Life Insurance Options For Seniors With Stents

People over 70 can get life insurance with stents, but the rates will be higher than standard rates. The older the person is when they have their stent procedure, the better the rating will be. It is also important to note that most life insurance companies will not consider a person's case until at least six months after their stent surgery.

Life insurance for people with stents

If you have had a stent procedure, you may be concerned about whether you can get life insurance. The good news is that you can still get life insurance after a stent procedure, and there are even options for affordable rates. However, there are several factors that will affect your eligibility and the rates you will be offered.

How Insurance Companies Evaluate Your Case

When applying for life insurance with a stent, insurance companies will consider various factors to determine your health class rating. These factors include:

• The date your stent(s) were placed: Most insurance companies will not consider your case until at least 6 months after your stent surgery. The longer it has been since your stent procedure, the more data the insurance company will have to evaluate your situation.
• Your age when the stent(s) were placed: Insurance companies may automatically decline your case if you had a stent procedure at a young age, especially in your 30s. The older you are when you have the procedure, the better your rating will typically be.
• The number of stents you have: Having one stent is generally viewed more favourably than having multiple stents.
• Stress tests and EKG results: Following up with your cardiologist and undergoing tests like stress tests and EKGs is crucial. The results of these tests will be closely assessed by the insurance company.
• Medications: After a stent procedure, you will likely be prescribed multiple medications, such as blood thinners and blood pressure medication. Compliance with your medication regimen is essential.
• Lifestyle changes: Making positive lifestyle changes, such as quitting smoking, losing weight, and improving your diet, will be looked upon favourably by insurance companies.
• Ejection fraction: This measures the amount of blood pumped out of your heart with each beat. For the best ratings, your ejection fraction should be greater than 50-55%.

Health Rating Expectations

The health class rating you receive will depend on the specifics of your situation and the underwriting guidelines of the insurance company. It's important to understand that each company has its own guidelines, so working with an experienced independent agent who can shop your case to multiple companies is beneficial.

As a general guideline, younger stent recipients (ages 50-70) can expect a 'Standard' rating if they have one stent and positive results from subsequent tests. However, in most cases, you can anticipate a substandard or table rating. If you are over 70, you may qualify for a 'Standard Plus' rating with some companies, provided your test results are positive.

Life Insurance Policy Options

There are two main options for life insurance with stents:

• Fully underwritten policy: If you have one or two stents, have complied with follow-up treatment, and have no other major health issues, a fully underwritten policy is your best option.
• Guaranteed issue life insurance: If you have multiple stents and other health issues, this may be your only option. This type of policy guarantees coverage, but the death benefit is graded, meaning your beneficiaries will not receive the full death benefit if you pass away within the first two years of the policy.

In conclusion, while life insurance for people with stents is available, it is important to understand the factors that insurance companies consider when evaluating your case. Working with an independent agent who can shop your case to multiple companies can help you find the most competitive rates and ensure you are matched with a company that views your situation in the most favourable light.

How will I be evaluated by the insurance company?

When applying for life insurance, the insurance company first evaluates your risk of death and assigns a cost to the policy accordingly. The lower the risk you present to the insurer, the lower you can expect your premiums to be. Here are the factors that will be considered when evaluating your application:

Age

The younger you are, the lower your premiums will be. Typically, the cost of a life insurance premium increases from 8% to 10% on average for every year of age. The older and less healthy you are, the harder it will be to qualify for life insurance.

Gender

Women generally pay lower rates than men of the same age as they have a longer life expectancy.

Smoking

Smoking puts you at a higher risk for many health problems. Life insurance companies charge more to insure smokers, who may pay more than twice as much as non-smokers for comparable coverage.

Health

The underwriting process for most carriers includes a medical exam in which the company records your height, weight, blood pressure, cholesterol, and other vital metrics. In some cases, it may also require an electrocardiogram (ECG or EKG) to check your heart. It’s important to get serious conditions like high cholesterol and diabetes managed before searching for coverage to ensure a competitive rate.

Lifestyle

If you lead a risky lifestyle with hobbies such as racing cars, scuba diving, or rock climbing, you'll probably have to pay substantially more for insurance. Some companies also charge more if you have a relatively dangerous profession such as a police officer or a miner.

