Case Study #1 – Sleep Apnea
José is a 54-year-old man applying for a 15-year policy with $500,000 in coverage. He was diagnosed with sleep apnea a year ago and successfully treated it with a CPAP machine.
The life insurance company approved José for Standard Non-Tobacco with a monthly premium of $144.32.
The reason José was passed on Standard is that his sleep apnea poses a risk, even if it is well controlled.
Case Study #2 – Depression
Kimberly is a 43-year-old woman applying for a 15-year policy with $100,000 in coverage. She was diagnosed with mild depression a few months ago and recently started taking medication to manage it.
The life insurance company approved Kimberly on Preferred Non-Tobacco with a monthly premium of $1
1.46.The reason Kimberly was approved on Preferred is because her case is mild and well managed with medication, so her risk is low.
Case Study #3 – High Hemoglobin Levels
Amy is a 42-year-old woman and applied for a 20-year policy with $750,000 in coverage. Her medical exam results showed that her A1c level is 6.5% while the normal range for the hemoglobin A1c test is between 4% and 5.6%
The life insurance company approves Amy on Standard Non-Tobacco with a monthly premium of $70.61.
The reason Amy is passed at Standard is because of her high hemoglobin levels. This indicates a high risk of developing diabetes.
Case Study #4 – Construction
Chris is a 34-year-old male and applied for a 10-year policy with $1,000,000 in coverage. Chris is 5’10” and weighs 317 pounds – he is otherwise healthy.
The life insurance company approved Chris at Schedule C non-tobacco with a monthly premium of $77.33.
The reason Chris was approved at Table C is because his build puts him at a higher risk. Table C means he will have to pay a 75% increase over standard pricing. After Chris is insured, if he loses weight, he can reapply later to possibly get a better rate.
» Read more: Application for height and weight and your life insurance
Case Study #5 – Driving Record
Matthew is a 34-year-old male and applied for a 20-year policy with $500,000 in coverage. Two years ago, Matthew got a DUI. Now he rarely drinks and has had no other health or driving problems.
The life insurance company approved Matthew for Standard Plus Non-Tobacco with a monthly premium of $33.15.
The reason Matthew was approved on Standard Plus is because he is considered a low risk due to his DUI history. After Matthew was insured, he could choose to reapply after more years have passed since the DUI. Life insurance companies usually prefer that at least five years have passed to consider preferred rates.
Case Study #6 – Chewing Tobacco
Brandon is a 35-year-old male and applied for a 20-year policy with $500,000 in coverage. Brandon chews tobacco daily. Other than that, he has no bad health history and his height and weight are within the normal range.
The life insurance company approved Brandon for Standard Plus Non-Tobacco with a monthly premium of $34.00.
The reason Brandon was approved on Standard Plus is that chewing tobacco is not a healthy habit; however, some life insurance companies would have offered tobacco rates to Brandon because of this, which would have made his premiums higher. This life insurance company considers chewing tobacco an unhealthy habit, but does not consider it as risky as smoking cigarettes.
» Read more: Life insurance for users of tobacco, nicotine and marijuana
Case Study #7 – Breast Cancer
Mary is a 51-year-old woman and applied for a 10-year policy with $1,000,000 in coverage. Mary was diagnosed with stage II breast cancer nine years ago. She was treated with a lumpectomy, six weeks of radiotherapy and five years of hormone therapy. Since then, she has been cancer free and is currently taking no medications. There were no lymph nodes involved and her most recent mammogram showed normal results.
The life insurance company approved Mary for Standard Plus Non-Tobacco with a monthly premium of $106.19.
The reason Mary was approved on Standard Plus is because of her history of cancer. Although she is in remission, she is considered a low risk.
Case Study #8 – Prostate Cancer
Kenneth is a 60-year-old male and applied for a 10-year policy with $500,000 in coverage. Kenneth was diagnosed with prostate cancer seven years ago. His Gleason score was 7 (3+4). The cancer was in the organ and a robotic prostatectomy was performed. The surgical margins were clean. He received no radiation therapy, hormone therapy, or medications. His most recent Gleason score was <0.1.
The life insurance company approved Kenneth for Standard Non-Tobacco with a monthly premium of $191.35.
The reason Kenneth passed Standard is because of his health history. His Gleason score, although low now, reflected aggressive cancer growth and this history poses a risk to the carrier.
Case Study #9 – Health and Family History
Sean is a 39-year-old male and applied for a 20-year policy with $750,000 in coverage. Sean was diagnosed with ADHD when he was 37 and takes medication for it daily. He takes a second medication to control his high cholesterol. His father died at age 40 of heart disease and his mother was diagnosed with diabetes at age 38 and heart disease at age 50.
The life insurance company approved Sean on Preferred Non-Tobacco with a monthly premium of $45.60.
The reason Sean was approved on Preferred is because of the combination of his own health history and that of his family. Although his current condition is well managed, there is a risk that he will develop further health problems.
Case Study #10 – Healthy Man
Joseph is a 29-year-old male and applied for a 20-year policy with $500,000 in coverage. Joseph is healthy with no previous medical problems.
Joseph qualified for Legal & General’s (Banner Life) APPcelerate program. They approved his Preferred Plus application two days after his phone interview and did not require a medical exam. His monthly premium payments are $18.99.
» Read more: What is no medical degree life insurance? Accelerated underwriting?
Case Study #11 – Healthy Woman
Isabella is a 48-year-old woman and applied for a 30-year policy with $250,000 in coverage. Isabella is healthy with no previous medical problems.
Isabella qualified for SBLI’s accelerated program. They approved her application at Preferred Plus a day after her phone interview and did not require a medical exam. Her monthly premium payments are $43.72.
Case Study #12 – Anxiety
Kelly is a 35-year-old woman and applied for a 30-year policy with $2,000,000 in coverage. Kelly has a stressful job and was diagnosed with anxiety six years ago. She does not take any medication and has not previously had drug or alcohol abuse. A few years ago, she was in the emergency room for anxiety attacks. Her anxiety is currently under control.
The life insurance company approved Kelly on Preferred Plus with a monthly premium of $94.03.
The reason Kelly was approved for Preferred Plus is that although she has been diagnosed with anxiety, it is not severe enough to require medication for control.
Case Study #13 – Marijuana
Alex is a 25-year-old male and applied for a 30-year policy with $200,000 in coverage. Alex uses marijuana on the weekends. He has no adverse health history and is of healthy build.
The life insurance company approved Alex for Standard Plus with a monthly premium of $23.29.
The reason Alex was approved on Standard Plus is that life insurance companies are still wary of recreational marijuana use. Some life insurance companies would have given Alex a tobacco rate, which would have made his premiums more expensive.
» Calculate: Life insurance needs calculator
Diagnosed with a medical problem not listed in one of these examples? You can still apply. Quotacy will process your case and work hard to get you coverage. Get a free life insurance quote instantly today.
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