Your health condition is paramount in securing affordable coverage. The first major item is whether you smoke or not. If you do smoke, what tobacco product are you consuming? Cigarette smoking has the greatest negative impact in tobacco use because of the mortality impact. Snuff, pipe, cigar and Nicorette has less impact and depending upon the insurance company little to no impact on pricing. Shockingly, there’s even a health classification for preferred smokers, unheard of twenty years. That’s why you have to shop multiple carriers to secure the best deal.
The pricing for non-smokers is now parsed into five non-rated categories: Super-Preferred, Preferred Plus, Preferred, Standard Plus and Standard. The difference in pricing can be significant, so your first step in saving money is preparing for an insurance exam, most notably a blood and urine analysis. Your height and weight can also have a pricing impact, so drink plenty of water, stay on a healthy diet and exercise a good thirty days before the exam date. Keep in mind that most insurance companies will order your health records, and prescriptions, and review the Medical Information Bureau for any “red flags.”
If you have medical impairments like cancer, diabetes or heart issues; you may be surprised at the underwriting advances insurance companies have factored into their health classifications. Many of the major insurance companies have “table shaving” and “lifestyle credit” programs that may reduce your premiums.
The important aspect in shopping around for the best deal is to find out which companies are benevolent with certain diseases. There is a major life insurance company that has a predisposition against diabetes, so that would be one company to avoid if you were diabetic.
There are independent brokerage agencies that are agnostic in their approach to underwriting and will shop your case for the best deal. For that to happen you need a client centric independent agent that has a relationship to an insurance brokerage house that is recognized for it’s “packaging” of medical information to present your case in the best possible light.