How Your Family’s Medical History Affects Your Life Insurance Rates
How Your Family’s Medical History Affects Your Life Insurance Rates
There is a major trend for Life Insurance Companies to consider “family medical history” when deciding what rate class an applicant should be offered. Currently they look at the family history of immediate family members. Immediate family members mean parents and siblings. While this may make sense from a statistical standpoint, environmental factors play a major role in many diseases. In many cases a healthy person who has a family member with diabetes, coronary artery disease, stroke or cancer will be charged more than double for life insurance.
The diseases …