The short answer is yes, however a life insurance company will want to know a little bit more about your condition, so be prepared to answer some additional questions. If you are thinking of applying for life insurance and suffer from or have previously suffered from high cholesterol, make sure you read this article in full before you make an application as it can save you both time and money.
In this article we tell you everything you need to know, including the questions the insurance companies will ask you about your raised cholesterol, which insurance companies are likely to offer the best cover and also the cheapest way to apply for life insurance if you are or have previously suffered from high cholesterol.
If you already know your stuff and simply want to know the cheapest way to buy life cover, jump to 'Which is the best life insurance company if I have high cholesterol?'
What questions will a life insurance company ask about my high cholesterol
A life insurance company will often ask the following questions relating to raised cholesterol:
- When were you first diagnosed with high cholesterol?
- What are your latest readings?
- Are there any other associated risk factors? Insurance companies will ask you whether you have suffered from other conditions such as high blood pressure or Angina.
- Are you on (or have you been on) any medication? If so, what medication were you taking and for how long?
A cholesterol reading of 6 or under would normally be accepted at standard rates by most insurers (no increase to your originally quoted premium), so long as it is well controlled and there are no additional factors, explained below. If your cholesterol readings are 6 or under and it is well managed, you should go with the company that provides the cheapest quote. Check out our article 'Types of life insurance explained' which explains how to guarantee the cheapest life insurance quotes, including how to get £50 cashback.
High Cholesterol - Additional factors that may cause an increase in your life insurance premiums
Below we have listed the factors relating to high cholesterol that may contribute to an increase being applied to your life insurance application.
- 2 or more different types of medication
- Increases or changes in the medication you take
- A cholesterol reading of higher than 6
- A high height/weight ratio. An insurance company uses Body Mass Index (BMI) to measure your height/weight ratio. A score of under 30 is generally considered to be fine.
- Family history of raised cholesterol
If you suffer from high cholesterol and are applying (or thinking of applying) for life insurance, make sure you have a recent reading (within the last 12 months) so that your application can be assessed without the need for additional medical evidence.
How does high cholesterol impact life insurance premiums?
There are four possible outcomes and they are as follows:
- You will be accepted with no increase applied to your premiums
- You will be accepted with an increase applied to your premiums (referred to as a rating)
- You will be postponed
- You will be declined
We have given four examples in our table below which could lead to each of the possible outcomes:
Based on a 35-year-old non-smoker applying for £200,000 level term assurance
|Diagnosis date||Medication||Associated risks?||Most recent reading||Last checked||Under Review?||Decision||Premium|
|2 years ago||None||None||5.5||Within last 3 months||No longer under consultation||No Increase applied||£11.70|
|2 years ago||Yes||None||7.5||Within last 3 months||Every 6 months||Increase applied||£16.30|
|3 years ago||Yes||None||7.5||Within last 3 months||Awaiting investigations||Postpone||N/A|
|3 years ago||Yes||Angina||8.5||Over 12 months ago||Awaiting investigations||Postpone/Decline||N/A|
Will a life insurance company speak to my doctor about my high cholesterol?
It is possible that a life insurance company will write to your GP, however it is not always the case. It would likely depend on the amount of information you can provide about your condition. If you are able to give clear information such as dates and types of medication then a life insurance company can often make a decision purely from the information you provide.
Can I get life insurance if I take medication for high cholesterol?
Yes, as our table above shows, you can get life insurance if you take medication for raised cholesterol. The underwriting process can vary depending on which insurer you apply through and so we would always recommend that you speak to an independent specialist. Our section 'Which is the best life insurance company if I have high cholesterol?' explains more
Familial Hypercholesterolemia is a genetic disorder where high cholesterol can run in the family - some insurance companies will look at it quite unfavourably, increasing premiums even if your cholesterol is well controlled. LV= however will not increase the premiums if your latest readings are normal and they will accept your application without the need to write to your doctor.
Can I get life insurance if I have previously been declined for high cholesterol?
Yes. Just because you have been declined for high cholesterol by one insurer, it does not mean to say that another insurer would do the same. Life insurance is a competitive market and as each insurer has its own set underwriting criteria, it is likely that you will be accepted elsewhere. The key is knowing which insurer is best based on your own personal circumstances, something an independent specialist can do on your behalf. We have personally vetted the services of an independent broker that specialises in arranging life insurance for those that have suffered conditions such as high cholesterol. The next section explains more about applying for life insurance using an independent specialist.
Which is the best life insurance company if I have high cholesterol?
Every life insurance company has a slightly different underwriting criteria and so not every insurer will treat you the same. I have worked in the life insurance industry for over 20 years and have seen many examples where a person has been declined insurance with one insurer but has been offered cover elsewhere. The key is to understand which insurer is the best fit for your own personal circumstances and the best way to find that out is to speak to an independent specialist who, having asked the right questions, will have the experience and knowledge to put you in touch with the best life insurance company based on your answers.
Comparison sites and online calculators are not sophisticated enough to understand the complexity of medical conditions such as high cholesterol. They do not go into the level of detail that is required to get an accurate quote and may result in you applying through an insurer that will significantly increase your premiums or even worse, decline your application. We have personally vetted the services of one of the UK's leading insurance broker's, which specialises in finding the most suitable cover for those with medical conditions such as high cholesterol. An independent specialist will even be able to help with the application process as they can chase the insurer on your behalf, speak to the doctor's surgery to chase up medical evidence (if necessary) and even help to put your policy into trust.
To speak to an adviser, with no obligation to take things further, just fill in the form via the above link. The firm employs strong ethics and will only ever offer a policy if it is the best policy to suit your needs. If they are unable to offer a suitable policy or are unable to save you money on your current policy, they will simply recommend that you stick with what you have.
Can I get critical illness insurance if I have high cholesterol?
The simple answer is yes, but it will likely depend on a number of factors such as the severity of your condition, whether you take any medication and if you have any family history of high cholesterol. We would recommend that you speak to an independent specialist who can use their extensive knowledge to ask the right questions and approach the most suitable insurance company based on the answers you give.
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