Getting Approved for Life Insurance with a Heart Condition

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Published: 19th November 2016
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Obtaining life insurance coverage with Heart Disease might be tough, yet it is certainly not impossible. Many survivors of a cardiac event or those that suffer from cardiovascular disease aren't aware of the life insurance possibilities that are available to them.
If you have cardiovascular disease, life insurance ought to be a top priority for you if anyone depends upon your wages. The greater the likelihood that something bad is going to happen to you, the more you really need the coverage.

What if I Have Other Health Issues?

If you smoke or have other health conditions like diabetes or you are overweight, it will likely be extremely difficult for you to get coverage. Following doctor's orders and making lifestyle changes is extremely important considering it will show you are keen on improving your health status and stabilizing your high risk condition.

Can I get a decent rating?

No two life insurance companies use the same underwriting guidelines, however all insurance companies will review your medical records and exam results very closely if you've got a heart condition. Whenever they cannot easily see a pattern of your own health improving, they basically will come to the conclusion that ultimately you are not worth the trouble because there is a pretty good chance an event involving your heart is imminent.

On the contrary, we've seen many cases where people who were diagnosed with heart disease followed their doctor's orders and made the lifestyle changes that made a standard rating possible. Getting coverage with a heart condition requires a large amount of work as the application is scrutinized and is going to need to be shopped to several (dozens) of insurance providers. Working with an independent, experienced agent that is familiar with high-risk life insurance companies with be essential.

What can you do to help the process?

Sending your application to a number of life insurance companies will be part of the process to make sure you are getting the best protection accessible. Having your most recent blood work results in hand will aid in expediting the underwriting process. This can now be completed at most major chain pharmacies (CVS and Walgreens) for a small fee and it doesn't become a part of your medical history. Additionally, obtain recent workup results from your cardiologist along with letters of clarification your agent asks you to get from your doctor. Having these items ready won't only assist in speeding up the process, but will also give an underwriter a better feeling of transparency.

What to anticipate from an underwriter:

You can count on an underwriter to research your medical records very intently if you have heart disease. You will be looked at as a greater risk by a life insurance provider because there's a larger likelihood of a cardiac event versus a person who does not have a heart condition. All of this only means you need life insurance that much more.

Although you have heart disease, you should not put aside life insurance coverage entirely. There are many options available that you ought to look into, particularly if there are loved ones whom rely on your wages. Generally, insurance companies will focus on if your cardiovascular disease has been stabilized. If you're able to at least explain your heart condition as being steady you typically can acquire at least some type of low-priced term life protection.
Life insurance affords flexibility as you can always make lifestyle alterations and acquire far more affordable coverage once your health improves and replace the older more expensive insurance. Getting healthy straightaway really needs to be your main concern if you have a heart condition and need life insurance coverage.

Insurance companies will meticulously look at your medical background going back several months or years depending upon your condition. They may request more tests/items. Be completely transparent with any questions, tests, or specialists reports the life insurance provider requests. Due to the web, there are no more secrets. The truth will eventually get out and it's far better to be up front vs. back peddling afterward when an underwriter uncovers information that was left off an application. This tends to raise more questions than answers and will be cause for suspicion.

Not being forthcoming on an application can defeat the entire objective of trying to get life insurance coverage as the life insurance company may fight paying an insurance claim due to the application not being accurate. So, you get the point; disclose everything at the outset and the process will be a lot smoother for you.

Can I afford life insurance with a heart condition?

Preferred rates for anyone with heart disease is not totally out of question; however it's more likely they're going to be standard or table rated. If your agent is not shopping your case to several dozen life insurance providers, they're doing you a disservice as every company has different underwriting guidelines. The most beneficial thing you can do to help yourself is start living healthier. If you happen to be less healthy as you want to be or should be now doesn't mean you should wait to obtain insurance. There are numerous choices available to you for you to get insurance and be sure your family is protected now as any changes in health typically are not considered for at least six months. Putting your family on the line is obviously not the best course of action.

If you're engaging an agent who only asked a couple of questions concerning your health and revealed only "lowball quotes" beware because many more questions will be asked eventually and, yes, the price will get worse. A good agent will advise you upfront and never sugarcoat the facts. So they can accurately quote a case involving heart disease, the agent must always review your medical history in great detail to gather an understanding of what sort of rating you will receive.

The best rates for life insurance with heart disease will require you to complete a full medical exam. There are other products available which use a guaranteed issue application that don't necessitate a medical exam. However there is no free lunch, anytime you aren't completing a medical exam; expect to pay significantly more in premium.

Will it take a while to actually get the coverage?

If you've got heart disease, plan on waiting longer than normal to obtain term life insurance protection as underwriters will look very closely at your medical history to ensure that you won't be susceptible to heart attack or another potentially fatal health event in the near future. Also, be prepared to do additional medical testing like an EKG, carotid artery ultrasound, CT heart scans, etc. These tests needless to say take some time and getting the end results can be a lengthy process.

Unfortunately there is just no way around full medical underwriting with a heart condition. Anyone who tries to inform you about a no medical exam or simplified issue policy readily available for you at the best rates is not giving you accurate information. All insurance companies offering traditional term and whole life insurance protection will ask for a complete medical exam if you have heart disease. There are a few final expense type plans to be found that don't require medical underwriting, however they cap coverage amounts at $25,000 and of course the price of insurance is crazy high. You are a lot better off saving your money and making sure you have an estate plan prepared.

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