Do you think that there is no life insurance after heart attack? Well! You are certainly wrong. No doubt it’s simple to get a life insurance plan in good health and with no pre-existing conditions at the lowest rates. But that doesn’t mean you can’t qualify for life insurance if you have heart problems.
Surviving a heart attack will change your life completely. This incident will also change the way you think about life and life insurance plans. It will force you to think about the consequences for your family in case of your sudden demise. Life insurance is certainly available for individuals having serious health issues including heart attacks.
In this blog post, we will discuss the possibility of getting life insurance after heart attack. Along with it, we will also explore the available options of life insurance after heart attack and some other factors. Let’s get started!
Can I Get Life Insurance After Heart Attack?
Yes, it’s possible to get life insurance after heart attack. Although not all life insurance providers and plans offer coverage to people who have experienced heart attacks, some insurers provide coverage with some restrictions.
For example, the coverage you get may include a cap. However, these restrictions vary from company to company. In addition, after a heart attack, the policy you may get and its cost will be affected by various factors like how long ago the heart attack occurred, its severity, and your age, overall health, and smoking status.
Best Life Insurance after Heart Attack
Here are some of the best available life insurance plans for people having heart issues:
1- Term Life Insurance after Heart Attack
Buying term life insurance after heart attack is not that difficult, as it all depends on your follow-ups and treatment. Overall, it will also determine the reason for heart attack as well. Another perk for getting term life insurance is its affordable premiums and you are also covered until and unless your policy is active.
2- Whole Life Insurance after Heart Attack
When you are getting a life insurance quote for a whole life insurance plan, the underwriting process will depend on how much the death benefit of the plan will be. Moreover, your age will also be a factor to count as well. But once you get this plan, you are covered for your entire life.
3- Guaranteed Issue Life Insurance
Guaranteed issue life insurance is a more likely life insurance option after a heart attack. It doesn’t require a medical exam or a health questionnaire and is available to anyone who is above 45, regardless of his health conditions. However, the insured may have to pay more for less coverage as there is a high risk for the insurer.
What are the factors to consider for getting life insurance after heart attack?
If you have had a heart attack, you may have to provide the following information to the insurance company:
- Age: The first question you will be asked will be certainly on age. The insurer will do so to get an idea about your health condition and eligibility to get an insurance plan. If you are into this ailment from your 30s, there will be less chance for you to get a life insurance plan.
- Severity: Generally, the severity and the impact of the heart attack on your overall health would play a significant role in getting a life insurance plan. If it causes serious and long-lasting effects on your health, it’ll be hard to get a policy.
- Diabetic Problem: If you have diabetes along with heart problems, it will significantly reduce your chance of purchasing a traditional life insurance plan. In such a case, the insurance company will refuse to insure you.
Tips to Get Life Insurance after Heart Attack
A heart attack doesn’t stop you from securing a life insurance plan. You can still get the coverage you need, you just have to shop carefully and follow these tips:
It’s always a good idea to look at prices from different companies before buying a plan. You can use some online tools to get quotes from various insurers at once. These quotes will not be your final price, but they will give you a good estimate so that you can make the best choice.
Consult a Professional
If you are new to this field and don’t know how to find the best plan, consult an agent or broker. It costs you nothing when you consult a life insurance agent. He will help you to compare plans and find the best one for your needs.
Ask your Physician to Record your Progress
If you have made strides to improve your health after having a heart attack, ask your doctor to make a medical note about your progress. Having this record in your medical file will help you to secure a plan easily, maybe at lower rates.
Consider Guaranteed Issue Policy
Go for Employer Coverage
Getting employer life insurance is a good choice especially when your employer is paying some or all of the premiums. However, this policy has less coverage as compared to a policy you can buy, but it comes with guaranteed coverage, so it’ll be worth it.
Frequently Asked Questions
1- What types of life insurance you may get after a heart attack?
There are various types of life insurance you may get for following a heart attack like:
- Term life insurance
- Guaranteed acceptance of life insurance
- Universal life insurance
- Critical illness life insurance
2- What are the risk factors associated with heart attack?
Here are some of the risk factors that may associated with heart attack:
- High cholesterol
- Chest pain
- High blood pressure
3- What to do to improve your chances of getting approved after a heart attack?
Although a heart attack is out of your control, by making a proactive effort for your health you can alleviate life insurance-related issues.
- Improve your lifestyle
- Reduce the need for medications via diet and exercise
- Obey your doctor’s advice
- Lock in coverage for as long as possible once you get approved.