For American Heart Month, we are taking a closer look at premium rates for both males and females with heart conditions. Heart disease is the number one cause of death in the U.S. and, according to Policygenius data, those with a history of specific heart conditions have higher monthly premiums than applicants with no serious medical conditions. What's more, these pricing disparities increase with age.
A review of quotes for $1 million policies from February 2021 shows that men see a bigger price difference as they get older. On average, a 25-year-old male with a heart condition will pay $63.24 more a month than a healthy 25-year-old for the same amount of coverage. Meanwhile, a 55-year-old male with a heart condition will pay $311.95 more than his healthy counterpart.
Any applicant, whether healthy or having a medical condition like heart disease, should shop around to find cost-effective coverage for their specific health profile.
The chart below shows average monthly premium prices for a 20-year term life insurance policy for individuals with coronary artery disease (CAD) and a history of high blood pressure (where current readings are 150/100 mm Hg) that is managed via daily medication, with a health classification of either Standard or Preferred (classifications vary by insurer); quotes are based on the Policygenius Life Insurance Price Index Methodology.
No major changes were reported from January to February for most applicants without medical conditions, though some older applicants saw premium increases. For example, 55-year-old female smokers purchasing a $1 million policy saw the biggest jump of $23.21 in monthly premium rates.
The chart below shows average monthly premium prices for a 20-year term life insurance policy for non-smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index Methodology.
The chart below shows average monthly premium prices for a 20-year term life insurance policy for smokers in a Preferred health classification; quotes are based on the Policygenius Life Insurance Price Index Methodology.
How our index works
Life insurance prices are primarily based on life expectancy; taking into account an applicant’s age, health, hobbies, and medical history. The riskier you are to insure or the shorter your life expectancy, the higher your rates will be.
Prices are also affected by the length of a policy and the amount of coverage someone is looking to purchase. A longer policy term or higher coverage amount might increase monthly or annual premiums. Policygenius generally recommends people buy life insurance 10 to 15 times their individual income with a term long enough to get them to retirement age. Since there are a lot of variables involved, we specialize in helping consumers get the right policy to fit their individual needs.
Policygenius is the nation’s leading online insurance marketplace, with headquarters in New York City and Durham, North Carolina. We’ve helped more than 30 million people shop for all types of insurance like they shop for everything else — online — and have placed over $100 billion in coverage. At Policygenius, shoppers can compare life insurance companies side-by-side in one place. We provide free quotes from the nation’s top life insurers. And, once someone formally submits an application, our licensed experts walk them through every step of the process.
Find your best life insurance prices today.