Family Medical History

Having a family history of stroke, cancer, or other serious medical conditions may predispose you to these ailments and result in higher rates. Carriers are usually interested in any conditions your parents or siblings have experienced, especially if they have contributed to a premature death.

Driving Record

Many life insurance companies will look at your driving record during the underwriting process. They can access your Department of Motor Vehicles records to find out if you have any concerning violations. Keep in mind that the last three to five years carry the most weight.

Date of Stent Procedure

Most life insurance companies usually won’t consider your case until you’ve had your stents for at least 6 months. The longer it’s been since your stent surgery, the more data the insurance company will have to evaluate your situation.

Number of Stents

One stent will be more favorably viewed compared to multiple stents.

Stress Tests or EKGs

After you’ve had a stent procedure, follow-up with your cardiologist is key. The results of these tests will be assessed closely by the insurance company.

Medication

After your stent procedure, you will be required to take multiple medications such as blood thinners and blood pressure medication. Compliance with your medication is key.

Health Changes

A positive lifestyle change is important after you’ve had a stent procedure. If you quit smoking, lose weight and make other positive lifestyle changes, it will be looked at favorably by the life insurance underwriters.

Ejection Infraction

Ejection infraction measures the amount of blood that is pumped out of your heart each time it beats. At a minimum, your ejection infraction should be greater than 50% to 55% to be considered for the best ratings.

Sample life insurance rates for an applicant that has had a stent surgery

It is possible to get life insurance after stent surgery, but rates will be higher than for those without cardiac issues. The older you are when you have the stent procedure, the better your rating will be.

• A 54-year-old male with one stent, high blood pressure, and no other major health conditions was quoted a 10-year term policy with slightly substandard rates.
• A 73-year-old male non-smoker with two stents, one blood thinner, and a few other medications was able to get term and permanent policy options.
• A 66-year-old male with one stent, no heart attack, and no other health issues was advised to wait six months after his procedure before applying for life insurance.

It's important to note that most life insurance companies will postpone your application for six months after stent surgery. They want to see that you have recovered successfully and are not experiencing any complications.

To get the best rates, work with an independent underwriting expert who has access to multiple top-rated life insurance carriers.

Additional questions your life insurance agent may ask about your stent procedure

• How many stents do you currently have?
• Do you have a history of heart attack or stroke?
• How long have you had the stents?
• Have you recently had a stress test or echocardiogram? If so, what were the results?
• What is your current ejection fraction (EF)?
• Have you experienced any chest pains post-surgery?
• Have you made any lifestyle changes to help improve your condition?
• Do you have any other serious health conditions?

How to get the best life insurance offer after stent surgery or bypass

It is possible to get affordable life insurance after stent surgery or a bypass. However, the cost can vary depending on your diagnosis, treatment, recovery, and overall health. Applying to the wrong insurance company could cost you thousands more than you should pay.

• Wait at least six months after the procedure before applying for life insurance. This is because there is a high risk of the stent becoming clogged again within the first 6-12 months, and most insurance companies will postpone your application until they can see that you have recovered successfully.
• Work with an independent underwriting expert who has access to multiple top-rated life insurance carriers. They can help you find the company that will give you the best rate based on your situation.
• Provide detailed information about your stent surgery, including the date of the procedure, your age at the time, the number of stents, any follow-up treatments or medications, and the results of any cardiac tests.
• Make positive lifestyle changes such as quitting smoking, losing weight, improving your diet, and exercising regularly. This will not only improve your health but can also lead to lower life insurance rates.
• Shop around and compare rates from multiple insurance companies, as rates can vary significantly depending on their underwriting guidelines.
• Consider a fully underwritten policy if you have one or two stents and are otherwise healthy. If you have multiple stents and other health issues, your only option might be a guaranteed issue life insurance policy, which has a graded death benefit.
• Get quotes from multiple companies before applying, as some companies may decline your application or charge much higher rates than others.
• Work with an experienced agent who understands cardiac underwriting and can advocate for you to get the best rate.
• Be honest and transparent about your health history and current condition, as this will help ensure you get an accurate quote and avoid any issues with your application.

Frequently asked questions