Some medical conditions can render you unable to qualify for life insurance. Typically, underwriters ask detailed questions concerning past or current heart issues and other life threatening medical problems. However, if you are suffering from any kind of heart condition, or had suffered heart problem in the past, this does not mean you can’t get life insurance cover.
This only means that you will find it more difficult to get life insurance or may be restricted depending on the provider you choose. In addition, you will most likely be asked to pay more for your coverage because you pose a higher risk to the insurer as opposed to people who are healthy with no pre-existing life threatening conditions.
However, it is important to shop around and compare various providers to get a policy that suits your budget without compromising the service quality.
What underwriters are looking for in patients with heart conditions?
While insurance companies can offer life insurance cover to people who have heart attacks, they actually underwrite them in a different way compared to the people who have not had any: insurers are more interested in the conditions surrounding your hear problems.
The first thing they will consider is either the duration that has passed since you had a heart attack, or any heart related surgery. Of course, the shorter the timeframe, the more likely the underwriter will approve your policy, and at a more favourable premium.
Another significant factor is the number of heart related activities. For instance, if you have had just a single heart attack, you will receive a better rate than when you had multiple attacks.
Insurers normally pay close attention to medical reports and cardiac testing reports to as latest as your last episode. It will work to your advantage if you offer the requested information as fast as possible. In fact, any positive information coming from these reports and tests will typically work in your favor.
One thing that won’t be in your control is heredity. Insurers are often interested to know more about your health history, and this could be more crucial if you have the history of heart disease. The company may also be interested to know whether anyone in your family have any history of heart disease, and particular succumb to it.
[testimonials backgroundcolor=”#a0ce4e” textcolor=”” class=”” id=””]
[testimonial name=”heart.org” avatar=”male” image=”” company=”website” link=”http://www.heart.org/HEARTORG/Conditions/CongenitalHeartDefects/TheImpactofCongenitalHeartDefects/Insurance-Coverage-and-Heart-Defects_UCM_307116_Article.jsp” target=”_blank”]”Here’s some great information from Heart.org. It’s a US based website but gives excellent synopsis of heart conditions and life insurance – Click Here“[/testimonial]
[/testimonials]
What you need to know about getting life insurance with heart conditions
The insurance premium rates for those who have previously suffered from heart conditions reflect the severity of the disease. Affordable rates might not be possible, but standard premium rates are actually obtainable.
As long as you have undergone some serious treatment for your condition and it is not regarded as too severe, then you will be able to find affordable life insurance cover. However, various underwriters focus on whether your heart condition is improving, worsening or stable and whether you are complying with medical recommendations or not.
Besides, if you have either suffered from multiple heart conditions or have additional medical conditions, you may still qualify for life insurance cover, but at an increase premium rate.
Shop around for better life insurance cover
If you have a medical history of heart condition or a heart condition, you should not just assume that obtaining life insurance is too costly or a kind of hassle. What you need to do is to invest a little effort and time in finding the most competitive deals for your life insurance cover depending on your conditions and situations.
This will help you keep the cost down, while protecting your family in the event you succumb to your heart conditions. You will find several insurance providers that are able to offer affordable life insurance cover in spite of your heart condition.
Generally, the cost of your life insurance cover will depend on the type and severity of the heart conditions. So, it is important to offer the full details of your heart condition when applying for a cover. You must be truthful about your health conditions or medical history, otherwise your plan will be void in the event of a claim following your death, meaning your family might end up with no compensation.
Remember, you can get an inexpensive life insurance premium rates from various companies. However, if you have serious medical conditions you might find it more difficult to get affordable rates on your policy.