Life Insurance with Heart Conditions

Shawn Plummer

CEO, The Annuity Expert

Can Someone Get Life Insurance With Heart Problems?

Many life insurance companies do not want to accept applications from people with congestive heart failure or heart disease because they are considered severe medical conditions.

Usually, insurers will want you to wait for at least one year after your diagnosis and treatment before they approve your application. However, this will give them a better idea of how your condition is currently progressing.

Underwriting Expectations

The insurance underwriters will typically request more information about your heart condition when reviewing your application for coverage. This may include:

  • Why were you diagnosed with the condition you have?
  • What was the date of your diagnosis of congestive heart failure and heart disease?
  • Do you or any of your family members have a history of heart disease?
  • Did anyone in your immediate family die from heart disease?
  • What medications are you currently taking, and what is the dosage for each?

It is very important to give the underwriters all the information they need. They may choose not to accept your application or give you a high premium rate if you do not. If you do not give them all the information, it may also cause them to cancel your coverage later.

After reviewing all the information, the underwriters can determine if you qualify for coverage. If you do, they will determine what underwriting class you need and how much your policy will cost.

Life Insurance For Heart Patients

Type of Policy You Can Qualify For

There are different types of life insurance, and each company has their own way of deciding who can get it. However, most companies use similar classifications to determine who is eligible for their policy. The categories are based on someone’s health and other factors.

  • Preferred – People who are in good health may be ranked as preferred. These policyholders generally pay a lower premium rate than people who are not as good of health. It is very unlikely that an insured person who suffers from heart failure will qualify for the preferred underwriting class.
  • Standard – Generally, people in good health will be placed in the standard rate class. However, if someone is diagnosed with congestive heart failure or another heart disease at age 60 or older and is otherwise healthy, they may be placed in the standard underwriting category. This is especially true if they did not apply for coverage for at least one year after their diagnosis and/or treatment.
  • Table Rated / Sub-standard — Your rating will be based on the seriousness of your condition, your age when diagnosed, and your overall health. You will likely be placed in a table or class with a higher premium than the standard rate for the same coverage. You are a higher risk to the insurer because of your heart condition.
Heart Insurance

How to Increase Your Odds of Getting Approved

In order to increase your chances of getting approved, it is important that you work with an independent life insurance agent who is successful in getting insurance for high-risk cases. This way, you can be confident that the agent knows what requirements are necessary for the application process.

We are experts in life insurance for high-risk applicants. We know which life insurance companies are more likely to accept and approve your application. We can also help you improve your chances of getting your application approved by writing a letter of recommendation highlighting the positive changes you have made to your health habits and lifestyle.

If your Application is Declined

The truth is that many high-risk life insurance cases are declined. But don’t worry, an independent agent can help. Independent agents work with many different insurance companies, so they can find a policy for you even if your application is declined. If your application is declined, your independent agent might be able to find you a “guaranteed issue” policy. This policy costs more than standard life insurance, but it’s better than having no life insurance at all.

What is Guaranteed Issue Life Insurance?

A guaranteed issue insurance policy is a Whole Life insurance policy that doesn’t ask any questions about your health. In fact, you don’t even need to take a medical exam or give blood or urine samples. However, before applying for the policy, you need to be aware of three things:

  • Lower Death Benefit  This type of insurance typically has a limit of $25,000 for the death benefit, depending on the age of the applicant.
  • Full Death Benefit Waiting Period  Usually, the insurance company requires a waiting period of two or three years before they will give you the full death benefit if the person died from natural causes. But if the person died from an accident, the company would give you the full death benefit from day one.
  • Higher Rates  Since the insurance company has agreed to provide coverage for an unknown health risk, they can charge more for premiums.

Heart Conditions Include

Insider Tips For Life Insurance For Heart Patients

With a decade of first-hand experience in insurance, we’ve gained insight into how underwriters evaluate heart disease (coronary artery disease) cases. Here are some key takeaways for you.

  • Impact of Negative Stress Tests: Underwriters typically lower your rate class by two levels if you’ve had a negative stress test within the last two years. For example, if you’re originally at Table 4, they might offer you Table 2 rates.
  • heart attack Recovery Period: Contrary to popular belief, most insurance companies consider applications just 3 to 6 months after a heart attack rather than requiring a longer wait.
  • Medication and Policy Cost: While many think ongoing medication increases policy costs, underwriters actually prefer seeing preventative medications used to avert future heart attacks. Such medications are viewed positively.
  • Additional Credits for Lifestyle Factors: Beyond the negative stress test, insurance companies often give extra credits for healthy lifestyle choices, like regular exercise, healthy eating, maintaining a good height-to-weight ratio, and having controlled lipid levels, including cholesterol and triglycerides.

Life Insurance Companies For Heart Conditions (We Recommend)

Life insurance is an essential tool for financial planning, but it can be difficult to obtain coverage if you have a pre-existing medical condition.

  • American General is one of the most favorable life insurance companies for applicants with heart conditions, as they have some of the strongest underwriting guidelines in the industry.
  • While every situation is different, we recommend policies such as term, universal, index universal life, and guaranteed issued life insurance for those with heart conditions.
  • AIG is a well-established and highly-rated company that has been serving policyholders since 1919.

Disclaimer: We are licensed life insurance agents for AIG. If you need a quote or want to apply, contact us below. There is no charge for the service. We strongly discourage applying without the assistance of an agent because if you apply on your own and get declined coverage, for whatever reason, no other life insurance company will consider you for coverage for approximately two years.

Frequently Asked Questions

Can I get life insurance after a heart attack?

Yes, most companies will consider you 3-6 months after the heart attack.

Need Help Getting Life Insurance Coverage?

If you have a pre-existing medical condition and want to buy life insurance, you will need help from an expert. This person can help ensure you get coverage so you don’t get declined.

Warning: Applying for life insurance without a medical exam can be risky. If you are declined coverage, it could be at least two years before you are able to get any life insurance.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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