Your health is the primary factor insurers use to determine your life insurance premium. From chronic conditions to family history, every aspect of your health profile is evaluated during underwriting.
Understanding how health factors are assessed can help you prepare for the application process and potentially secure better rates.
The Underwriting Health Classes
Insurance companies categorize applicants into health classes that directly impact pricing. Preferred Plus is the best class, reserved for people in excellent health with no family history of serious illness. Standard class is for people with average health, while Substandard (or Table Rated) applies to those with significant health issues.
The difference between classes can mean hundreds of dollars per year in premium costs.
Common Health Conditions and Their Impact
Controlled high blood pressure with medication may only move you one class down, while uncontrolled hypertension could result in a decline. Type 2 diabetes that’s well-managed may still qualify for Standard rates, but complications can push you to higher rate classes.
Heart disease history, cancer, and mental health conditions are evaluated based on severity, treatment, and time since diagnosis.
Improving Your Health Class
If you’re not in a rush to buy coverage, improving your health can lead to better rates. Losing weight, quitting smoking (most insurers require 12 months tobacco-free), lowering cholesterol, and managing blood pressure can all improve your underwriting class.
Some insurers offer reconsideration after health improvements, allowing you to lower your premium without applying for a new policy.