Life Insurance Options With Cardiomyopathy

Life insurance is a financial product that pays out a sum of money to provide for your loved ones in the event of your death. While it is not mandatory to have life insurance, it is beneficial for those who have dependents or family members who rely on their income. If you have cardiomyopathy, a group of diseases of the heart muscle, you may wonder if you can get life insurance. The answer is yes, but it may be more challenging and expensive than for those without heart issues. The specific type of cardiomyopathy and your overall health will impact your eligibility and the cost of premiums.

Cardiomyopathy life insurance approvals are rare but possible

Cardiomyopathy is a group of diseases that affect the heart muscle. The condition can cause the heart to become enlarged, thick, and/or rigid, restricting its ability to pump blood effectively. This can lead to a range of serious complications, including heart failure and arrhythmia. As a result, cardiomyopathy is considered a high-risk condition by life insurance underwriters, and approvals for coverage are rare but possible.

While cardiomyopathy life insurance approvals are rare, they are possible, and people with this condition can secure coverage. The process may be challenging, and not all insurance companies will offer the same rates or conditions. Working with an independent agent or underwriting expert who has experience with high-risk cases can help individuals find the best coverage options. These experts can guide applicants through the process, ensuring they provide the necessary information and connect them with insurers who are more likely to offer coverage.

Several factors will influence the availability and cost of life insurance for individuals with cardiomyopathy. These include the type of cardiomyopathy, the severity of the condition, the presence of associated complications, family history, and overall health. The date of diagnosis is also important, as insurance companies typically want to see a period of stability before offering coverage. Additionally, individuals who have had successful treatments or surgeries may have better chances of securing coverage.

The type of cardiomyopathy plays a significant role in the approval process. For example, individuals with hypertrophic cardiomyopathy may be viewed as lower-risk compared to those with dilated cardiomyopathy, which is the most common form of the disorder. The thickness of the heart muscles and the results of an echocardiogram are also considered in the evaluation process.

It is important to note that premiums for individuals with cardiomyopathy are likely to be higher than average. However, by working with specialists and providing comprehensive information about their condition and overall health, individuals with cardiomyopathy can increase their chances of securing life insurance coverage.

Traditional insurers may automatically decline

When applying for life insurance, the insurance company will look at your health history and family health history. If you have a heart condition, you will need to answer specific questions about your heart health, such as the date of your first diagnosis or onset of symptoms, any surgeries or procedures you have had, your treatments, and medications.

The best type of life insurance coverage for you will depend on your diagnosis, treatments, family health history, current overall health, age, and gender. Term life insurance is the most popular and affordable type, but people with more serious conditions may not qualify. Simplified issue life insurance does not require a medical exam but has lower coverage amounts and higher premiums. Guaranteed issue life insurance is aimed at covering end-of-life costs and has small coverage amounts and costly premiums, but approval is almost certain regardless of health.

Life insurance companies will put cardiomyopathy into three main types: dilated cardiomyopathy, hypertrophic cardiomyopathy, and restrictive cardiomyopathy. The type of cardiomyopathy you have will impact your eligibility for life insurance. People with hypertrophic cardiomyopathy are usually viewed as less of a risk and may qualify for better rates. Dilated cardiomyopathy is the most common form and can lead to heart failure or other fatal issues, making it more difficult to qualify for the best classes for life insurance. Restrictive cardiomyopathy is less common and tends to affect older people.

In summary, while traditional insurers may automatically decline someone with cardiomyopathy, there are still options available. Working with an underwriting expert and understanding the different types of life insurance can help you find the right coverage. The specific details of your condition, treatments, and overall health will determine your eligibility and rates.

Specialist insurers exist for high-risk cases

Life Insurance with Cardiomyopathy

While cardiomyopathy can make the life insurance process more complicated, it is still possible to obtain quality life insurance at an affordable rate. Many people suffer from cardiomyopathy, and several insurance companies are eager to insure this large pool of individuals. In fact, as many as one in five Americans suffer from some form of cardiomyopathy, and many of them qualify for great life insurance as long as they use an underwriting expert.

Traditional insurers may automatically decline someone with cardiomyopathy, whether the effects were short-lived or not. However, there are many life insurance companies that specialize in "high-risk" situations such as this. These specialist insurers do not advertise, so it really pays to have the guidance of an expert when dealing with cardiomyopathy. An independent insurance agent may be able to help you compare policies from different companies.

Before applying for life insurance, it is important to get the right information upfront about the people you are working with. Do they represent many major life insurance carriers? Have they had prior success getting great rates for other people with heart conditions? Do they understand your cardiomyopathy, your family, and your goals?

Next, provide your detailed medical information to your underwriting expert. Life insurance is all about determining risk, so the more information you can provide to help the insurer assess your individual situation, the better. Even if you think the test results and facts are negative, it is always better to provide them. Complete information paints a clear picture, and without it, you will be denied.

