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Common Health Conditions that Affect Life Insurance Rates

Roughly 133 million Americans – nearly half the population – suffer from at least one chronic condition, such as hypertension, heart disease, or arthritis. That’s a lot of people – so that many people can’t all get denied life insurance, right? The short answer is no, because there are so many different types of life insurance policies, even for people with health conditions, indulging terminal ones. That is one of the great things about life insurance: there’s a policy for every type of person. While this is good news, the one caveat is that policies can often be much more expensive for people with health problems: having health conditions will affect your life insurance rates, specifically the following common health conditions.

High Blood Pressure

High blood pressure is very common: in fact, around one in three Americans suffer from it. Because of this, life insurance companies generally will not dismiss or label people as high risk just for having high blood pressure; however, because it can lead to more serious conditions, like heart disease or stroke, life insurance companies will increase your premiums if you have hypertension. But if you can prove that you are taking the necessary steps to control or lower your pressure, you can save money on your premiums.

High Cholesterol

This is another one of those conditions that seem like no big deal, but having high cholesterol also puts you at a higher risk of developing other conditions such as heart disease and stroke. Because of this, life insurance companies will consider you a higher risk, which means you will pay more in premiums unless you can prove you are managing your high cholesterol with medication or you’re working towards keeping it under control. If you’re doing things like making changes to your diet and losing weight to lower your bad cholesterol levels, you should be able to find affordable premiums from a reputable life insurance company.

Diabetes

If you are diagnosed with adult onset diabetes or type 2 diabetes, you are at a higher risk for developing other serious conditions, like heart disease, renal failure, and even blindness. If you can prove that you are keeping your diabetes under control, your life insurance company will consider you less of a risk and offer you lower premiums.

Obesity

Roughly 36.5% of American adults are considered obese, with that number most likely rising due to the pandemic. Obesity can lead to health problems like heart disease, cancer, stroke, or diabetes, meaning if you are obese, you will be at a higher risk for life insurance companies to cover, and you’ll get charged higher premiums. But if you can get your weight down by making some lifestyle changes, you can save money on life insurance premiums.

Mental Health Conditions

If you suffer from a mental health condition, you can still qualify for life insurance. For example, if you suffer from depression, you can still get an affordable life insurance policy as long as you can provide documentation that your condition is well managed. However, for more severe cases or those that are not well managed, it can be harder to get a policy. This includes people who:

Have dementia or Alzheimer’s
Reside in a hospital or nursing home
Have recently been rehabilitated for drug or alcohol use

Cancer

illustration of a woman sitting in a chair with an IV stand next to her — *Life insurance approval and premiums will depend on what stage the cancer is in.*

Most people think that having cancer means an automatic denial for life insurance, but you can get life insurance even if you have been diagnosed with cancer. There are different stages of this disease, which can determine how much you will pay for premiums: the more advanced the stage, the more expensive your premiums will be. The way life insurance companies will view your case will also depend on the type of cancer you have been diagnosed with: for example, prostate cancer has a lower survival rate than other cancers, so your premiums will be higher because you are a higher risk for them to cover.

Need Help Finding An Affordable Life Insurance Policy?

If something were to happen to you, your family would be facing emotional hardships, as well as financial ones. Life insurance is a great way to help your loved ones with those financial hardships: the money they receive will help pay for expenses related to your death, and any other debts or bills they have. There are many different kinds of life insurance policies to choose from, including whole life insurance, term life insurance, and final expense insurance, so if you’re not sure where to begin, consider using online tools, or speaking with an agent. The right policy for you is out there! We have provided the top insurance companies that offer life insurance policies below; each can give you hassle-free assistance and the most competitive rates in the nation. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Whole life VS Universal life insurance

Choosing the right life insurance policy for you is a big decision. You want to properly protect your family, and there are so many life insurance policies to choose from! A good place to start, though, is with the most popular types of life insurance: permanent and term life insurance policies. Of those two, permanent life insurance policies offer you lifetime protection, and have a cash value that builds over time, making them a great choice for many people.

