Cholesterol And Life Insurance: What's The Connection?

High cholesterol is a common condition, with an estimated 70-94 million Americans suffering from it. It is a major factor in determining life insurance premiums, as it is an indicator of heart health and can lead to serious health complications. Despite this, it is still possible to obtain life insurance with high cholesterol, although it may involve higher premiums and a more complex application process. This is because insurance companies evaluate high cholesterol differently than doctors, focusing on the ratio of HDL (good) to LDL (bad) cholesterol rather than the total cholesterol level. Additionally, they take into account various other factors, such as family health history, lifestyle choices, and overall health. This paragraph provides an introduction to the topic of how high cholesterol affects life insurance, which will be further explored in the following sections.

How high cholesterol affects life insurance premiums

High cholesterol can have a significant impact on life insurance premiums, and it is a major factor in determining insurance eligibility and pricing. This is because high cholesterol is considered a risk factor for heart disease, increasing the likelihood of a heart attack or stroke, which are serious medical conditions that may result in untimely death. As a result, insurance companies view individuals with high cholesterol as high-risk and may charge higher premiums or offer policies with higher rates.

When assessing an individual's cholesterol levels, insurance companies typically look at the ratio of HDL (good cholesterol) to LDL (bad cholesterol). A higher ratio indicates better heart health and can lead to more favourable rates. For example, an individual with a cholesterol level of 200 and an HDL level of 40 would have a ratio of 5.0, which is considered better than an individual with the same cholesterol level but an HDL level of 20, resulting in a ratio of 10.0.

It is important to note that cholesterol levels are just one of many factors considered by insurance companies when determining premiums. Other factors include age, weight, gender, alcohol consumption, occupation, health history, and tobacco use. Additionally, insurance companies also take into account an individual's efforts to control their cholesterol levels through medication, diet, and exercise. Leading a healthy lifestyle can help lower cholesterol levels and improve overall health, which may result in more favourable rates from insurance companies.

While high cholesterol can impact life insurance premiums, it is not necessarily a deal-breaker. Many insurance companies offer policies specifically for individuals with high cholesterol, and working with an independent insurance broker can help find the most suitable option. Comparing rates from different carriers is crucial, as larger insurance companies may be less lenient with applicants who have high cholesterol compared to smaller, more specialised companies.

In summary, high cholesterol can affect life insurance premiums by increasing the perceived risk to insurance companies, leading to higher rates or policy rejections. However, by managing cholesterol levels through medication and lifestyle changes, individuals can improve their overall health and potentially secure more favourable rates from insurance providers.

How to get life insurance with high cholesterol

High cholesterol is a common condition, with around 38% of American adults suffering from it. Despite this, it can make it difficult to secure an affordable life insurance policy. However, it is still possible to get life insurance even with high cholesterol. Here are some steps you can take to improve your chances of getting approved for life insurance with high cholesterol:

Understand Cholesterol Levels

Firstly, it is important to understand what cholesterol levels are considered healthy and how they can affect your life insurance premiums. High cholesterol is generally defined as:

• Total cholesterol: Over 200 mg/dL
• LDL (bad) cholesterol: Over 130 mg/dL
• HDL (good) cholesterol: Below 40 mg/dL for men and below 50 mg/dL for women

Life insurance companies look for individuals with cholesterol levels within the standard healthy ranges. They may also consider the ratio of your total cholesterol to HDL cholesterol, with a ratio below 5:1 generally considered good.

Improve Your Cholesterol Levels

If your cholesterol levels are high, you can take steps to improve them before applying for life insurance. This includes exercising, eating a healthy and balanced diet, and avoiding habits that contribute to high cholesterol, such as smoking or excessive alcohol consumption. It is also important to manage your weight, as being overweight can increase triglycerides and decrease HDL.

Work with a Healthcare Provider

Consult a healthcare provider to develop a plan to control and improve your cholesterol levels. They may recommend lifestyle changes or prescribe medication to help manage your cholesterol effectively. It is important to follow their recommendations and take any prescribed medication consistently.

Regular Check-ups and Medical History

It is crucial to schedule regular check-ups and follow-up appointments with your healthcare provider to monitor your cholesterol levels and overall health. Life insurance companies will look for evidence that you are actively trying to lower your cholesterol and improve your health. They will also consider your medical history, including regular check-ins with your primary doctor and any treatments or medications you are undergoing to manage your cholesterol.

Choose the Right Insurance Company

Not all insurance companies have the same guidelines and rules for high cholesterol. Some companies may be more flexible and favourable for individuals with high cholesterol. It is important to research different insurance companies and find the one that best suits your needs. An independent broker can help you navigate the options and find the right coverage at the best price.

Be Transparent

When applying for life insurance, it is essential to be transparent and disclose any relevant medical information, including your high cholesterol. Failure to do so can result in policy cancellation or denial of claims in the future. Provide details such as your recent cholesterol readings, medical history, medications, and any related medical conditions.

How to lower your cholesterol

High cholesterol is a common issue, with 73.5 million adults in the United States suffering from it. It is also the number one reason for life insurance denials and unexpected approval rates. This is because high cholesterol is an indicator of heart disease, which poses a high risk to insurance companies. However, it is still possible to obtain life insurance with high cholesterol, and there are steps you can take to improve your chances of approval and lower your premiums.

