FEMALES
Females have special considerations when it comes to their insurance planning.
Many of our clients report having pre-existing conditions by the time we meet them, so we would like to outline these conditions here for you.
Depending on the product you choose, your medical history could either present a rate change or an exclusion or both on your insurance contract.
DISABILITY INSURANCE
Disability costs for women are higher than their male counterparts. This is founded upon higher claims numbers from men, plus being disabled for longer periods of time.
Common exclusions on disability contracts stem from these 4 categories:
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Pathology and Testing
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Abnormal Pap Smears
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PCOS, Fibroids, Etc.
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Missed Mammograms and other Testing
GYNECOLOGICAL ISSUES
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Counseling among other Therapies
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Prescriptions Fills
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Changes to Treatments and Therapies
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Postpartum Treatment Plans
MENTAL HEALTH HISTORY
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Osteoporosis
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Spine Disorders
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Disorders of the Knee/Foot
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Disorders of the Shoulders
MUSCULOSKELETAL DISORDERS
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Fertility Diagnostic Testing
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Fertility Testing
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Pregnancy While Applying
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Pregnancy Complications or C-Sections
FAMILY PLANNING
Sources:
Mayo Clin Proc. • June 2005;80(6):796-802 • www.mayoclinicproceedings.com
https://www.mayoclinicproceedings.org/article/S0025-6196(11)61534-6/pdf
Council for Disability Awareness disabilitycanhappen.org
LIFE INSURANCE
Life Insurance costs are less for females for the same reasons as above, but have the opposite effect to account for mortality related risks. Since women tend to live longer, their life insurance rates are less than their male counterparts.
Common reasons a healthy female may have to pay for higher rates are due to these 4 categories below:
If you have any elevation of lab levels during underwriting and/or take any medications to currently manage your levels, you will most likely not qualify for best rates if approved for life insurance. Depending on the levels, sometimes you are eligible for an adjustment to your rate after your policy is active.
ELEVATED LAB LEVELS
If you are outside the normal ranges of height and weight during underwriting, you will most likely not qualify for best rates if approved for life insurance. Sometimes after weight loss is consistent for over 12 months, you can ask for an adjustment to the rate after placing your policy active.
ABNORMAL HEIGHT & WEIGHT
Sometimes, depending on the health history, the insurance carriers can consider you higher risk and increase your rates due to being possibly predisposed to a condition. A prescreen with an independent broker can help you with your inquiry.
FAMILY HISTORY
Often, if you currently receive treatments and/or medications for a mental health disorder, your rates can change. If you have prescription fills for a treatment but no longer take that treatment, your rates could also be affected. A prescreen with an independent broker can help you with your inquiry.
MENTAL HEALTH TREATMENTS
If you have had gestational diabetes from a previous pregnancy or have it now while pregnant, the carriers will not allow for best rates now or in the future as they consider this as a risk for diabetes to occur again at some point in your future. Applying prior to pregnancies is always recommended for this reason.
GESTATIONAL DIABETES
How Much Life Insurance Do You Need? FIND OUT
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