If you’ve decided that a permanent life insurance policy is the right way to go for you, you will still need to narrow down your options. For example, there are two main types of permanent life insurance policies to choose from: whole and universal. If you are considering a permanent life insurance policy, understanding the similarities and differences between these two policies can help you make the right choice.

Whole Life Insurance

This type of life insurance policy is the most common type of permanent life insurance. Whole life policies have a fixed premium, which means your premium payments will remain the same for the life of the policy. In addition, your cash value will continue to grow at a steady rate, and once you meet a minimum required cash value, you can borrow against it, similar to taking out a loan.

The benefits of whole life insurance include: illustration of an infinity sign with the cycle of life

Peace of mind throughout your whole life, as long as you pay your premiums.
You can borrow against your cash value if you need money.
Your family will get a guaranteed death benefit that will not fluctuate.
Because premiums don’t change, your payments will be easy to budget for.
Any cash value growth is tax-deferred.

Universal Life Insurance

Universal life insurance is another type of permanent life insurance that you should look into if you’re considering a permanent life insurance policy. With this type of policy, your monthly premiums are divided between maintaining your death benefit and growing your cash-value account. The insurer will set a minimum premium and if you choose to pay more, that money will go towards helping your cash value grow faster. In addition, your insurer will set a minimum interest rate when you purchase your policy, and your cash value will grow based on current interest rates. Your interest rate can go up and down based on the market, but it will never go below the minimum rate.

The great thing about universal life insurance is that it offers more flexibility than most types of policies. For example, you have the flexibility to adjust how much you pay for your premiums by accessing some of your built-up cash value: after your cash value grows to a certain amount, you can use it to pay premiums, or you can leave it alone to continue to grow. You also have more options with universal life than with whole life insurance: for example, you can choose a level premium and death benefit, meaning your payments won’t change, or you can choose an adjustable plan, allowing you to raise or lower your premiums.

The benefits of universal life include:

You can skip premium payments if you have enough cash value built up to cover your payments.
You’ll have the flexibility to change your premiums and death benefit if you cannot afford your premiums.
Your cash value can grow faster if interest rates are high, and any interest you earn from your cash value will not be taxed until you withdraw it.

Which Should You Choose?

When trying to choose between whole life insurance and universal life insurance, there are some things to consider. Specifically:

Would you like flexibility or to stick to a set monthly budget?– Whole life insurance premiums stay the same, but universal life insurance premiums can change.
The earning potential of your policy– Universal life insurance premiums are less expensive than those of whole life insurance, because you take a higher risk with your interest rate, and might earn less in interest than with a whole life insurance policy.
Are your finances secure? If you have a set budget and can afford whole life insurance, it might be a great fit. However, if you need flexibility in case your life changes and you need to make cuts, universal life is great because you can adjust your premiums.

Both policies offer you and your family protection for your whole lifetime, and both have their own set of unique features and benefits. Finding the right permanent life insurance policy comes down to your financial situation and your family’s needs. If you are looking for more flexibility, a universal life insurance plan is best for you, but if you would like to stick to routine monthly premiums that you can budget for, whole life insurance is best. Or, if you would rather stick to a fixed interest rate and a set death benefit, rather than taking your chances on how well the market is doing, you’ll want to stick with whole life.

The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Don’t Let One Of These Reasons Stop You From Buying Life Insurance

It happens way too often. You’re presented with an opportunity to get life insurance, whether through work or from your insurance company – you briefly consider it and then ask yourself, “Do I really need this extra expense?” and ignore the offer. Money might be one reason why you’ve chosen not to get life insurance, but there are lots of reasons why people put off buying life insurance – we’ve seen them all before! And maybe life insurance doesn’t feel like that much of a priority right now, but putting it off can put your family’s financial future at risk. We’re here to tell you that life insurance is affordable, and worth it for your family, so don’t let one of the following reasons stop you from buying life insurance.

“I Don’t Want to Go Through a Medical Exam”

The medical exam that you’ll have to undergo for some types of life insurance policies can seem a bit daunting, but they’re not the invasive experience you might think they are. These exams are sort of like a scaled-down version of a physical you might get at your doctor’s office: the life insurance company will send someone to your house (if you would like), who will check your height, weight, and heart rate, and take a blood and urine sample. If you’re worried that the results of your exam will be used against you when calculating your risk and rates, know that you have options! There are many life insurance policies you can choose from that don’t require you to undergo a medical exam.

