When applying for disability insurance, you must undergo a medical underwriting process which requires you to disclose your medical history and to take a paramedical exam (blood and urine).
How does high cholesterol effect rates for disability insurance.
Typically, high cholesterol does not have a great impact on disability insurance rates unless it is very significant. Even if you are taking cholesterol medication, your rate probably won’t increase. They do in fact check for cholesterol during your paramedical exam.
This is very different from life insurance rates where your rate is determined by classifying you in a health status. These include super preferred, preferred, select, standard and sub standard ratings. High cholesterol will almost always knock you out of the super preferred category.
Disability insurance does not categorize the same way as life insurance. Either you qualify or you don’t. If you have significant health issues or a pre-existing condition, they may exclude a condition or add a rating such as an additional 25% charge on the policy.
For more information, contact the Set for Life Insurance office directly.