insurance

Top 10 health hazards for life insurers

Insurance » Life Insurance » Top 10 Health Hazards For Life Insurers

Heart disease
Heart disease © Kladej/Shutterstock.com

Heart disease

Heart disease is a red flag for a life insurance underwriter because a massive heart attack can be sudden and deadly. But an underwriter's concern doesn't begin and end with "the big one."

"Heart disease is not one condition; it's a conglomerate of many conditions," explains Goldstein. "Each condition has to be looked at separately."

Because the severity and progression of heart disease can be difficult to document, underwriters typically take a second look at the applicant's family tree for guidance.

"Generally, this is associated with immediate family members -- father, mother, sister, brother -- who may have developed heart disease or had a stroke," says Bloom. In addition, a 40-year-old man may be asked to undergo an electrocardiogram prior to becoming insured.

Will heart disease keep you out of the preferred risk class?

"In general, coronary artery disease in a 40-year-old would usually be looked at carefully and could be something that is rated (not preferred)," says Goldstein. "If the heart has significant damage to it so that it is not pumping effectively, it could actually be a situation that is not insurable."

advertisement

Show Bankrate's community sharing policy
          Connect with us

Compare multiple quotes in just 6 minutes

Get competing rates from top companies including:
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jay MacDonald

How will Ebola affect US insurers?

The Ebola pandemic could have repercussions for health insurance, life insurance and workers' comp.  ... Read more

advertisement
Partner Center
advertisement

Connect with us