Having high cholesterol can affect your life insurance application and how much your premiums cost, but not in every case. It’s still possible to get affordable cover by doing some research and shopping around for the cheapest prices. Factors such as your specific cholesterol level, smoking status and weight will also influence your application, and insurers may ask additional questions about your high cholesterol if they need more details.

Life insurance is important for many people with high cholesterol who want to protect their families. This guide - written by award-winning life insurance broker, Reassured - is to help those who would like to understand more about their life insurance options and how to go about finding a suitable policy.

Continue reading to learn more about buying life insurance with high cholesterol and how you can find the right cover to suit your needs and circumstances…


Can I get life insurance with high cholesterol?

Yes, you can get life insurance with high cholesterol, but you’ll need to shop around for the right policy as prices may be higher and quotes will vary between life insurance companies.


Do I need life insurance?

It depends on your personal circumstances. Most people take out life insurance when they get married, have children or buy a home. It provides financial protection for your family should you pass away unexpectedly.

A policy can help to cover various costs such as:

-          Mortgage or rent

-          Utility bills and unpaid debts

-          Childcare or school fees

-          Funeral costs.


Types of life insurance

There are different types of life insurance that can be taken out to cover varying financial commitments and other expenses.

The most common types are:

Term life insurance – also known as ‘family life insurance’. This type of policy is the most popular, and typically the cheapest. It will provide a lump sum pay out to your loved ones if you pass away during a set period (such as 20 or 30 years). It’s suitable for covering a mortgage as your policy term can end when your mortgage is paid off. 

Family income benefit – this is similar to term life insurance, but instead of paying out in one lump sum, it will provide tax-free monthly payments if you pass away during the policy term. It may be suitable for families who may struggle with managing a large cash pay out.

Whole of life insurance – as the name suggests, whole of life insurance lasts for the rest of your life and guarantees to pay out a lump sum when you pass way. The money can help with funeral costs or paying an inheritance tax bill. It’s more expensive than other policy types, but can offer lifelong peace of mind.

Over 50s life insurance – this type of policy is different to other policies as you don’t need to answer any medical questions during the application process. Acceptance is guaranteed to applicants over 50 (up to the age of 80 or 85 depending on the insurer). A lump sum pay out is guaranteed when you pass away, and the money could be used to help pay for your funeral.


How much is life insurance for people with high cholesterol?

It’s possible that you’ll be charged a higher premium if you have a cholesterol reading over 6. Premiums will also be determined by the following factors:

-          Age

-          Health (other pre-existing medical conditions)

-          Family medical history

-          Weight (BMI)

-          Smoking status

-          Alcohol intake

-          Occupation & hobbies

-          Policy details (policy type, cover amount & length of cover).

Generally, if you’re leading a healthy lifestyle (not smoking, exercising regularly etc), you’re in good health and your condition is well-managed, then you may be offered life insurance without increased premiums.

As mentioned, it’s important to compare lots of quotes from different insurers to find the best price, as every insurer will assess your application differently.


Applying for life insurance with high cholesterol

It’s good to be prepared when applying for life insurance with high cholesterol, so that you can arrange coverage quickly and easily.

Insurers will want to know more about your medical condition, such as:

-          Date of diagnosis

-          Most recent cholesterol reading

-          Medication and treatment

-          Future appointment or treatment

-          Other related health conditions (such as kidney disease, diabetes or high blood pressure).

Full disclosure is essential when providing this information, to make sure that your application is accurate and your policy is valid. Non-disclosure can prevent a future pay out.


What if I’m declined?

If you’re declined by one life insurance company, then you could have other options depending on your personal circumstances. For example, you could:

-          Use a life insurance broker - A broker will listen to your requirements and taken into account your personal circumstances to find suitable policies from insurers most likely to accept your application

-          Apply with a specialist life insurance company - Specialist insurers are able to provide cover to applicants with serious or multiple pre-existing medical conditions. They don’t usually offer policies direct to customers, so you’d have to go through a broker.

-          Take out over 50s life insurance - If you’re over 50 and can’t get standard life insurance due to having high cholesterol, then you could take out an over 50s policy. You don’t have to provide any medical information and acceptance is guaranteed.

It’s unlikely that you’ll be declined life insurance due to having high cholesterol, however if you have other medical conditions, smoke or are overweight (when combined with high cholesterol) then this could affect your eligibility.


Shopping for life insurance with high cholesterol

It’s not always easy sorting out things like life insurance, particularly if you have a medical condition, but hopefully this guide has helped you understand more about the process.

Choosing the right policy and getting a good deal is important so that you can afford the monthly payments for the duration of the policy, as well as make sure that your family have adequate financial protection should anything happen to you.

As mentioned, using an experienced life insurance broker can help you navigate the market and find policies that are more lenient towards applicants with high cholesterol. They can also help you fill in the application form and answer any questions you may have to ensure that you’re confident with your purchase. 

High cholesterol life insurance brokers

Reassured Ltd

Website : reassured.co.uk

E-mail : [email protected]

Telephone : 0808 239 3869