“I Can’t Afford Life Insurance Because I Have Health Issues”

Having pre-existing conditions is not as much of a barrier to getting affordable life insurance as you might think – it depends on what your health issues are. If you are living with a serious condition, that could raise your life insurance rates, or even mean that you will be denied a policy, but you still have the option of a no-medical exam policy that guarantees you’ll be accepted. No medical exams policies are perfect for people with pre-existing conditions, and include options like:

Guaranteed Issue Life– With this type of policy, you will not be rejected for any health-related reason. You will simply need to answer a few questions about your health to determine your policy rate, and you can receive coverage in as little as a day. The death benefit for this policy can be anywhere from $5,000 to $25,000.
Simplified Issue Life– These policies last for a certain time period (or term) – usually 10, 20, or 30 years, and are a step up from guaranteed issue life policies. They are more expensive than traditional life insurance policies, but because coverage is often limited, they are cheaper than guaranteed issue policies.
Guaranteed Death Benefit Life- Similar to guaranteed issue life insurance, with some slight differences. You will have to answer some health questions, with the number of questions depending on the insurance carrier. Because there might be more health-related questions, these policies are slightly less expensive than guaranteed issue life insurance. These policies offer coverage up to $50,000.
Final Expense Life– Also known as burial insurance; coverage is designed to cover end-of-life expenses, including burial costs, funeral ceremony costs, final medical bills, and any small debts. Policies offer coverage from as low as $2,000 to up to $50,000.

“I Have Other Financial Priorities”

Maybe life insurance isn’t a priority for you because you have other financial responsibilities, especially if you have a family. But, there are so many affordable life insurance policies out there, with some – like term life – costing as little as $15 a month for healthy people – that’s cheaper than the cost of lunch these days! The only way to find out if you can afford a policy is to research, compare, and work with an agent who specializes in life insurance.

“I Don’t Understand It”

Life insurance is not something you learn about in school or even something you’re taught about as an adult. It is something you have to learn about on your own, which can be very frustrating. If you are unsure how it works, and which policy is right for you, rely on an insurance professional who can guide you in the right direction when buying life insurance.

Your family has financial obligations that will not go away when you are gone; they will need your help more than ever with their expenses, and the last thing you want them to worry about is money while they are grieving. The best way to understand how life insurance works, and find the right policy for you and your specific needs, is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

5 Signs It’s Time to Get Life Insurance

There are many reasons to buy a life insurance policy. All of these reasons might apply to you, or maybe just one of them, but no matter what stage of life you are in, a life insurance policy is a helpful and even necessary thing to have. In fact, 59% of people who don’t own life insurance say they need it! If you don’t already have life insurance, here are five signs that it’s time to purchase a policy.

1. You Just Got Married

couple getting married — *When you get married, getting life insurance is important to provide your spouse in case of an accident.*

Having a partner to go through life with you is a wonderful thing, and because you love them, your instinct is to want to protect them and provide for them. The best way you can do this is by buying a life insurance policy that can not only provide you with a cash value that you can borrow against in times of need, but will also provide financial stability when you pass away. A policy can help replace your income and cover expenses that would fall on your partner if the worst were to happen.

2. You Just Bought A House

Houses are not cheap, and the mortgage you have to pay for 20+ years can be a huge monthly expense. That means if you were to pass away, it’s possible your family would no longer be able to pay the mortgage, and could end up losing the house you put so much money into and made so many memories in. One way you can prevent this is by having a life insurance policy in place that will continue to help pay the mortgage for years to come: for example, you could choose a term life insurance policy that will cover you for 10, 20, or 30 years. You can even look into riders to add onto your policy that are specific to helping pay your mortgage; these riders can adjust your interest rate and monthly payments on your loan.

