Problems with Life Insurance and High Cholesterol in Ontario

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There is no definitive answer about what the actual guidelines are for high cholesterol. When it comes to life insurance. This is because every insurance company is different. Also, it may be that life insurance companies in the US or the UK may have different guidelines. So it important to understand this if one is researching this matter.

It is safe to say that there are going to be some factors. Ones that insurance companies are going to take into account. There are several different factors that can have an adverse effect. On those who are presenting with high cholesterol. Which increase the health risks of the individual.

To help mitigate these risks the heart and stroke foundation has set some guidelines. For individuals concerning their cholesterol. Some individuals meet of criteria. They are encouraged to have their cholesterol checked Such as;

  • If a male is over forty and a female s over 50. Of if shes post-menopausal
  • Individuals that have other conditions such as hypertension, diabetes or heart disease
  • Smokers or those who have recently quit in the last year
  • Males with erectile dysfunction
  • Family History of heart disease or stroke
  • Also, weight is a concern. But more in regards to waist circumference. Which is different for men being at 37 inches (94 cm) or women who are 31.5 in (80 cm)

It would make sense that the insurance companies would be most interested in these guidelines. Insurance companies put a lot of emphasis on medical data and statistics.

Acceptable Cholesterol Levels for Life Insurance

Every insurance companies is a separate business entity. They are going to have their own internal policies. As to what they assume is acceptable cholesterol levels.  Many rely on statistics. They are probably going to follow the normal cholesterol ratings for Canadians.

Cholesterol ratings can get a little confusing. There are two types of cholesterol. There is the LDL Cholesterol which is the bad cholesterol. Then there is the HDL cholesterol which is the good cholesterol.  The total number for the cholesterol is looked at based on the ratio of these two types. It is always better if the good cholesterol numbers are higher than the bad. As the good cholesterol can help to mitigate some of the negative aspects of the bad.

Low Cholesterol Life Insurance

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Low cholesterol life insurance may be a term. Referred to by those who do not have any cholesterol problems. Meaning that their bad cholesterol numbers are below the acceptable levels. In this case, cholesterol is not going to be a pre-condition. For the individual when it comes to life insurance. It is not going to affect their ability to get life insurance. There are rare conditions where low cholesterol could be abnormally low. Not a lot is known about this yet. There are some studies done about how low cholesterol could have an impact on mental health.

Denied Life Insurance for High Cholesterol

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A life insurance company has the right to deny selling life insurance products. Normally they are only going to do this if they had good reason to do so. After all, they are in the business of making money. The insurance company may deny the insurance. Based on high cholesterol. They may have also taken into consideration some of the other potential factors. Ones that could cause problems. For example, if the individual had high cholesterol and was a smoker. Or if they were a male over the age of forty with high cholesterol and were also a smoker. The insurance company is going to add up the risks. The most risks the more likely they are to deny insurance.

High Cholesterol Life Insurance

High cholesterol life insurance is another common term. Focusing on insurance companies that are going to provide life insurance. For those who have declared that they have high cholesterol. Or it surfaced during a medical exam ordered by the insurance company.

Each insurance company has their own way of doing things. So, for some, high cholesterol may not be something that they place their main focus on. Or, they may feel that if the individual is receiving treatment for high cholesterol, they are less of a risk. There are many different types of medications now that get used to treat cholesterol. So someone may get diagnosed with cholesterol. But their recent blood tests show that the cholesterol is within a normal range. Being as they are taking medication to control this. The insurance company may recognize this. They may determine that the cholesterol is treatable, so it is not a major risk for them.

Best Life Insurance for High Cholesterol

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Cholesterol as a pre-existing medical condition can pose a problem at any level. For those that want to buy life insurance. But, there are a lot of people with this condition. The insurance companies recognize this. It means they are losing out on a whole lot of business if they were to turn everyone away with this condition. So, some of the insurance companies may be willing to make some concessions. They may offer some forms of life insurance to these individuals. For them, they may get restricted to buying a limited amount of coverage. Then added to this will be higher premiums. The insurance companies are still taking a chance with this type of offer. But, far less than what they would if they sold the standard insurance coverage.

Insurance companies became aware that there are a great number of pre-existing health conditions. Ones that included high cholesterol. They were innovative in coming up with a solution. It was the no medical exam, no medical questions asked. It means offering a limited amount of insurance coverage. With a higher insurance premium. Plus, an extra condition. Meaning that they will not pay out the insurance policy in the first two years. From the date that the insurance gets taken out. So if the insured dies the beneficiary is not going to get the value of the insurance policy. This allows the insurance company to collect two years of insurance money. Basically, risk-free. Although there may be some additional conditions with this in favour of the insured. Also, the beneficiary.

Resources

https://termland.com/cholesterol-elevated-lipids/
http://www.lifeman.ca/life-insurance-and-high-cholesterol/
http://www.heartandstroke.ca/heart/risk-and-prevention/condition-risk-factors/high-cholesterol
https://www.statcan.gc.ca/pub/82-625-x/2012001/article/11732-eng.htm
https://www.healthline.com/health/cholesterol-can-it-be-too-low#low-cholesterol

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