If you’re living with a heart-related health condition, you can face a lot of difficult problems, but buying life insurance shouldn’t be one of them.
Once upon a time, anyone that has had a heart attack or had any severe heart problems would never be able to get life insurance. If they did get life insurance, the plan was going to be ridiculously expensive. Thanks to new medical developments and new insurance products, anyone can get life insurance, regardless of health or any pre-existing conditions.
If you have any severe health problems on your medical records, then you might think that you can’t get life insurance, or that your coverage would break your bank every month. Neither of these are true. In fact, they couldn’t be further from the truth.
At LifeInsuranceUnited.com, it’s our mission to ensure that you’re getting the best plan possible. Every year, we work with dozens and dozens of applicants that have heart-related conditions. We know that shopping for life insurance can be difficult, especially with a pre-existing condition.
Heart Conditions and Life Insurance
When you apply for life insurance coverage, the insurance company is going to review dozens and dozens of factors to decide how much they are going to charge you for life insurance or if they will accept your life insurance application. One of the most significant factors that they are going to look at is your health or any pre-existing health problems that you have. They are going to use this information to calculate how much risk that you are to insure with a plan.
The application process is long and complicated. The company is going to require that you take a medical exam and ask you dozens and dozens of questions about your health and your medical history. One of the first questions that they are going to ask about your health condition.
If you had a heart attack, for example, they are going to ask when you suffered from a heart attack. If your heart attack was very recent, then the insurance company is going to be cautious about giving you life insurance. If it’s been more than a year, then the insurance company will still offer you affordable life insurance coverage.
The next question that they are going to ask is if there was any underlying health complication that caused the heart attack. The heart attack could have been a result of a much larger problem, like diabetes or heart disease. If it was, then you’re going to pose an even greater risk to the insurance companies. Now, if the heart attack was because of heart disease or another serious problem, then it’s going to be much more difficult to get life insurance. Regardless of the cause of the heart attack, it’s possible to get affordable life insurance protection for your family.
The next question that they are going to ask is about any treatments that the doctor prescribes or that you’ve used since the heart attack. Your doctor could have suggested that you make some lifestyle changes, like exercise or getting smoking. Both of these can drastically improve your health and reduce your chances of suffering from another heart attack.
Getting Cheaper Life Insurance
If you’ve suffered a heart attack or you’ve been diagnosed with a health problem, you know that your life insurance is going to be more expensive, but that doesn’t mean that plan has to put a dent in your wallet every month. There are several ways that you can secure lower insurance rates for your insurance protection.
The first thing that you should do if you want to save money is to cut out any tobacco that you currently use. If you’re a smoker, not only are you drastically increase your chances of having a heart attack, but you’re also going to pay a lot more for your life insurance protection every month. As a smoker, you’re going to pay twice as much for your life insurance as a non-smoker. As an applicant with a heart attack in the past, adding smoking to your application could cause you to be declined for coverage.
Another way that you can save money is to improve your overall health. The insurance company is going to require that you take a medical exam. If you want to save money, then getting better results can help you do that.
Guaranteed Issue Life Insurance
One option for life insurance is to purchase a guaranteed issue plan. As you can guess from the name, these plans let you get coverage, regardless of your health or any pre-existing conditions. All that you have to do is give the company your age, answer a handful of questions, and then you’ll be accepted for life insurance. These plans might sound like an attractive offer, but there are a couple of drawbacks.
The most notable disadvantage is that they are going to be more expensive than a traditional policy. The purpose of the exam is to give the company an idea of your overall health and how much risk that you are. Without that exam, the company is taking a significant risk, and they are going to offset that by charging you higher premiums.
Another pitfall of these guaranteed issue plans is that you’re going to be limited to how much that you can buy. With most guaranteed issue life insurance policies, you will only be able to buy around $50,000 worth of coverage. For most families, that won’t be nearly enough insurance protection.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance coverage that your family deserves. If you have any questions about getting life insurance with a heart condition, please contact one of our agents today. We would love to answer those questions for you and connect you with the best possible plan for you and your family.
We are a group of independent insurance agents, which means that we don’t work with one single company. Instead, we represent dozens and dozens of highly rated companies across the nation. We can bring all of the best insurance rates directly to you.