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Do Allergies Affect the Life Insurance Process?

Allergies are common health problems that cause the body to react to certain foods, substances, chemicals or even insect bites. Life insurance is quite a personal buy, and your health plays a major role in deciding your premiums. While major health problems and illnesses are investigated thoroughly by underwriters, what about allergies? Will they affect your premiums? Let’s find out.

How severe is your allergic reaction?

Your premiums are usually not drastically affected by an allergy. Underwriters look at what the allergy is, and how severe the reaction is. If your allergy causes a minor reaction such as a bout of sneezing or a rash, it is generally ignored. However, if it causes a life-threatening reaction like Anaphylaxis your premiums are sure to be higher.

Should you divulge all your allergies to the life insurance company?

Many life insurance companies don’t ask questions about allergies, except in the case of serious allergies like asthma. However, even if you are not asked directly, you should be upfront and reveal the medications you have taken for allergic treatments especially if an allergy has caused you to seek emergency care, or use epi-pen (epinephrine).

If you end up dying from an allergic reaction, and if your medical records show that you have had the same allergy reactions even before you bought your life insurance policy, the life insurance company can deny the death benefit to your family.

The wise thing to do is to divulge all your allergic reactions. The underwriters only scrutinize the ones with severe reactions that require emergency treatment. It is likely that mild allergic reactions will be totally ignored during the underwriting process. Unless an allergy is life threatening it won’t cause a significant increase in your premiums.

Qualify for cheaper premiums in spite of serious allergies

The underwriting process differs for different life insurance carriers. While some companies may charge higher premiums for those with certain allergies or allergic reactions, there are companies out there that may look more favorably on your case. It is difficult to identify these companies on your own, or even through a broker because underwriting guidelines change every few months.

Online life insurance agencies are perhaps the only way to get in touch with such companies. Why? Because they have hundreds of life insurance companies on their database, and changes in these companies’ guidelines are reflected in real-time, in the quotes they give you. When you access a life insurance agency websites, you are asked to divulge some information about yourself. Try to answer the questions about your allergies as honestly as possible, because the quotes are customized to your answers.

That’s not all. You will also be provided with comparison charts for the quotes you receive and complete financial information on the life insurance companies that are associated with those quotes, so that you can make a well-informed decision.

Life insurance is meant to protect your loved ones

Admitting that you have a certain allergy can affect your life insurance rate, but chances are the increase won’t be very significant. On the other hand, not divulging allergy-related information can cause your loved ones to suffer in the unfortunate event that you died from an allergy.

Don’t be afraid of buying a permanent or term life insurance policy if you have allergies. Even if you are paying slightly higher premiums because you have a life-threatening allergy, some insurance is better than none at all. It is your loved ones who matter the most, and this is the right way to protect them.

About Author

About AccuQuote:
AccuQuote is a leader in providing term life quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers.

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