Dietary Changes

• Consume more soluble fibre, which binds cholesterol and its precursors in the digestive system and removes them from the body before they enter the bloodstream. Good sources of soluble fibre include oats, barley, beans, eggplant, okra, apples, grapes, strawberries, citrus fruits, and whole grains.
• Increase your intake of polyunsaturated fats, which directly lower LDL cholesterol. Vegetable oils such as canola, sunflower, and safflower are good sources.
• Eat more plant sterols and stanols, which block the body from absorbing cholesterol. These can be found in fortified foods such as margarine, granola bars, orange juice, and chocolate, or taken as supplements.
• Consume fatty fish two to three times a week to lower LDL cholesterol. Fish contain omega-3 fats, which reduce triglycerides and help prevent abnormal heart rhythms.
• Limit your intake of saturated and trans fats, which contribute to high LDL cholesterol.

Lifestyle Changes

• Engage in regular physical activity, as this has been shown to lower LDL cholesterol and raise HDL ("good") cholesterol.
• Quit smoking, as this can lower HDL cholesterol levels.
• Maintain a healthy weight, as being overweight can increase triglycerides and decrease HDL.
• Manage stress, as chronic stress has been linked to higher LDL cholesterol and lower HDL cholesterol.
• Get adequate sleep, aiming for 7-9 hours per night. This can help lower the risk of high LDL cholesterol and total cholesterol levels.

Medical Treatments

• Take prescribed medications to help manage your cholesterol levels if recommended by your healthcare provider.
• Consider lipoprotein apheresis, a treatment that uses a filtering machine to remove LDL cholesterol from your blood. This is typically used for people with familial hypercholesterolemia (FH), an inherited condition that causes very high cholesterol levels.
• Speak to your doctor about supplements that may help lower cholesterol, such as plant stanols and sterols, soy products, whole flaxseed, flaxseed lignans, or garlic supplements. However, always check with your healthcare provider before taking any supplements, as they may have side effects or interact with medications.

How to find the right insurance company

High cholesterol can affect the cost of your life insurance, as it is considered a risk factor for heart disease. However, it is still possible to obtain life insurance with high cholesterol. Since each insurance company has different guidelines and rules, it is important to find the right insurance company that suits your specific needs and situation. Here are some tips on how to find the right insurance company:

• Compare multiple insurance companies: Research and compare the policies, rates, and guidelines of different insurance companies. This will help you understand the options available and make an informed decision.
• Consider your specific needs: Determine the type of policy you need (term or permanent), the amount of coverage required, your budget, and any desired riders or policy features. This will help you narrow down your options to companies that meet your specific needs.
• Check financial strength: Ensure that the insurance company you choose has strong financial stability and is likely to be able to pay out your death benefit in the future. You can check financial strength ratings from independent rating agencies such as AM Best.
• Review customer satisfaction: Look for insurance companies with high customer satisfaction ratings and fewer customer complaints. You can refer to ratings from organisations like J.D. Power and the National Association of Insurance Commissioners (NAIC).
• Consider available policy types: Choose an insurance company that offers the specific type of coverage you need, such as term, whole, or universal life insurance. Some companies may have more flexible guidelines regarding high cholesterol.
• Work with an independent broker: Consider working with an independent broker who has extensive knowledge of the industry and can help you navigate the complexity of selecting the right insurance company. They work for you and not the insurance companies, so they can provide unbiased advice.
• Get multiple quotes: Contact multiple insurance companies and get quotes to compare the costs and coverage options offered. This will help you find the most suitable policy at the best price.
• Read the fine print: Before finalising any policy, make sure you thoroughly understand the details, exclusions, and terms and conditions of the insurance contract.

How to keep life insurance costs down

High cholesterol can affect the cost of your life insurance, as it is a major factor in determining your overall heart health. This, in turn, affects your risk assessment, which is used by insurance companies to determine health and rates.

• Don't overinsure yourself: Ensure you have sufficient cover to provide financial security for your loved ones, but avoid overinsuring. Calculate how much cover you need by considering factors such as rent or mortgage payments, outstanding loans, future possible expenses, and income replacement.
• Pick the right policy: The type of policy you choose impacts the price. Whole life insurance is the most expensive as it pays out regardless of when you die. Term insurance is cheaper and covers you for the duration of the policy, such as until your mortgage is paid off.
• Reduce the term of your policy: The longer the policy, the more expensive it will be. Consider how long you need to be covered. For example, you may only need coverage until your children are financially independent.
• Look for guaranteed premiums: Choose guaranteed premiums to lock in a fixed monthly rate for the duration of the policy. Reviewable premiums are cheaper initially but can increase over time, taking into account factors like age and health.
• Let your cover level fall: Choose decreasing term life insurance, where the payout decreases over time. This type of policy is often used for repayment mortgages, where the amount owed reduces over time, and it tends to be less expensive than level term cover.
• Consider joint cover: If you're part of a couple, a joint life insurance policy could be more convenient and cheaper than two individual policies. However, consider that it will only pay out once, upon the first death, and may not be suitable if there is a significant income disparity between partners.
• Buy life insurance when you're young: The younger you are when you take out a policy, the cheaper it will be, as you pose less risk to the insurer.
• Improve your health and lifestyle: Adopting healthier habits can reduce your risk and, consequently, your premiums. This includes quitting smoking, reducing alcohol consumption, losing weight, and increasing physical activity.
• Switch insurers: Shop around for life insurance and consider switching providers. Different insurers charge varying premiums for the same level of cover, so you may find a better deal elsewhere.
• Avoid costly extras: Many policies offer additional features like bereavement counselling and terminal illness cover, which come at an extra cost. Evaluate whether you need these extras or if you can opt for a more basic policy.
• Check your employee benefits: Some employers offer life insurance as a perk, often called "death in service" benefits. This can provide a significant level of cover, so you may not need to purchase additional insurance separately.
• Compare quotes: Utilise life insurance comparison websites to compare prices and policy details from multiple insurers. You can also contact individual companies directly to clarify any queries and find cover for specialist circumstances.

Frequently asked questions