Your Family History Makes a Great Impact on your Life Insurance Rates

Planning to have your first life insurance to protect the future of your loved ones? That sounds great, but do you think you know enough about the life insurance policy guidelines? If you do, then did you know that your family history can have a huge impact on your life insurance policy rates? The family history of cancer, diabetes, and heart disease can have a negative effect on the cost of your policy.

So if your life insurance policy company asks you about the smoking or drinking habits of your parents, then don’t get shocked as your insurer will assume there is a greater chance you will die during the term of your life policy. This makes the insurance policy a bit costlier for you. You may want to hide the truth, but it can be a wrong choice as the insurance company may ask you to take a medical examination before you can be insured. When buying larger amounts of coverage, a medical exam is typically mandatory. Make sure you don’t temper with medical reports as if it appears after you die, the policy may not pay out. It is better to disclose everything to the insurance provider when you are purchasing the policy to protect the future of your loved ones.

Due to your family’s medical history, you may have a higher premium, but it is better than leaving your family in trouble after you die. If you are adopted, make sure you let the company know about your adoption. Before you apply for life insurance, it is important that you know everything about the terms and conditions.  You can do this by visiting Health IQ.com, which will give you additional information about health insurance and you can find engaging quizzes that are available to increase your knowledge.