Life Insurance Approval with Heart Disease

by Jeff Rose on November 21, 2016 · 0 comments

in Term Life Insurance

Life Insurance Approval with Heart DiseaseHaving a heart attack can be a frightful experience.  It can cause various problems, and one of those problems is with your life insurance.

You are unsure of your future and, if you have no life insurance, what your family will do without you.

My father had two heart attacks, the last taking his life.   So, unfortunately I have more experience with heart disease and heart attacks that I would like.

In any economy it is a struggle to pay for medical, funeral, burial, and regular expenses all at the same time, as well as the enormous amount of stress and grief the family will be going through.

After a heart attack is when many people begin to realize their risks of death and the fact that they need life insurance. (Hopefully you already have it!)
The problem, though, is when people actually try to get life insurance with heart disease history. This is a red flag for many companies so some people shy away from trying.  If you’ve had a heart attack, or other cardiovascular complications, you may have heard that you can’t get life insurance, or that your policy will be too expensive, but neither of these is true. There are still plenty of life insurance options for you to get affordable coverage.

Getting Approved For Life Insurance with Heart Disease

Good news about this is that you can get life insurance with heart disease, you just have to take the right steps. There is high chance of you not getting approval for the bigger and best rates but you can still get something simple that does pay for what you need it to.

To better your chances of being approved you can also work on everything for yourself. Take medication, do what your doctor says you should do, and choose a healthy diet along with exercising. When you show that you are taking the proper steps to control your heart disease and give yourself a better life then they will be more inclined to help.

Diet and exercise can help you on several different fronts. Not only is it great for your health, but it can also make a huge difference on your life insurance premiums. It’s going to help you lose weight, lower your blood pressure, lower your cholesterol, lower your risk of further heart problems, and much more. All of these are going to translate to better life insurance rates.

Follow your doctor’s instructions!

They want to lead you to a better life and, if you plan on getting life insurance or living a longer life, that will help you. If they provide medication and instructions, like diet, exercise, and/or lifestyle changes, then accept them and try your best to keep up with those changes. They will not only have you living a stronger, longer life but also the life insurance companies will be more willing to approve you.

While medication exists for some issues that cause heart disease, there is nothing to replace a better diet and lifestyle. Those who give out life insurance want to see that you have been changing your life for the better, not just living the same life that brought into the predicament to start with.

Similarly, you’ll need to cut any tobacco out of your life. Using smoking or chewing tobacco drastically raises your risk of having several health complications, and that’s going to be reflecting in your life insurance premiums. Anyone that uses tobacco is going to pay double or even triple what a non-tobacco user is going to pay for life insurance coverage.

You will appear to be a better customer for life insurance if you are taking the necessary steps to live, something they absolutely do look for.

Remember to write down every little thing you do.

You want affordable life insurance companies to look at your health records and think of you as the perfect customer, somebody who pays attention to his or her own health and wants to lower the risk of death. With all of the knowledge in front of them, they will see you as somebody they can get behind.

Other Options – Guaranteed Acceptance or Simplified Life Insurance

If you get declined for term life insurance, all is not lost.   There are still some carriers that may approve you.   These type of policies are often referred to as Guaranteed Acceptance Life Insurance or Simplified Life policies.

These type policies may cost more, have a graded death benefit and not provide as much coverage as you would like, but at least you have some life insurance coverage to protect your family.

Because the insurance company doesn’t get a clear picture of your health, they are taking a much higher risk by insuring you. The only way for them to offset that risk is by charging your more every month, but you can’t put a price on the peace of mind knowing that your loved ones will be taken care of if anything tragic were to happen to you.

Most guaranteed issue policies come with a graded death benefit clause, which means that if you were to pass away within the first two years after buying the policy, they wouldn’t pay you the full amount of the plan. They would only refund your premiums, sometimes with interest.

Additionally, these plans have a much lower ceiling for their maximum coverage amounts. Every company is different, but most of them have coverage limits around $400,000, which isn’t enough for most families. If you want more life insurance coverage, you’ll have to apply for a medically underwritten policy, or purchase more than one plan.

Here’s a sample of questions that a simplified policy would ask:

Guranteed Acceptance or Simplied Life Insurance Policy

Sample Questions

Getting life insurance with heart disease history may seem like an impossible task but it really can be easy if you think about your life. Wait a year or two and, in that time, work on your own health and get yourself in a better condition. If those who work in the life insurance field see that you have done remarkably well since the incident and are working to improve yourself everyday then they will be happy to sign you up.

The best way to get connected with the perfect policy is to work with an independent life insurance agent, like ourselves. Unlike traditional insurance agents, we work with dozens of highly rated companies. Our agents have experience working with all of the different insurance companies and know which ones are going to give you the best rates. Not only can they save you money, but they will also save you time.

Because there are so many companies, you could spend weeks call different agents and getting quotes. Your time is valuable, don’t’ waste it talking on the phone to receive quotes.

If you have any questions about getting life insurance with heart disease, or questions about the different types of life  insurance, please contact us today. It’s our mission to help you get the perfect policy at an affordable rate. You don’t know what’s going to happen tomorrow, but you can always plan for the worst. Don’t wait any longer to get your family the insurance protection that they deserve.

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