Applying for life insurance with cardiomyopathy

• Seek plans that don't have pre-existing condition clauses that may exclude coverage for your heart disease.
• If you have health insurance through your employer, be very careful when changing jobs or policies. You may not be eligible for coverage under a new insurance plan or policy, or there may be waiting periods before you can receive full benefits.
• If you don't have insurance through your employer, you may want to buy a plan on your own through the Affordable Care Act's Health Insurance Marketplace. The ACA prohibits insurers from charging more or discriminating against people based on health status, health history, or gender.
• Young adults with congenital heart conditions can usually buy life insurance without difficulty, but the cost may be higher. Term life insurance, especially if bought through a group such as an employer, is often affordable and requires less medical information to enrol.
• Even if you were denied a life insurance policy as a child, reapply as an adolescent or adult. Many insurance companies will consider applications from adolescents or adults once the severity of their heart condition is known with greater certainty.
• If you've been declined life insurance due to cardiomyopathy, it's important to understand why your case was declined. Some programs, like many "no-exam" programs or simplified issue products, are just not the right fit after cardiomyopathy. It might be that, through no fault of your own, you just applied to the wrong company.

Factors that determine your health class

The following factors will be considered by the life insurance underwriter when determining your health class:

• Date of your cardiomyopathy diagnosis: Individuals diagnosed with cardiomyopathy early in life will have a harder time qualifying for better classes. If it was recently diagnosed, many companies will want a period of at least six months after the diagnosis before allowing a standard or table rating.
• Type of cardiomyopathy: Individuals with hypertrophic cardiomyopathy are usually viewed as less of a risk and may qualify for a mild substandard rating or better if they are in great health otherwise. People with dilated cardiomyopathy are more common and can also qualify for affordable rates.
• Ejection fraction: Usually, a left ventricle ejection fraction of 50% or higher is a must to qualify for life insurance after a cardiomyopathy diagnosis.
• Symptoms: If you suffer from dizziness, fainting, chest pain, or other symptoms, it will affect your eligibility. Though recurring symptoms do not automatically disqualify a person, individuals with little or no symptoms are viewed as less of a risk.
• Family history of cardiomyopathy: This is important for insurance companies to help determine the risk of insuring someone with a heart condition. If someone in your immediate family has died young from a heart problem, it will negatively impact your chances.
• Surgeries or procedures: Pacemakers, bypass surgery, and other procedures to treat cardiomyopathy help determine the current risk of a person. Generally, insurers will want at least six months to pass after any surgery before insuring. If your surgery successfully treats the cardiomyopathy, you can qualify for more affordable rates.
• Medications and other treatments: If medication and other treatments have helped successfully maintain and control your condition, you could qualify for a better health class.
• Other health issues: If you are in great health aside from cardiomyopathy, you may qualify for standard or even preferred ratings. Other health issues may not disqualify you, but they could result in a lower health class.

Life insurance rates depend on the type of cardiomyopathy

Dilated cardiomyopathy is the most common form, where the left ventricle becomes enlarged and cannot pump blood effectively. This type of cardiomyopathy can lead to heart failure and other fatal issues, making it challenging to qualify for the best life insurance classes. People with dilated cardiomyopathy may face higher premiums or be denied coverage by some insurers.

On the other hand, hypertrophic cardiomyopathy involves the thickening of the left ventricle, making it harder for the heart to pump blood. This type of cardiomyopathy is often considered less risky by insurers, especially if the individual is otherwise in good health. People with hypertrophic cardiomyopathy may receive more favorable rates and have a higher chance of approval.

Arrhythmogenic right ventricular cardiomyopathy is another form of the disease, but it is less common than the previous two types. This type of cardiomyopathy affects the heart's electrical system, causing an irregular heartbeat. The impact on life insurance rates can vary depending on the severity and other factors such as overall health and family history.

The severity of cardiomyopathy also plays a crucial role in determining life insurance rates. Mild cases of cardiomyopathy may have a lesser impact on premiums compared to more severe cases. Additionally, the presence of associated complications, such as heart failure or arrhythmia, can further influence the rates offered by insurers.

It is important to note that not all life insurance companies have the same underwriting conditions. Some companies specialize in high-risk cases and may offer more favorable rates for individuals with cardiomyopathy. Working with an independent agent or an underwriting expert can help individuals find the most suitable coverage options at competitive rates.

A recent diagnosis may cause issues

A recent diagnosis of cardiomyopathy can cause issues when securing life insurance. Insurance companies prefer to have a couple of years' worth of monitoring data to see what changes have occurred. The more stability over this time frame, the better your chances of getting life insurance in place.

If you have been recently diagnosed with cardiomyopathy, most insurance companies will want at least six months to pass after the diagnosis before allowing a standard or table rating. If you have had a heart attack, most insurance providers will not consider your application until at least six months have passed, and some will require a year.

If you have had a heart bypass, many insurers will want at least three months to pass post-surgery, and some will require six or 12 months.

If you have had angioplasty surgery, policies will differ based on how recent the surgery was and what the outcome was. Companies look for successful recuperation and whether the patient is following doctor's orders for recovery.

If you have had a heart valve replacement, your age, how effectively the replacement is working, and the strength of your heart muscle will play a critical role in the policies offered to you and what your premiums are.

If you have had a heart attack, companies will look at how recent it was, how severe it was, and how much damage was done to the heart muscle. All of these factors will influence the types of policies offered.

Frequently asked questions