Wondering how you can get an affordable life insurance policy after a heart attack? Does life insurance cover a heart attack? These re just a few of the questions we frequently get about heart disease and life insurance.
People who have had heart attacks often assume they’re unable to attain life insurance. Not true! Affordable life insurance for heart attack survivors is possible. But you need to know how to shop for this preexisting health condition.
While you can get coverage even after a heart attack, the reality is that not all companies will agree to write a policy for you. Therefore, it’s important to find a company that offers high-risk life insurance policies to cover heart attack patients.
Affordable Life Insurance for Heart Attack Survivors
What You’ll Learn in this article:
- 3 Life Insurance Questions
- What Is a Heart Attack?
- Is It Possible To Get Life Insurance?
- What Can I Expect the Life Insurance to Cost?
- Life Insurance Options and Process
- Each Life Insurance Company is Unique
- The LifeInsuranceBlog Difference
If you’ve ever suffered a heart attack, it’s imperative you know what you may be in for before you apply for life insurance. Here are three questions you may end up asking yourself:
- Is it possible to attain life insurance after you’ve suffered a heart attack?
- What kind of costs could you expect after you’ve had a heart attack?
- What’s the process to apply for life insurance when a doctor diagnosis you with suffering a heart attack?
A heart attack occurs when the flow of blood to a portion of your heart has been blocked, usually for an extended period of time that causes the heart muscle to become damaged or die. The medical term for heart attack is myocardial infarction. And, no matter if it’s said this way or the layman’s way (heart attack), it’s overall bad.
A heart attack can also be called a cardiac infarction or a coronary thrombosis. An infarction refers to when a location of dead tissue is caused by a blood supply loss.
The short, simple and sweet answer is yes. However, approval is dependent upon the following:
- Heart attack severity
- Amount of heart damage
- Time since the last heart attack
- How well you’ve taken care of yourself since the heart attack
- Medications you’re currently on
- Medications treating your heart
A person who’s had no heart problems in the last seven to 10 years and received amazing treatment such as EKGs and stress tests will be approved for a standard rate class.
The more time that passes from your heart attack episode, the better your chance of getting a standard rate class.
For people who have suffered from a recent heart attack, the best they could get is a table rating. If your heart attack is recent or there is a history of heart disease, you should consider a burial life insurance policy that uses only the best burial insurance and final expense companies that don’t include any health questions or exam.
There are 16 rate classes life insurance companies tend to use. Your cost is dictated by the rate class you’re classified under.
- Standard Rate Class – For people who’ve had no heart attack in the last 10 years and are on medication that controls their symptoms.
- Below Standard Rate Class – For people who’ve had a heart attack in the last 10 years, you may be provided a table rating or below standard rate class. You may be advised to attain a guaranteed issue life insurance policy that includes no health questions or an exam.
There are two main types of life insurance:
- Term Life
- Permanent Life
There are some insurance companies who ask that you get an exam while others don’t.
If you want a completely underwritten life insurance policy, you may be required to get a medical exam. (Click here to read about the pros and cons of No Medical Exam life insurance.)
The examiner will show up to your home, checking your weight and height and take a urine and blood sample. These results will be processed and, along with the doctor’s statements and medical records. The insurance company will also conduct a prescription database check to find out prescriptions you’re taking at the moment and in the past.
From all this information, the underwriter will determine what your risk level is and assign you a class rate.
LifeInsuranceBlog will handle the entire process, allowing you to relax and wait to get your life insurance company to approve your application.
When it comes to the life insurance industry, it’s no different from any other agency. Competition is fierce, and it drives life insurance companies to compete for your business. It’s why carriers will focus on certain niches – to garner a market share. Some life insurance companies are great for Diabetes or Stroke. While other companies are stronger for life insurance with heart disease.
It’s important you know these companies so that you can choose the life insurance company that is best for you. You want to go with a company that offers the best life insurance policy even after you’ve suffered a heart attack.
You want an agency that will help you to find that life insurance company who will provide you with the best insurance policy after you’ve suffered a heart attack. When you go with an agency, they will work hard to get you a policy that will best meet your needs.
When you work with LifeInsuranceBlog, your application is assigned an agent who will work alongside you during the entire application process. The agent will give you status updates about the application and review it after it’s been approved to make sure you get a fair cost.
All you need to do is call us today to see how we can assist you – 888-411-1329.
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