provide more information and quotes, to help you figure out an approximate price for premiums. Visit our website!

 


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