Life Insurance with Cardiovascular Disease.
Finding coverage with cardiovascular disease is not easy. However, you chances greatly improve if you know which carrier to choose. We work with the top rated best life insurance companies that focus on high risk life insurance. If you have been diagnosed with cardiovascular disease then you need to read this.
There are three important questions you need to ask if you are looking for life insurance with a history of cardiovascular disease, these questions are:
- Can I get life insurance with cardiovascular disease?
- What will it cost for someone to get life insurance if they have a history of cardiovascular disease?
- What is the process like for someone to get life insurance if they have a history of cardiovascular disease?
Let’s begin with a brief overview.
Cardiovascular disease – also known as heart disease – includes many problems that affect the heart. Cardiovascular disease primarily is concerned with the blood vessels either narrowing or being blocked (typically due to atherosclerosis) leading to heart attack, chest pain (angina) or stroke. Atherosclerosis develops when plaque builds up in the walls of the arteries causing the arteries to narrow or clog.
Other types of cardiovascular disease are heart arrhythmias, congestive heart failure and heart valve problems.
Congestive heart failure occurs when the heart cannot pump enough blood to the rest of the body or your heart muscles are stiff and do not readily fill up with blood.
Another factor with cardiovascular disease is a heart stent. A stent is used to treat weak or narrow arteries. A stent will open the artery back up to allow blood to flow freely and provide support to a weak artery.
Can I get life insurance with a history of cardiovascular disease?
The quick answer is, YES.
What is the cost?
Life insurance companies have about 16 different rate classes. What rate class you qualify for and the different types of life insurance you choose, will determine your life insurance cost.
Typically, someone who is battling heart disease, and who has made a turn for the better, will qualify for a standard rate class at best.
Many people suffering from cardiovascular disease will qualify for life insurance at a below standard rate class.
Further, people suffering from cardiovascular disease may have limited options when it comes to life insurance. Often, the only option would be a burial life insurance policy from the top burial and final expense insurance companies, where there is no medical exam and no health questions.
What is the process?
A guaranteed issue life insurance policy is quick and easy. It is guaranteed issue so everyone within the required age bracket will qualify for this coverage. Typically, the amount you can qualify for will be from $5,000-$30,000 depending on the carrier. Most come with a graded death benefit limitation which provides that the full death benefit will only be paid after the policy has been in force for two or more years.
A fully underwritten life insurance policy requires a life insurance medical exam (we recommend you take your exam as soon as possible in the morning to get the best blood pressure readings). The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.
The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all senior life insurance companies are the same!
Not all life insurance carriers are the same
The life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers, including the best no medical exam companies.
As a consumer, it is in your best interest to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of different companies available. Only by doing this can you insure that you are getting the best policy tailored to your specific needs.
Because we’ve been doing this awhile here at TermLife2Go, we know that a lot of times when you suffer from a condition like congestive heart failure, you’re not really able to work and may not have a ton of discretionary income, especially if you’re currently receiving SSI disability.