There are four important questions you need to ask if your are applying for life insurance with a heart murmur. You also need to understand that not all high risk life insurance companies are the same when it comes to underwriting heart murmurs. The following is a breakdown of the information provided in this article:
- Can I get life insurance if I have a heart murmur?
- What will it cost for life insurance with a heart murmur?
- What is the process of obtaining life insurance with a heart murmur?
- What is the best company to apply with?
Heart Murmur Life Insurance Overview
Most people who have a heart murmur don’t even know they do. Often, a person will be diagnosed with a heart murmur for the first time while having an EKG done as part of a paramedical exam for a life insurance policy.
Heart murmurs come in two flavors: Functional (also known as physiologic and innocent) and Organic.
Functional heart murmurs are usually not an issue whey applying for life insurance. Organic heart murmurs are a different story.
Organic heart murmurs are due to heart disease or were heart problems present from birth.
Most likely. Ultimately, approval will depend on:
- what type of heart murmur you have,
- date of diagnosis,
- treatment you are or have received, and
- any preventative measures you take (quit smoking, exercise, diet, etc…)
Life insurance companies have about 16 different rate classes. What rate class you qualify for will also determine your whole or term life insurance rates.
Most well controlled clients with an innocent, physiological or functional heart murmur will qualify at a preferred to preferred plus rate class (assuming you have no other health issues).
For clients with organic heart murmurs it will come down to how well the condition is being treated and if there are any other factors to consider, such as heart disease. For those with a history of heart disease, choosing burial insurance from among the best burial insurance and final expense insurance companies might be the only route to take.
Some clients looking for life insurance with an innocent heart murmur may be better served with a no medical exam life insurance policy. All you have to do is answer a series of questions about your health and lifestyle. There is no paramedical exam required. See, Term life insurance: exam v. no exam.
For clients who have an organic heart murmur the best route to obtaining life insurance is with a fully underwritten life insurance policy. This type of policy requires a life insurance medical exam. The carrier may 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 life insurance carriers are the same when it comes to underwriting heart murmurs!
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.
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 the best life insurance companies available, including the best life insurance companies with no medical exam. Only by doing this can you ensure that you are going with the best life insurance company for underwriting heart murmurs. That is how you achieve the best policy tailored to your specific needs.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there! If for some reason the life insurance carrier you applied with did not give you a fair rate class determined by industry standards, then we will take your exam and re-apply with another company. That way you shop the front end and back end of the life insurance process to make sure you are receiving the best policy at the best price.
So, what are you waiting for? Give us a call today or visit our Online Life Insurance Quotes page and see what we can do for you!
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