High cholesterol is a condition that affects many adults. If you have been diagnosed with high cholesterol, you may be concerned about how it can affect the process of purchasing life insurance. However, shopping for life insurance when you have high cholesterol is not as intimidating as it may seem. In this article, we’ll help you understand how life insurance companies evaluate high cholesterol, giving you the knowledge you need to apply for life insurance with confidence.
What is high cholesterol?
Cholesterol is a waxy substance in your blood that your body needs to build healthy cells. However, high levels of cholesterol can increase your risk of heart disease. When your cholesterol is high, fatty deposits can develop in your blood vessels. These deposits grow over time, inhibiting blood flow through your arteries. They can also break off suddenly and cause a heart attack or stroke. There are no symptoms that indicate the presence of high cholesterol; the only way to know if your cholesterol is high is to get regular blood work.
Can you be denied life insurance for high cholesterol?
Insurance companies look at many factors when you apply for a life insurance policy, including your health history and current health conditions. While you may not be denied coverage due to having high cholesterol, you could be subject to higher premiums. This is because high cholesterol is a risk indicator for heart disease, heart attack or stroke. Therefore, insurance companies can see you as more of a risk to insure and may charge you higher rates.
What is considered high cholesterol when applying for life insurance?
Typically, cholesterol over 200 is considered borderline high from a medical perspective. However, insurance companies may still offer preferred best rates for people with cholesterol of 275 or 300. This is because life insurance companies consider 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, the insurance company will consider you as a higher than average risk for heart disease and you will likely have more expensive rates. However, if the ratio is lower than 5, there’s a chance you can still find affordable life insurance coverage.
Life Insurance Options for People 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 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. If you’re between the ages of 45 and 85, you might be able to get coverage of up to $100,000.
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 the trusted life insurance companies we work with 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.
Quitting smoking and reducing your alcohol consumption can both significantly improve your cholesterol levels.
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 People 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 do the legwork for you, searching some of the most trusted companies on your behalf and comparing rates in just minutes. With over 35 years of experience in the industry, we have helped millions of people secure life insurance—including people with high cholesterol. Get started with us and get your free life insurance quote today.
