Heart Disease Life Insurance
HEART DISEASE LIFE INSURANCE
Heart disease life insurance has suffered from urban myths that would lead one to believe that there is no chance of life insurance after a cardiac event (MI, bypass surgery or angioplasty). Those myths would say that in the best cases there is no chance of life insurance approval for at least 5 years. One thing that isn’t an urban myth is that heart attacks are seasonal.
In most cases the only thing you will be waiting for to apply for life insurance is your first cardiac workup, usually an imaged stress test, after the event and treatment. The reason for that waiting period is simply to have confirmation that the procedure worked as planned and to give the life insurance underwriter a look at how much, if any, damage was done to your heart and how it has recovered. Most cardiologists want this type of follow up about six months post treatment.
Those under age 50 at the time of a cardiac event will be rated higher for heart disease life insurance than those after 50, but this is often offset by the fact that the cost per thousand is lower at younger ages. If a person over 50 has a one vessel angioplasty, moderate blockage with no heart attack and has good follow up, once that first work up is done, they should be able to apply and get standard or better rates for life insurance, regardless of their heart condition. If that same person had a heart attack with severe blockage but minimal damage to the heart, post workup they could be approved at rates 75-100% above standard.
When calling about life insurance for heart patients, seniors, or others dealing with heart disease, it is best to have access to all of the information surrounding the event and a narrative summary of your 6 month workup.
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The Hinerman Group knows that every situation is unique and it can be difficult finding the best answers. Be sure to check out our blog where you will find a comprehensive bank of topics covered regarding Life Insurance. The background covered in The Hinerman Group blog will point you in the right direction and help you get your family the coverage you need.
Want to talk? Call Ed directly at (719) 539-7914 for a FREE CONSULTATION. *Ed released the fish and it went on to have a full life.