3. You Have People Who Depend On You

Roughly 42% of Americans would face financial hardship within 6 months if the primary wage-earner of their household were to die unexpectedly. If you have older parents, a spouse, children, or any other people who depend on you, they could end up in a serious situation if you could no longer provide for them. With a life insurance policy, you can make sure that they are taken care of in the event that you are no longer around.

4. You Have Loans

Do you have those pesky loans and debts that just don’t seem to go away no matter how much you pay into them? Well, any government-issued loans you have will die when you do, but this is not necessarily the case when you take out private loans, or with other debts you might have. Those loans can fall onto your spouse, or even children when you pass away. Having a life insurance policy can help them pay off your debts, leaving them with the rest of the money to spend how they see fit.

5. You Are Having A Baby

Congratulations! Children are cute, fun… and expensive. They bring a lifetime of joy, but also a lifetime of worry: you will worry about what school they should go to, their sleep routine, how well they’re socializing with other kids, whether they’re eating right – and you’ll also worry about providing a great future for them. You will no longer be able to provide for them when you are gone, but a life insurance policy can help to secure their financial future, as well as help pay for their needs and their college tuition, and even leave them a lump sum if you choose the right life insurance policy.

Choosing the right life insurance policy is necessary to ensure that your family gets the benefits they need. It might seem complicated and frustrating to find the right one, but it can be done, with some help. The best way to find the right life insurance policy for you and your specific needs is by working with an agent who specializes in life insurance. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

Does Marijuana Use Affect Your Life Insurance Rates?

Over the past couple of years, marijuana has been legalized in more and more states, meaning marijuana use has become more common. And, while many people are now more accepting of the use of it, there are still some instances in which using the drug can be used against you. For example, some life insurance companies might view marijuana use unfavorably; however, that doesn’t necessarily mean you will be denied coverage, since different companies have different guidelines. Most insurers will want to know how often you use marijuana, among other factors. So, how will it affect your chances of getting a life insurance policy?

Do Smoker Rates Apply?

It probably comes as no surprise that smokers get charged more for any insurance plan they try to purchase, whether health insurance or life insurance, because smokers are seen as at a higher risk of death than people who do not smoke. Fortunately, though, many life insurance companies will classify marijuana users as nonsmokers, so rates will be lower for you if you use marijuana than they would be if you used tobacco products. You should be aware, though, that insurers will ask you how often you smoke.

How Often Do You Use Marijuana?

hand holding a white joint with the other hand lighting it up with a lighter — *How often you use marijuana will factor into how much your life insurance rate will be.*

Are you an avid marijuana user? Do you do it daily? Weekly? Monthly? How you answer this question can determine how much of a risk you are to the insurance company. You might not be labeled a smoker in their eyes, but you might still be considered a risk because, according to some insurers, marijuana use could possibly lead to long-term health effects. So if you occasionally smoke marijuana, you will have less to worry about, but if you smoke daily or weekly, life insurance companies might classify you as a greater risk, which means you will pay more.

Medical Exam Vs No Medical Exam

When applying for life insurance, you will have to undergo a medical exam, which will include a drug screening for marijuana and other drugs. If you plan on applying for life insurance, it would be in your best interest to not use marijuana for at least a month in order to lower your levels of THC (tetrahydrocannabinol). Insurers would prefer to see negative THC results, but the lower the levels, the more favorable the outcome for you.

If you want to avoid the medical exam altogether, your best bet is a no medical exam life insurance policy. These policies guarantee coverage regardless of any pre-existing condition or tobacco or marijuana use. Be aware, though, that some companies will require you to answer a health questionnaire; it is important that you don’t lie to the insurance company, which could lead to your family losing benefits in the event of your passing, and you losing your policy when the insurer finds out the truth.

Will Marijuana Use Affect Your Rates?

Marijuana use could affect your rates, depending on whether you are using it recreationally or medically. If you are using marijuana for medical reasons, and you put that on your application, your usage will be underwritten based on a medical condition. But if you use it recreationally, life insurance companies will have follow-up questions. Specifically, they will want to know how often you use marijuana, and will ask about such things as:

Your tobacco use– Are you also smoking tobacco while using marijuana? If so, you can expect higher rates.
Your mental state– If you have been diagnosed with or have a history of mental illness, insurance companies will take this into consideration.
Your driving record- If you have a bad driving record, life insurance companies will consider you a higher risk, and adding marijuana use into the mix makes you an even higher risk, since smoking and driving is considered a DUI.

