Life Insurance Underwriting – Don’t Let Family History Increase your Rates

Many people in great overall health are often surprisingly charged more for life insurance because of an immediate family member’s adverse family history.

Many people do not realize that life insurance underwriters consider your immediate family history when pricing the policy you buy.

Getting Life Insurance with Adverse Family History

If you are looking into purchasing life insurance with a family history of cancer or heart disease, do not forget provide this information to your agent.

Most life insurance underwriters look at any family member's who have contracted or died from heart disease or cancer prior to the age of sixty.

Many insurance companies also consider how many family members were affected with the condition and their age when it was diagnosed. 

If only one of your relatives was affected, or if diagnosed was after age 60, it may not have an impact on your life insurance rates.

Furthermore, every insurance company differs in on specific stance on both cancer or heart disease in relation to family history.

For example, some insurance providers are primarily concerned with cardiovascular disease only. So, the best idea is to find an insurer that will only look at cardiovascular health if you have had a relative die of cancer before the age of sixty.

Not to mention, some life insurance companies also only take the parents’ history into consideration and ignore your siblings’ history.

Now, you can clearly see the importance of providing these type of details to your agent.

life insurance rates by age

Here are few questions a qualified agent should ask you:

  • Did any of your immediate family members have cancer and heart disease?
  • What was the age of onset or death of each family member?
  • How many family members with cancer or heart disease?
  • Was it a cancer or heart related disease or death?
  • Was the premature death in siblings or parents?

The answers to these common questions will assist your agent in finding the cheapest rates for you. If you have any other medical issues, it is also prudent to provide your medical history to your agent as well.

As long as you are honest, getting life insurance with medical conditions does not have to be complicated.

During he life insurance application process  your personal medical an family history will be submitted  by your agent on your application.

So, what is the underwriting process for life insurance?

First, your general medical and family history is initially evaluated to determine which insurance companies may be best suited for your particular medical conditions and family history.

Then, we start the application process by having you complete a brief insurance examination which can be utilized with many insurance companies.

We also order a medical summary from your doctor to be used with all of the viable life insurance companies.

Your medical profile is presented to multiple life insurance companies to determine which life insurance carrier would be willing to offer you life insurance at the most competitive rate class.

This allows us makes accurate premium comparisons based on how your family history fits with each insurance company.

Watch our video on Life Insurance and Family history:

Introducing Eric Van Haaften:

Eric Van Haaften

Affordable Life USA is a nationally licensed and independently operated life insurance agency. The agency was started by Eric Van Haaften, over 25 years ago, from our home office located in Grand Rapids, Michigan. Please feel free to email him at: eric@affordablelifeusa.com, or call us at 1-877-249-1358.