Family History Life Insurance
A factor that is often overlooked when considering how you might rate for life insurance is your family history. While it generally isn’t considered beyond your immediate family, mother, father, sisters and brothers, your family’s health history is taken into account. In most cases we are talking about a death or disease prior to age 60.
I hear all about how it’s not fair when talking to clients. “I know my Dad died of a heart attack at age 55, but he was overweight and smoked and drank…”. The fact that you aren’t following in those footsteps is a good thing, but the challenge for an underwriter is twofold. Without your Dad’s medical records none of that can be proven and even with all the bad habits your Dad may have been prone to coronary artery disease and genetically you might be too.
Fortunately, there are a lot of companies who have dropped family history of cancer from their guidelines. There are exceptions even for those companies that don’t hold cancer as a tier one guideline. If you have an extensive family history of, say, breast cancer it can and probably should be considered. If you’re female and your mom and a sister or two had breast cancer a company could rightly rate for that.
We always screen clients on family history to ensure that whatever company we entrust with their application will have the best stance leading to the best rate.
More Questions? Check Out Our Blog!
The Hinerman Group knows that every situation is unique and it can be difficult finding the best answers. Be sure to check out our blog where you will find a comprehensive bank of topics covered regarding Life Insurance. The background covered in The Hinerman Group blog will point you in the right direction and help you get your family the coverage you need.
Want to talk? Call Ed directly at (719) 539-7914 for a FREE CONSULTATION. *Ed released the fish and it went on to have a full life. Occasionally Ed receives postcards from new waters and pictures of grandfish.