If you have high cholesterol, you may be intimidated to go through the life insurance application process, but shopping for life insurance with high cholesterol doesn’t have to be as daunting as it may seem. Life insurance companies evaluate high cholesterol a lot differently than your doctor does. Here’s what to know about getting life insurance with high cholesterol.
Can you be denied life insurance for high cholesterol?
While you may not be denied coverage, there’s a chance you’ll have to pay higher rates for life insurance coverage if you have high cholesterol. High cholesterol can be an indicator for heart disease, which also indicates a higher risk of having a heart attack or stroke. This means you’re considered more of a risk to insure.
What is considered high cholesterol when applying for life insurance?
Cholesterol over 200 is considered high or elevated by doctors. However, you can still find preferred best rates with cholesterol of 275 or 300. This is because life insurance companies look at two numbers: your total blood cholesterol level and the ratio of your total cholesterol to the “good” HDL cholesterol.
If the ratio of total cholesterol to HDL cholesterol is higher than 5, you’re considered a higher than average risk for heart disease, but if it’s lower, there’s a chance you can still find affordable life insurance coverage.
Life Insurance Options for those with High Cholesterol
The most common type of insurance is term life insurance, as it’s both simple and affordable. Insurance isn’t a one-plan-fits-all, and there are additional types of life insurance that might be better suited for others. If you have high cholesterol and are worried about the medical exam, you may consider a form of final expense insurance, such as simplified issue or guaranteed issue life insurance.
Term life insurance
Term life insurance is one of the most affordable forms of life insurance. As the name suggests, you have the option to choose your term length and only buy it for as long as you need it. The lengths typically available are 10, 15, 20, 25 and 30 years.
Whole life insurance
Whole life insurance is a form of permanent life insurance that provides coverage for your whole life as long as you keep paying the premiums. In addition to providing a death benefit, though, whole life insurance also includes a savings component also known as the cash value.
Simplified issue life insurance
Simplified issue life insurance is a form of final expense insurance that bases your coverage on a questionnaire about your health and lifestyle rather than a medical exam.
Guaranteed issue life insurance
Guaranteed issue whole life insurance falls under the category of final expense insurance and you can’t be turned down if you’re between the ages of 45-85. There is no health-related questionnaire, only a basic application.
What to Do if You’re Denied Life Insurance
If you’ve been denied life insurance before, it doesn’t mean it’s impossible to find coverage. You can be denied traditional life insurance for a number of reasons, and sometimes the first life insurance company you apply to isn’t always the best fit for you. By working with SelectQuote, we can compare coverage options from many trusted life insurance companies to figure out which might be right for both you and your situation.
How to Lower Your High Cholesterol
There are a few changes you can make in your diet that can reduce your cholesterol and improve your heart health and life insurance rates.
- Reducing saturated fats, which are usually found in red meat and full fat dairy products, can help lower your cholesterol.
- Eliminating trans fats and eating food that are rich in omega-3 fatty acids can also help.
- Adjusting your diet along with getting exercise five times a week are also effective ways to try and lower your cholesterol.
- In addition to diet and exercise, taking medication for high cholesterol can show your insurance company that you’re treating your condition. In this instance, they’re more likely to give you favorable rates.
SelectQuote Can Help Those with High Cholesterol Find Affordable Life Insurance
Insurance companies use various formulas to calculate their rates, so it’s important to shop around. At SelectQuote, we can do the legwork for you, searching some of the most trusted companies on your behalf and comparing rates in just minutes. Get started on your free life insurance quote today.
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