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What your health means for life insurance companies

Do you wonder what excellent, good and average really means? You are in the right place

The old joke is that in Lake Wobegon, every child is above average. (As you know is not possible. But you understand it.)

Well, in reality, no potential Haven Life policyholder is below average. This is because when you receive a quote on life insurance, you can state your health as excellent, good or average, and your response will be an important factor in the premium you are quoted.

But what does that mean in practical terms? for your life insurance health classification? How should you rate your own health when buying life insurance to get the right quote? We asked Paya Schlass, who works with customer success, and Kristen Wilson, an insurer, about how quality of life health classes are defined, and some of their answers may surprise you.

In this article:

What does the average really mean? mean?

The first thing you need to understand when rating your own health for a quote on life insurance is that it is relative. You rate it in relation to the health of other Americans – and in general, Americans are not very healthy. (As a share of GDP, America spends about twice as much on health care as other rich countries, but the population has a lower life expectancy and much higher obesity and chronic disease.)

Because the term refers to a domestic average, not a global one, says Kristen, "" Average "is someone who is probably overweight, maybe they know they have high blood pressure, high cholesterol – these are things that are very common for our population. Some well-controlled diabetes would also be considered an "average" health classification – these are very normal things we see. “If that sounds familiar, you should probably research prices for someone of average health to get the most accurate quote for your life insurance policy.

And that's what you want, to avoid stickers. Which reminds us: In a new survey, 70% of Haven Life applicants said that their final offer either matched or was cheaper than their quote. Understanding your own health to determine the most accurate life insurance health assessment is a good first step in finding the best course for you.

What is considered good health?

Paya says: "Someone in the" good "category is quite healthy but just a little below the top. Maybe they are a little overweight, maybe the blood pressure is good but the cholesterol can be better. They may only have one or two things going on, while for average health, there would be more factors – an "average" person could have three things wrong instead of one or two, "and these things would be more problematic.

In other words, a life insurance provider's idea of ​​"good" health is roughly in line with an ordinary person's idea of ​​the concept. So if it sounds like you, proceed accordingly when deciding your life insurance rating. (And note: Most Haven Life policyholders are eligible for Haven Life Plus, a series of discounted and free services that help you live a happier and fuller life. All this being said, getting life insurance can also help you get into it. excellent health category.)

Who's in excellent health?

"" Excellent "health in life insurance terms is not that far from" good ", says Paya. Those with" excellent "health are" people who exercise every day, in excellent shape, who watch what they eat. Someone who is a little more normal would be "good". If you treat health almost like a hobby, choose "excellent" when you get a quote from Haven Life.

A quick note about this: If you are in good health, and think you can get excellent health in a little while and effort, good on you.But do not wait for it to happen to apply for life insurance.In the end, your age is a decisive factor in determining your price range, and you will never be younger than you are today.In addition, something can happen when you delay your application, so that you lack life insurance at a time when your family needs it most.

What about bad health?

No life insurance provider has a health category called "horrible" because it would not be very customer friendly.But what happens to people whose health is lower than what a life insurance agency like Haven Life Class as "average"? Kristen says: "Below the 'average' would be uncontrolled diabetes, uncontrolled high blood pressure – everything uncontrolled, really."

So how do you define an uncontrolled state? "This means that you still follow up with your doctor to find out which medicines work for you, maybe change medicines quite often or if the medicine does not work for you. Usually it is people who are in the middle of the work. Or maybe the customer for currently undergoing treatment for chronic health conditions such as cancer or bowel disease that require multiple follow-ups per year. ”

Entrepreneurs need to see stability in order to make a quote.” Every time you have a brand new diagnosis or are being diagnosed with something you need "We usually wait six months to a year so we can really see if we have a definitive diagnosis of what your health conditions are and if there is a treatment plan that works well," Kristen says. is not insurable now due to uncertainty, but can be covered in six to 12 months.

If you think your health is below "average" and you are applying online, you should choose it "g average ”health class and answer all subsequent questions accurately. Most Haven Life applicants fall under the regular course classes, but if not, after completing an exam and an insurer reviewing their case, they will receive a final course. If anyone wants more information about Haven Life's below average, they can contact the customer's success team at 855-744-2836, or email help@havenlife.com.

What to Expect When Applying

Paya Says: "When you visit the Haven Life website and want a quote, we show the three best health categories" – the ones described above – "which correlate to the three best class classes, which are "extremely preferred", select the desired "and" standard. "We also show tobacco interest rates," because tobacco users will pay more for life insurance than non-users.

To make it easier to assess your own health When you apply for life insurance, "on the quote page where there is an option for you to choose your health category, there is a small description of each. It's quite a high level, but it gives people an insight into how to categorize themselves. “Between the information in this article and the descriptions on the website, you should be able to make an informed choice about how to rate your health.

Our Editorial Policy

Haven Life is a customer-centric life insurance company supported and wholly owned by the Massachusetts Mutual Life Insurance Company (MassMutual). We believe that navigation decisions about life insurance, your personal finances and overall well-being can be refreshingly easy. ). We believe that navigation decisions about life insurance, your personal finances and overall well-being can be refreshingly easy.

Our content is created for educational purposes only. Haven Life does not support the companies, products, services or strategies discussed here, but we hope they can make your life a little less difficult if they suit your situation.

Haven Life is not authorized to provide tax, legal or investment advice. This material is not intended to provide and should not be relied upon for tax, legal or investment advice. Individuals are encouraged to consult their own taxes or attorneys.

Our information

Haven Term is a life insurance policy (DTC and ICC17DTC in certain states, including NC) issued by the Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001 and is offered exclusively through Haven Life Insurance Agency, LLC. In NY, Haven Term is DTC-NY 1017. In CA, Haven Term is DTC-CA 042017. Haven Term Simplified is a simplified life insurance policy (ICC19PCM-SI 0819 in certain states, including NC) issued by C.M. Life Insurance Companies, Enfield, CT 06082. Numbers and functions for insurance forms and riders may vary by state and may not be available in all states. Our agency's license number in California is OK71922 and in Arkansas 100139527.

MassMutual is rated by A.M. Best company as A ++ (Superior; Top category of 15). The rating is from Aril 1, 2020 and may change. MassMutual has received various ratings from other rating agencies.

Haven Life Plus (Plus) is the marketing name of the Plus Rider, which is part of the Haven Term policy and offers access to additional services and benefits free of charge or at a discount. The rider is not available in all states and is subject to change at any time. Neither Haven Life nor MassMutual are responsible for the provision of the benefits and services made available under Plus Rider, which are provided by third party providers (partners). For more information about Haven Life Plus, visit: https://havenlife.com/plus.html

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