How Prescription History Affects Life Insurance Rates

There’s no denying that your medical history and current state of health play an important role in determining your life insurance premiums. If you’re applying for a life insurance policy, you may be wondering how your medical records—including prescriptions—will affect your rates. Overall, insurance carriers will take prescription history into consideration when reviewing your life insurance application, but this is just one element of the bigger picture of your medical history. When looking at your prescription history, the life insurance carrier will typically ask follow-up questions to understand the context of why you’re taking a certain medication, so they can evaluate your risk and use it to determine your rates. In this article, we’ll help you understand how past and current prescriptions can affect your life insurance coverage.

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Why Life Insurance Companies Look at Your Prescriptions

Your health status matters to life insurance companies, as it helps paint an overall picture of whether or not you’ll be riskier to insure. Life insurance companies will check prescription records as part of the life insurance application process. As they review your medical history, they’ll typically ask which medications you take or have taken in the past and what conditions they were for. If you’re concerned about your current or previous prescriptions affecting your life insurance eligibility or rates, you can consider guaranteed issue insurance, which is a type of final expense insurance that doesn’t take prescription history into account.

Medications That Might Affect Life Insurance Rates

If you’re currently taking different medications and are wondering about whether they may affect your life insurance premium, keep in mind that not all prescriptions will cause you to have higher rates. For example, a single course of antibiotics taken for a minor illness is highly unlikely to increase your premiums. However, there are certain medications that are more likely to affect your life insurance rates.

Condition	Common Medications
Heart Disease	Warfarin, Aspirin, Benazepril
High Blood Pressure	Lisinopril, Amlodipine, or Metoprotol
High Cholesterol	Atorvastatin or Simvastatin
Asthma	Albuterol or Salmeterol
Diabetes	Metformin
Hypothyroidism	Levothyroxine

Medications used to treat the above conditions can affect your rates because the carrier may see you as a higher risk. Therefore, they’ll consider you riskier to cover and will assign your rates accordingly. Talking to an experienced agent can help you understand how different prescriptions may affect your life insurance rates.

Can you be denied coverage based on prescription history?

You may be wondering if your prescription history can affect your eligibility for life insurance coverage. Life insurance companies won’t usually deny you coverage based on your prescription history, but you may be given higher rates. Giving the insurance carrier additional context about why you were being treated for certain conditions, and if you have improved from those conditions, can help you get more competitive coverage rates. For example, if you previously took medicine for high blood pressure but have since lowered your blood pressure and no longer need the medication to manage it, the carrier will see you as less of a risk to insure.

Ways to Improve Your Life Insurance Application

Making small improvements to your life insurance application can increase your chances of getting approved and may help you secure better rates. Here are several ways to improve your life insurance application.

Maintain a Healthy Lifestyle: Healthy habits like exercising regularly and eating a balanced diet can help underwriters view you more favorably.
Quit Smoking: People who smoke pay significantly higher rates than non-smokers, so quitting can go a long way toward lowering your premiums.
Keep Health Conditions Well Managed: If you have conditions like diabetes, hypertension, or high cholesterol, ensure that they are well-managed with the help of your doctor. Insurers will look at your current health management when assigning your rates.
Minimize Risky Activities: Avoid dangerous activities, such as extreme sports or high-risk hobbies like skydiving or rock climbing, as these can increase your premiums. If you engage in risky hobbies, be sure to disclose this information honestly to avoid issues later.

Have questions about your prescription history and life insurance rates? Let SelectQuote help.

It can be difficult to navigate your medication history’s impact on the life insurance application process, but SelectQuote can help. Our experienced licensed insurance agents are here to answer any questions you have about prescriptions and life insurance coverage. We’ll take the time to learn about your unique needs to quickly and easily search for policies from trusted life insurance carriers. With an average tenure of over 10 years, our agents have the knowledge and experience needed to quickly match you with an affordable policy that’s right for your needs—even with a health condition that requires medication.

Will taking medication immediately disqualify me from getting life insurance?

Taking medication will not automatically disqualify you from getting life insurance. However, the type of medication, its purpose, and your health condition will be considered by the insurer. If your medication is for a well-managed chronic condition, it might not impact your ability to get coverage. However, some medications might indicate more serious health issues that could affect your eligibility or premiums.

Will a past prescription affect my life insurance rates?

A past prescription could impact your life insurance rates, depending on the medication and the condition it treated. Insurers may ask about your medical history, including past prescriptions, to assess your risk. If the medication was for a condition that is no longer an issue, it may not significantly affect your rates. However, if it relates to a serious or ongoing condition, it could result in higher premiums

How do mental health medications impact life insurance?

Mental health medications, such as those prescribed for depression, anxiety, or other mental health conditions, can influence life insurance applications. Insurers will consider the nature of your condition, how well it’s managed, and whether you’re in treatment. Well-controlled mental health conditions might have little impact on your premiums, but more severe or untreated conditions could lead to higher rates or exclusion from certain policies.

What if I don’t disclose my prescriptions on my application?

Failing to disclose your prescriptions on a life insurance application can be considered fraud or misrepresentation. If an insurer finds out that you didn’t provide accurate information, they may deny your claim or cancel your policy. It's important to be honest about your medications to ensure that your policy remains valid and that you’re fully covered.

Are there life insurance options if I have a complex medical history?

Yes, there are life insurance options available even if you have a complex medical history. Some insurers specialize in offering coverage to individuals with high-risk medical conditions. You may also consider guaranteed issue life insurance, which doesn't require a medical exam. It’s a good idea to shop around and work with an insurance broker who can help you find a policy that suits your needs.