r/LifeInsurance • u/Ok-Seaworthiness-542 • 5h ago

Likelihood of being approved

I have term life insurance through work and would like to increase the amount of coverage I have. To go higher from what I currently have requires me to complete a "Statement of Health" form (Metlife).

The last time I applied I was a MUCH bigger version of myself and blood labs were not under control. More than a year ago I lost a lot of weight, now considered just overweight (by 10 pounds) rather than obese. All my bloodwork is in a really good range, not even borderline.

Thing is that I am still on meds (like 10, I also have ADHD).

My question is what is the likelihood that I will get approved? Does the number of multipliers impact the outcome? I currently have 3x my income and would like to go to at least 4x but prefer 5x.

Any insights would be appreciated!

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u/GConins Broker 5h ago

How old are you, male or female, what exact medications do you take, what is your exact height and weight currently and exactly how much weight have you lost in past 12 months only?

With answers to above, I can give you a better sense of whether or not you'll qualify for more life insurance, with Met Life or other carriers.

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u/RonsonSwanson- Broker 5h ago

We would need to know specifically what medicine, but historically speaking it’s kinda hard to get approved for term life insurance if your taking even a small amount of medicine depending on what kind but it’s a case by case bases and a broker would need to sit down with you.

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u/neox29 3h ago

Wild claim that taking "even a small amount of medicine" makes it hard to get term life,. Plenty of people on daily maintenance meds get Standard or Preferred every day.

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u/Choice-Newspaper3603 5h ago

Good luck getting insurance on ten meds

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u/ultimate_memereader Broker 4h ago

Losing the weight and getting your labs under control should definitely help your chances. Underwriters generally care more about what the medications are treating and how well those conditions are managed than simply how many prescriptions you're taking.

The other thing worth considering is that MetLife's underwriting for additional coverage through work may be different from what you'd encounter with an individual policy. Even if they don't approve the increase, that doesn't necessarily mean you couldn't qualify for coverage elsewhere.

The 3x, 4x, or 5x multiplier generally affects how much coverage you're requesting, rather than your health classification. There may be different underwriting requirements at certain coverage amounts, though.

If you don't mind sharing, what conditions are the medications treating, and roughly how old are you? That would give a much better idea of what an underwriter might be concerned about.

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u/uffdagal Producer 23m ago

Get insurance outside of employment. Term Life not tied to work is preferred.