Final Expense Life Insurance with a Heart Condition
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Get Approved For A Final Expense Life Insurance Policy
According to the American Heart Association, Heart Disease is the number 1 leading cause of death in the United States killing over 375,000 people in the US each year. It’s the number one cause of death for women, effects almost 50% of the African American population and is responsible for about 1 in 7 deaths in America.
It’s not surprising that life insurance companies are somewhat hesitant to issue a Final Expense life insurance policy to someone who has heart disease but it’s changing! The death rate is decreasing and people are living with heart disease longer than ever. Modern medicine plays a huge role. New medications, procedures and declining risk factors all help in battle against heart disease.
Life insurers recognize that people are living longer and have loosened the purse strings when it comes to approving Final Expense Insurance with heart disease. Co-morbidity factors are a big piece of the underwriting process. This includes your height and weight (body mass), whether you are a smoker or if you have diabetes in addition to heart disease will all play a part in determining your insurablility.
It comes to reason that if you haven’t used tobacco for more than 12 months, have a reasonable height and weight ratio, and don’t have diabetes, your rates could be lower and you’ll have more options when it comes to companies and price.
The Type Of Life Insurance Will You Qualify For
Today’s Final Expense Insurance policies make it much easier to get a $10,000, $25,000 or even $50,000 even if you had a heart attack. The general guideline is that insurance companies are looking for is more than 2 years from a heart attack, bypass, stent placement or angioplasty. There are a few companies that want a five year look back, but it’s safe to say 2 years is acceptable.
If the heart attack or procedure was less than 2 years ago, it’s still possible to get a policy, but you might need to accept a 2 year graded or modified period. This means that the policy would pay a portion of the death death benefit and after 2 or 3 years, it would pay 100%. Feel free to give us a call at (614) 402-5160 to find out if you qualify for an immediate death benefit or if you would have a waiting period. Each company has it’s own list of accepted conditions and time guidelines.
Will You Have to Buy a Policy with a Waiting Period, or Will You Qualify for Immediate Coverage for Life Insurance with a Heart Condition?
The following conditions are typically acceptable and you can get a life insurance policy, but in order to get a policy that will pay the full death benefit, you would need to be treatment free and diagnosed more than 2 years ago. Companies will vary their opinion when it comes to considering maintenance medications as “treatment”. Check with our independent agents to find out which companies will or won’t for your specific condition.
- Heart Attack (myocardial infarction)
- First diagnosis of Coronary Artery Disease, a heart rhythm disorder including Atrial Fibrillation (AFIB), Arrhythmia,or Tachycardia
- A procedure to correct a heart rhythm disorder like an Ablation
- Coronary Artery Bypass Surgery
- Angioplasty
- Coronary Stent placement
- Valvular Heart Disease with Surgical repair or replacement
- Placement of a pacemaker or defibrillator
- Congestive Heart Failure (CHF)-No treatment or hospitalizations
- Aortic Aneurysm
- Cardiomyopathy
- Stroke or Transient Ischemic Attack (TIA or mini stroke)
- Use of nitroglycerin-This isn’t a cut and dry area. Each company would have it’s own opinion based on how often it’s used and exactly why. If it’s truly used on an occasion, a few times a year, some companies would consider offering an immediate death benefit. You’ll likely need to submit an application for a policy to get a solid answer, but we’ll be able to steer you away from the companies that definitely have a issue with it.
Should you purchase a policy with a Graded or Modified Benefit?
If you can’t get a policy with an immediate death benefit, you should purchase a policy while you’re waiting for that 2 year period to pass. Unfortunately it’s not uncommon for another heart related condition to arise, or even the development of a completely unrelated medical to rear it’s ugly head. At least you would already have starting counting down the graded or modified period of time if something else occurs. Once you’ve met the requirements of your condition passing the 2 year look back period, you could potentially get a lower rate with a new policy even though you may be a little older.
If you won’t qualify for a policy that would pay your beneficiary a percent of the death benefit anywhere from 25% to 50% during your first year and up to 70% in your second year, then you will always be able to get a Guaranteed Life policy. Our 3 best picks for Guaranteed issue are Gerber, AIG and Great Western Life insurance companies. They all return 100% of the premiums you paid plus 10% interest and have a 2, not 3 year waiting period.
7 Things you can do to improve your chances of avoiding Heart Disease and qualify for a Life Insurance with a Heart Condition
The American Heart association recommends doing these 7 things:
- Quit smoking-Smoking constricts blood vessels making harder for blood to make it to the heart and increased carbon monoxide that damages them. Smoking is a leading cause of heart disease.
- Exercise-Inactivity is also a leading cause of heart disease so it’s recommended you do some type of physical activity for an hour a day.
- Control high blood pressure (hypertension)-High blood pressure can lead to hardening of the arteries that narrows your blood vessels. Keep a close eye on your blood pressure and take medication to help as prescribed by your physician and limit the use of salt.
- Control cholesterol levels-High levels of cholesterol contribute to plaque build up in arteries decreasing blood flow.
- Eat a healthy diet-Avoid salt and foods high in saturated fat.
- Maintain a healthy weight- Obesity contributes to high blood pressure, high cholesterol and your chances of getting diabetes which are all factors in developing heart disease.
- Control blood sugar and diabetes-People who have diabetes have an increased chance of developing heart disease as well as many other conditions like diabetic neuropathy and glaucoma.