Medical conditions can render people unable to qualify for life insurance.
Providers typically ask detailed questions regarding the health of the applicant.
These may delve far into the past, inquiring about conditions and medications that have not been taken for years.
Applicants should be honest regarding past or current heart issues and other medical problems.
Medical technologies and treatments are enabling people with heart conditions to live long, healthy lives and some life insurance providers cater to this population.
Some companies specialize in finding life insurance for people suffering from heart conditions including heart disease. These firms know which insurers offer life cover for this special population. Though they cannot guarantee that they will find acceptable cover, they scour the market to discover what exists.
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If they find several prospective insurers, they help consumers identify which one offers the most comprehensive cover at the lowest cost. Some companies even help applicants complete the required paperwork and will remain in contact until a policy is bound.
The life insurance industry has traditionally been reluctant to cover individuals with medical conditions related to the heart. However, some providers have begun offering cover to people with stable angina and controlled high blood pressure. People with heart arrhythmia can find coverage at rates close to normal as long as they do not have complications and even if they have diabetes or other co-existing conditions.
Many people think that experiencing a heart attack automatically prevents them from qualifying for life insurance. This is not true, particularly if the attack took place at least six months prior and complications do not exist. A heart attack sufferer who is a smoker should expect to pay at least double the premium that a non-smoker pays. If the applicant has suffered from multiple heart attacks or has additional medical conditions, the individual may still qualify for cover at an increased premium.
People who have undergone heart surgery may also qualify for life insurance. The cover is available six months after an individual has undergone a successful angioplasty and stenting or aorta graft surgery for swelling of the aorta. For bypass surgery, heart valve replacement, and stroke patients, cover is available one year from the procedure as long as complications do not exist.
Insurance underwriting is based on dozens of rating factors. If an online quote website asks just a few questions and returns low premiums, be prepared to answer many more questions, some of which will pertain to heart problems. Prior to processing a lengthy application, a website or agent can only provide a preliminary quote based on market knowledge and the brief medical history submitted.
To increase their chance of approval, people with heart conditions should deal with websites or agents that represent multiple insurance companies.
An individual with a ratable heart condition should attach a recent letter from a treating physician to the insurance application. This should describe medical history, current medications, and include an assessment regarding the health outlook.
This provides the agent and underwriter with an accurate picture of the medical situation. Underwriters focus on whether the condition is stable, improving, or worsening and whether applicants are complying with medical recommendations.