Is life insurance coverage an option with heart disease?

Qualifying for life insurance coverage with cardiovascular disease can be difficult, but it is certainly possible. In the US, the leading cause of death is cardiovascular disease, and many people who have been diagnosed think life insurance coverage is out of the question.

If you have heart disease, life insurance should be a priority for you if someone depends on your salary. The greater the probability that something bad will happen to you, the more coverage you should have.

How difficult will it be to get coverage?

If you smoke or have other health problems like diabetes or being overweight, it will be extremely difficult for you to get coverage. This is why it is so important that you make changes in your lifestyle that show that you are taking care of the situation and that your health problems have stabilized.

All insurance companies approach medical underwriting differently, but they all underwrite heart disease cases very closely and try to find patterns. Life insurance insurers will assume you’re not worth it if you can’t prove that your overall health is on the right track and that you’ve also adequately addressed your concerns about your medical condition(s).

Many people who have been diagnosed with cardiovascular disease followed their doctor’s instructions and made the lifestyle changes that made a standard qualification possible. Getting coverage for heart disease requires a lot of work as the application is scrutinized and will have to be purchased from several (dozens) of insurance companies. Working with an experienced, independent agent who is knowledgeable about high-risk life insurance companies will be essential. It will be more necessary than ever to compare an applicant with heart disease among more than a few life insurance companies because the result will differ from company to company.

Having your most up-to-date blood test results in your possession will help speed up the enrollment process. For a small fee, your nearby pharmacy will usually do this quickly and without a doctor’s referral. It will also be helpful to get the most up-to-date results of any tests performed by your cardiologist along with a letter explaining your current status. Having these articles ready will not only help speed up the process, but also give the subscriber a better sense of transparency.

What to expect from an insurer:

Your medical records will definitely be reviewed more carefully if you have a heart condition. Because you are more likely to have a heart attack or other life-threatening event than someone without cardiovascular disease, life insurance providers will consider you to be at higher risk. Which simply means that if anyone needs life insurance, it’s you.

If you have loved ones who depend on your income, you should take a look at the life insurance options available to you, regardless of your heart condition. In general, insurance companies tend to worry about whether or not your condition has stabilized. Low-priced term insurance is very often a possibility if you can at least show that your cardiovascular disease has stabilized.

One of the most important benefits of life insurance is that you can always commit to lifestyle modifications and purchase cheaper insurance once your health improves and trade in your older, more expensive insurance for a newer policy that has better coverage. rating due to improved health. That’s why it’s really important to be as healthy as possible right now.

Life insurance companies are going to carefully consider your health record over the last few years and longer in some cases. Insurance providers will fully review your medical history and may request even more tests/items if needed to feel comfortable with your case. Always be completely transparent with any specialist concerns, tests or documentation required by the life insurance provider. Due to the online environment we live in, there are no secrets. The truth will eventually come out and it is much better to be honest vs. resell later when a subscriber discovers information that has been left out of an app. This will probably make them feel uncomfortable and wonder what else there is that they haven’t discovered yet.

Life insurance companies will also contest or attempt not to pay a policy claim if false statements are discovered on an application, regardless of whether the policy is more than two years old. Just disclose everything up front and stay away from the nightmare of your family fighting an insurance company over a claim.

How much will it cost?

Preferential rates for anyone with a heart condition are not entirely out of the question, however they are more likely to be standard or table. Your agent must submit your application to no fewer than 20 life insurance providers to ensure you get the best rating available. The only thing that is directly under your control is whether or not you decide to start living a healthy life. If you’re not as healthy as you want or should be right now, it doesn’t mean you should wait to buy insurance. There are numerous options available for you to get insurance and make sure your family is protected now, as changes in health are usually not seen for at least 6 months. Putting your family in danger is the alternative which is obviously a bad idea.

If you’re working with an agent who only asked a couple of questions about your health and only disclosed low quotes, beware because you’ll likely be asked a lot more questions in the future and, yes, the rate will change. A good agent will ask you the hard questions up front and never sugar-coat the facts. In an effort to accurately cite a case involving heart disease, the agent must review her medical history in detail to understand what type of rating she is most likely to receive.

The best rates for life insurance with heart disease will require you to have a complete medical exam. There are actually other products available that use a guaranteed issue application that does not require a medical exam. There is no free lunch, however, anytime you’re not completing a full medical exam; expect to pay considerably more in premium.

How long will the subscription take?

If you have heart disease, plan to wait longer than usual to get term life insurance, as insurers will take a very close look at your medical history to make sure you’re not susceptible to a heart attack or other life-threatening health event in the near future. Also, be prepared for additional medical tests like EKG, carotid artery ultrasound, heart CT scans, etc. These tests, unsurprisingly, take time and getting the results is often a lengthy process.

Unfortunately, there’s no way to avoid going full medical underwriting if you have heart disease and want the best rates. Anyone who claims there is a “no medical exam” or simplified edition product that has competitive rates is not giving you accurate information. All insurance companies that offer traditional term and whole life insurance along with the best rates will require you to have a complete medical exam if you have a heart condition. There are some final expense type plans you will find that do not require medical underwriting, however they limit coverage amounts to $25,000 and the cost of insurance is extremely high. It really is much better to save your funds and make sure you have an estate plan.