We all know that life insurance is an incredibly important purchase that you’ll make for your family, but there are a lot of different factors that can make the process difficult, but it doesn’t have to be. Our agents can make the process as simple and quick as possible.
Obtaining coverage through a life insurance policy with any type of adverse health condition can be somewhat difficult. The primary reason for this is because the insurance company typically sees various health conditions – especially those that can shorten one’s life expectancy – as causing an applicant for coverage to be a higher risk for a claim. Therefore, in order to compensate for this risk, the insurer will either charge the individual a higher premium rate for their coverage, or deny them for coverage altogether.
Regardless, if you’ve been declined for life insurance in the past, don’t assume that you can’t get coverage for your family. There are plenty of options for affordable life insurance to give your loved ones the insurance protection that they need. There are plenty of conditions that could make you a high-risk applicant in the eyes of the insurance companies.
One health condition that can cause life insurance underwriters to proceed with caution is that of being overweight. This condition can oftentimes cause individuals to have high blood pressure, and it can also lead to other more serious health issues such as type 2 diabetes, heart attack, and stroke. Therefore, having gastric bypass surgery in many ways can help to reduce a number of health related risks.
There are, however, still some concerns that underwriters have when applying for term life insurance after gastric bypass surgery. Typically, these concerns center around two primary areas.
First, is the issue with the actual weight loss surgery procedure itself. This means that the individual must go through the surgical procedure without any type of complications such as infection, blood clots, internal bleeding, or additional surgery that is required in order to remove excess skin.
In addition, the underwriters want to ensure that the individual’s weight loss will remain stable. This means that – in most cases – the individual’s weight should stay at his or her target weight amount for at least a year following the gastric bypass surgery procedure.
Provided that all goes well with the surgery and the time period afterwards with regard to the individual’s target weight, it is possible that one could then successfully apply – and qualify for – term life insurance after gastric bypass surgery. In most cases, as long as you’ve maintained that healthy weigh through diet and exercise, the companies should give you affordable rates for a quality insurance plan.
Going Through the Underwriting Process
In addition to details about your gastric bypass surgery, the life insurance underwriters will also want to know other details about you prior to making a decision about your coverage. These details will typically include your:
- Height and weight
- Marital status
- Smoking habits / tobacco usage
- Alcohol usage
- Occupation and income
It is likely that you will also be required to take a medical exam as a part of the term life insurance underwriting requirements, unless you choose to go the route of a no medical exam policy, though this will come with a higher premium rate. This generally entails providing a blood and urine sample. These samples will be reviewed for various health conditions that may also be considered risky to the life insurance company.
All of the factors above are going to play a huge role in your chances of being approved for coverage and how much you will pay for your insurance policy. All of these are going to impact your insurance, and there are several factors that you can change to increase your chances of getting affordable coverage, like your weight, tobacco usage, and alcohol use.
If you want to get cheaper coverage, it’s time that you start getting regular exercise and stick to a healthy diet. Both of these are going to help you lose weight and lower your blood pressure, which will translate into better results from your medical exam.
Another way to secure lower rates is to eliminate any tobacco usage, being a smoker or using chewing tobacco is going to cause your insurance rates to double, regardless of the rest of your health. If you want to get cheap life insurance, it’s time to drop those bad habits once and for all.
How Much Premium Will You Have to Pay?
Once all of the information has been received and reviewed by the life insurance underwriters, they will be able to make a more accurate determination regarding your eligibility for coverage. If you are approved, you may qualify for a Standard policy rating. This means that you are considered to be of average health, height, and weight as compared with most other insureds. It also means that you will pay an “average” amount of policy premium.
If, however, the underwriters feel that you pose a higher amount of risk than average, then you may still qualify for coverage, but at a Substandard rating. This means that you will be required to pay a higher amount of premium for your policy due to the higher risk that the insurer is taking on.
In certain cases, an applicant may be of exceptionally good health, with no family history of adverse health conditions. In this case, the individual may be approved as a Preferred policy rating. The policy holder will also be able to pay a lower amount of premium than those who are in the Standard class, due to the lower amount of risk that they pose to the life insurance company.
There are several different ways that you can increase your chances of getting the best insurance rates available. One of the first things that you can do is start a diet and get regular exercise. Both of these are going to improve your chances of getting lower monthly premiums and keep more money in your pockets. Both a diet and exercise are going to help you keep off any additional weight, as well as lower your blood pressure and cholesterol. All of these are going to translate into lower rates for you.
Additionally, if you want to save money, you’ll need to cut any tobacco that you currently use. Being listed as a smoker on your life insurance application is going to cause your premiums to double, or even triple. If you want to save money, using tobacco is the worst thing that you can do. Quitting smoking could save you thousands of dollars on your life insurance coverage.
How to Help Improve Your Chance of Life Insurance Approval After Gastric Bypass Surgery
If you plan to apply for term life insurance after gastric bypass surgery, it is important that you do so through a firm that has access to more than just one life insurance company. This way, you are not bound to just one insurer’s underwriting standards.
We can help you find an insurer that is right for you. We work with many of the top rated life insurance companies in the marketplace today – and we are familiar with which insurers are more likely to accept various risks.
Every insurance company is different, and all of them are going to view your conditions through various medical underwriting, which means that you could receive drastically varying rates for the same amount of coverage. It’s easy to see why you should always compare the rates of dozens of companies before you pick a plan that works best for you and your family.
Let us help point you in the right direction. You can start by comparing premium quotes with top insurers by submitting the form on this page. We also know that you may have additional questions or concerns regarding coverage, price, or underwriting. If so, feel free to contact us directly at 888-229-7522 and we will be happy to help.
Life insurance is the most important investment that you’ll ever make for your loved ones. It’s one of the only ways that you can ensure that your family will be taken care of, regardless of what happens to you. Don’t wait any longer to get the protection that your loved ones deserve. Even if you’ve been told that you won’t be able to get coverage because of your gastric bypass surgery, don’t believe, there are several affordable options for you.