When I was diagnosed with atrial fibrillation a few years ago, I worried it meant I’d no longer be able to get life insurance. As someone with two young kids, having coverage is crucial so my family will be provided for financially if anything happens to me. The good news is that with some perseverance, getting life insurance with a heart condition is possible. Here’s what I learned from my experience.
Insurers view any kind of heart disease as higher risk, which leads to:
Minor conditions like benign murmurs may have little impact on getting a policy. But significant diseases like arrhythmias, cardiomyopathy, valve disorders, and history of heart attacks or surgery will result in higher premiums and difficulty finding coverage.
If you have a heart condition, here are some things you can do to potentially reduce costs:
Making positive lifestyle changes shows insurers you’re committed to managing your health, which can lead to better rates.
I’d recommend getting quotes from at least 5-10 highly rated insurers if you have heart disease. Underwriting practices vary, so one carrier may rate you more favorably than another based on your specific condition and health history.
Independent agents have access to multiple insurers and can help you identify heart-friendly companies. Having an expert shop for you saves tons of time versus contacting carriers yourself.
Depending on the severity of your condition, some policy options to explore include:
For serious conditions, simplified issue and guaranteed issue policies require limited medical questions but have lower payout maximums. Term life provides the highest coverage limits but involves full underwriting.
I highly recommend enlisting an independent insurance agent to guide you through the process of getting covered with a heart condition. An agent serves as your advocate by:
Working with an expert who understands underwriting gives you a huge leg up. There are absolutely options out there, even if the first insurer declines you. With an agent’s help, I ultimately secured a reasonably priced 20-year term life policy despite my heart condition. Don’t give up without exploring every avenue first!
Getting life insurance with a heart condition takes some additional effort but is certainly achievable in most cases. Take control of your health, persevere through the insurance process, and enlist an expert to guide you. With the right preparation and support, you can still get coverage to protect your loved ones. Where there's a will, there's a way!