Average Cost of Life Insurance For Heart Patients
If you're a man or woman that recently suffered from a heart attack or other heart problem such as a stroke or myocardial infarction, the good news is, you still can get life insurance coverage.
There are some insurance underwriters who will see your case more favorably than others and will be able to offer you affordable rates. Finding those underwriters takes some shopping around on your part.
Typical Life Insurance Amounts For People With Heart Problems:
Heart Disease By The Numbers
Heart disease affects approximately 12 percent of the North American population. What's more, according to the Center for Disease Control and Prevention (CDC) , statistics show that it is the number one killer disease within the nation.
Statistics from the American Heart Association show that 5.7 million men and women in North America suffer from heart failure every year.
Risk To Insurance Companies
Nevertheless, with continual medical improvements, more and more heart patients and people with heart problems have faster recovery times and survive far longer than in previous years. However, unsurprisingly insurance companies still view heart patients as a high risk category.
Thus, insurance rates for those who have previously suffered from a heart attack or other severe heart condition do continue to reflect the severity of the disease. "Preferred" premium rates (usually affordable) may not be possible, but "standard" premium rates are certainly obtainable. This means you won't be getting the most affordable premiums, but, at least, you'll get coverage.
Providing that you have undergone treatment for your heart condition and your particular condition is not regarded as being too severe (i.e. congestive heart failure) then you should be able to find affordable life insurance. Regardless of anything, should you have a family, you really ought to protect your family’s future financial needs first.
There's always the choice of going with guaranteed issue policy - these are more costly and don't offer a large coverage amount, but for some people, they may be sufficient.
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Common Questions About Getting Life Insurance With a Heart Condition
Can I Get Life Insurance With A Heart Condition?
You've probably heard that you cannot get life insurance after having a heart attack or a heart disease diagnosis. This is not true. You still can get coverage, even with a heart condition. But obviously is not as easy and premiums will be higher than an healthy individual.
Can I Get Life Insurance With Congestive Heart Failure?
This is a difficult question to answer because the condition is considered a serious medical condition that most likely will lead to reduced life expectancy. You definitely need to speak with a life insurance specialist to find out if it is possible to get coverage for your specific situation.
How much will life insurance cost with heart disease?
This depends on many factors, like your age, your actual heart condition, your prognosis, your current treatment and medication, plus many other factors. It's best to speak with a life insurance specialist and explain your particular situation. Keep in mind that getting cheap rates may no longer be possible.
What Do I Do If My Life Insurance Coverage Is Denied?
You could always try a guaranteed acceptance life insurance policy, also called a no-medical exam policy.
This type of policy will cost more and will not offer a high death benefit.
What's the best way to obtain affordable life insurance rates after suffering from a heart attack or other chronic heart condition?
- Continue with the treatment that your doctor prescribes. Increase your level of exercise and focus on improving your diet.
- Keep your blood pressure and cholesterol at acceptable levels.
- Document your lifestyle improvements. In order to find the most affordable life insurance policy, you stand a better chance if you provide documentation about your amended lifestyle.
- If you've previously suffered from a heart attack, it's a sensible approach to wait for a while before applying for life insurance. The reason being is that if you can demonstrate an improvement in your health (due to your lifestyle changes such as regular exercise and a healthy diet) then the less chance there is of a further heart attack and thereby the insurance premium should be priced more competitively.
- After making the life insurance purchase, allow a year or two to pass then ask the company to review your health status. Be sure that your medical record clearly states any improvements in your health such as weight reduction, reduced cholesterol levels, blood pressure changes, etc. Insurance underwriters are likely to provide you with a more attractive rate if they see that you are working closely with your physician in order to improve your overall health.
- Do be sure to shop around. Life insurance being what it is, is a very competitive industry. The more you shop around, the better chance you will have to find the most appropriate life insurance policy to fit your needs at the best price available.