My father is under 60 and has heart disease because of his poor diet, sedentary lifestyle, drinking, smoking, and high blood pressure. I am 30 and in perfect health. I want to increase my life insurance because my wife and I are starting a family. Will I have to pay higher rates because of my father's condition?
Thomas, Massachusetts
Dear Thomas,
A family history of heart disease or cancer can be a serious concern for insurers because these diseases often appear frequently among close relatives.
As a result, some insurers will not offer you "super-preferred" or "preferred" premiums due to your father's relatively young age and heart disease — offering you only "standard" premium rates.
Other insurers will only knock out otherwise eligible applicants from their best classes if one of their parents or siblings died prior to age 60 due to heart disease or other medical conditions.
So, for you, the key is to check the wording of the eligibility requirements on life insurance applications to make sure you are applying to insurers that will not disqualify you for their best rates because of your father's medical condition.
Avoid policies that ask if there has been any incidence of heart disease in your family and focus your applications to the insurers that only ask if there have been any fatalities from heart disease prior to age 60 among your immediate relatives. An independent insurance agent can shop around to find the best insurance companies for you.
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Disclaimer: We are journalists, not financial planners or insurance brokers. Nothing we say should be interpreted as a recommendation to buy or sell any insurance product, or to provide other financial or legal advice. |
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