When applying for life insurance, the best kind which requires a blood test, you’re bound to get asked a version of this question: Did your mother, father or a sibling have or die from heart disease or cancer prior to age 60? If unfortunately that’s a yes, and you thought you might qualify for preferred rates, you have to shop a bit harder for the most favorable rates. For a reference guide please check my carrier underwriting guidelines for family history.
Are rate ups due to family members fair? Well, evidence does support a family history of heart attack as hereditary, and certain cancers are associated with genetics. It doesn’t seem fair when bad health habits were the problem. Justified or not, most carriers will stick to their underwriting guidelines, though pleading your case through an agent cover letter can’t hurt.
Fortunately, a few carriers like Lincoln National, John Hancock and ING a family history of cancer is not a factor.
For heart disease prior to age 60, many companies give it a pass. For fatal coronary heart disease of a parent prior to age 60, it is much harder to avoid a rate up, though Principal Life and MassMutual use an overall credit approach where good health can offset a risk factor like family history.
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