Life insurance is the foundation of any healthy financial plan. It assures the legacy you want while providing for the next generation. Although the benefits of life insurance are paid at death, your health while living is one of the key factors that determines the overall cost of a life insurance plan. It’s important to know that medical advancements have caused changes to what is considered an “insurable impairment.” Modern medicine is providing cures and helping control many ailments that were once considered serious. Let’s look at how your health impacts your life insurance premium.
Height and Weight
The first thing all life insurance carriers view is your build, which is your height and weight. The build charts that carriers use vary by company. This means that one individual who falls in a non-favorable class due to build with one carrier, may see more favorable ratings with another. This is where the expertise of a Pastors Legacy Plan licensed professional is critical to help you determine the best carriers for your scenario.
Many people are hesitant to incorporate life insurance into their financial plan because they believe their medical condition may not be insurable, or they feel their impairment may yield an unfavorable health class. Although all these fears are understandable, many life insurance carriers have made changes to their underwriting guidelines as modern medicine continues to change the medical landscape.
Pastors Legacy Plan is dedicated to helping you find the right carrier for your medical condition. If you have a medical condition that you fear will keep you from protecting your family and providing for the next generation, then please contact us: we are here to help.