Get The Best Rates

Whatever your opinions on marijuana use, life insurance is important to consider for your family when you are gone. Providing your loved ones with financial stability in the event of your passing will mean they won’t have to worry about money while grieving your loss. There are many different life insurance policies to choose from so you are sure to find the right one for you! The best way to find a life insurance company that will provide you with an affordable policy with great coverage, even if you use marijuana, is to shop around. To make the process easier consider using online tools, or speaking with an agent. We have provided the top life insurance companies in the nation that offer hassle free assistance and the most competitive rates below.

Don’t wait until you need life insurance to get it! Always check multiple sites to make sure you have bargaining power and that you know the advantages of each company. Make sure that a hard time for your loved ones isn’t made harder by a financial burden, check life insurance rates today.

Can Non-US Citizens Get Life insurance?

Think you can’t get life insurance? Well, we’d like to remind you that there are policies out there that are accessible to almost everyone: life insurance companies have come a long way in opening the market to more people. But what if you are not a U.S. citizen? Can you get life insurance? The answer is yes! Find out just how non-U.S. citizens can get life insurance.

Requirements For Non-US Citizens To Get Life Insurance

While yes, non-US citizens can get life insurance, there are some restrictions. You will need to have a green card or visa, and most, if not all, life insurance companies will need you to provide information proving your connection to the US, including: blue bank card

U.S. bank account information
U.S. address
Property deeds
Proof of your global assets
Your medical records for the last 5 years
The name of an attorney who represents you, in some cases

Applying With A Green Card

If you are a green card holder, you are considered a permanent resident, so you won’t typically have any issues getting life insurance coverage. You will also be eligible for the best class rates, and will just need to send a photocopy of your green card to prove your immigration status.

Applying With A Visa

If you are living in the U.S. on a visa, you do have options, but you will have more issues trying to get a policy, because visas have limitations or conditions, depending on the type of visa. You will have to speak to each life insurance company to find out if you meet their specific conditions, but most will offer coverage based on either what is known as “substantial presence” or “significant interest”:

Substantial Presence: To have substantial presence in the U.S., you typically need to have lived here for at least one year. Some carriers require up to five years of significant presence in order to offer best-class rates.
Significant Interest: Significant interest requires the applicant to prove that they have resources invested in staying in the U.S.. Most of the time, this means owning property or having assets here.

So, if you have a work visa, you will qualify for coverage, but if you have a student visa, you will struggle to get a life insurance policy. In addition, if you have a work permit that only allows you to travel and work in the U.S. for a certain amount of time, you will also be unable to purchase a policy.

If you have one of the following visas, you can apply for life insurance:

H-1B visas: Given to those in a specialized field.
E-1 visas: For individuals or company employees coming from a country that are trade partners with the U.S., allowing these individuals to engage in trade efforts.
E-2 visas: Non-immigrant classifications for a treaty country (one that the U.S. trades with) that sometimes allow long-term stays.
K-1 visas: For those with a fiancé or fiancée in the U.S. who is already a citizen.
K-2 visas: Allows the children of a K-1 visa fiancé or fiancée to enter the U.S. and remain here.
V-1 visas: For a person who is the spouse of a lawful permanent resident of the U.S., such as a person who holds a green card.
V-2 visas: Allows families to remain together while their immigrant visas are being processed.

How Much Will a Policy Cost?

Life insurance rates are based on a number of factors, such as your age, health history, driving record, and your income. The best way to find out how much you can expect to pay for a life insurance policy based on your immigration status is to consider using online tools and working with a licensed knowledgeable agent in your area. We have provided the top life insurance companies in the nation below; each offers hassle-free assistance and the most competitive rates. Always check multiple sites to make sure you have bargaining power and know the advantages of each company. Make sure a hard time isn’t made harder by a financial burden, check life insurance rates today.

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