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Life Insurance with Cardiovascular Disease

Licensed Life Insurance Agent/Marketing Manager
March 31, 2020

If you find the right insurance company, the process of qualifying for life insurance with a cardiovascular disease can be easier. While having a cardiovascular disease can categorize you as needing high risk life insurance, you do still have options. 

If you have a cardiovascular disease you may be asking yourself if you can qualify and how much life insurance will cost. We will answer the following questions in this article: 

  1. Can you get life insurance with a cardiovascular disease?
  2. How much does it cost to get life insurance with a cardiovascular disease? 
  3. What is the process for applying for life insurance?
  4. What do I do if I have been denied coverage due to a cardiovascular disease? 

Can you get life insurance with a cardiovascular disease?

The short answer is yes. You can still get life insurance. 

The life insurance company will most likely ask you questions about your condition such as severity and if you are on any medications. They want to learn as much as they can about your unique situation to determine if you qualify and how much it will cost. 

Whether you currently have a heart disease or if you had one in the past can also make a difference in whether you qualify. Typically the longer you haven't had an issue with your heart, the better chance you have of qualifying for life insurance and receiving a more affordable rate. 

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How much does life insurance cost with a cardiovascular disease?

When a life insurance company is looking to determine how much your life insurance policy will cost they use a combination of factors.

  • Rate class
  • Type of life insurance policy
  • Amount of coverage you want

The rate class is determined by each life insurance company and they all have a different scale that they use. A rate class is based on a combination of age, health, gender, lifestyle and other factors. The rate class that a company puts you in will assist in determining your rate. 

The type of life insurance policy you choose will also play a part in costs. A term life insurance policy will be your cheapest option, however, it is only active for a certain period of time, which may not be ideal for your situation. 

The amount that you want in life insurance coverage can also affect the rate. If you want a higher coverage amount (or death benefit), the more expensive your policy will be. 

What is the process to apply for life insurance

This is another situation where you have options and those options will affect the process to apply. There are three main options you may want to consider:

  1. Traditional life insurance policy
  2. No exam life insurance policy
  3. Guaranteed issue life insurance policy

A more traditional life insurance policy includes what is called fully underwriting. This means that you will go through the full process to qualify. A fully underwritten policy will require you to take a life insurance medical exam. In this process the examiner typically comes to your home to check your height and weight. They will take a small blood and/or urine sample. The life insurance company will also request your medical records and will be able to view your current and previous prescriptions. They use this information along with your application to determine your eligibility and cost for a policy. 

If you are worried about blood work or a medical exam you could opt for a no exam life insurance policy. This policy will allow you to skip the medical exam and it may not cost much more. You will most likely have to take a health questionnaire. This will be used to determine your eligibility and cost for a policy. 

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 life insurance company. No health considerations are made with this policy, but as you can see the coverage amounts are usually on the lower end. 

Your life insurance agent can help guide you through this process. 

What if I have already been denied coverage due to heart disease?

If you have been denied life insurance coverage due to a cardiovascular disease, you have options. 

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, some life insurance companies may look more favorably on those who have heart disease. This means that it can be easier to qualify with some companies over others. 

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.  This will help you get the best policy tailored to your specific needs.

Written by
Chelsie Ball
Chelsie is fixated on developing innovative ways to present complex ideas and maneuvering people to the information they need. She has worked in digital marketing for the past seven years and has been a licensed life insurance agent since 2010. When she isn’t looking out for the user, you can find her watching Netflix or desperately trying to find a real hobby.