Heart Surgery: A Life Insurance Deal-Breaker?

Heart surgery patients often face difficulties in obtaining life insurance, with some being denied coverage due to their medical history. However, it is still possible to secure life insurance after heart surgery, although the cost of coverage may increase significantly. The outcome depends on various factors, including the patient's diagnosis, treatments, family health history, and overall health.

Life insurance options for people with heart conditions

If you have a heart condition, you can still get life insurance, but your rates and policy options will depend on several factors, including your diagnosis, treatments, family health history, current overall health, age, and gender.

How to get life insurance with a heart condition

The first step is to compare quotes from different companies to see how your diagnosis may affect the cost of your premium. It's important to note that insurance companies vary a lot in how they consider heart conditions when offering life insurance.

When applying for life insurance, the insurance company will look at your health history and family health history. If you have a heart condition, be prepared 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've had, your treatments, and medications you're taking.

It's crucial to disclose your complete medical history when applying for life insurance. Failing to do so can be considered fraud and may put your loved ones at risk of losing the financial protection you wanted to provide for them.

Types of life insurance for people with heart conditions

Term life insurance

Term life insurance is the most popular and affordable type of life insurance. It provides coverage for a set term, usually between 10 and 30 years, and then expires. Many people with heart conditions will qualify for term life coverage, though some with more severe conditions or who were diagnosed before age 40 may not.

Permanent life insurance

Permanent life insurance policies last your entire life and usually include a cash value component that grows over time. These policies are generally best for people who need lifelong coverage or have a higher net worth. However, because many heart problems can make insurance premiums much more expensive, permanent policies can be cost-prohibitive for those with a history of heart issues.

Simplified issue life insurance

Simplified issue life insurance is a type of final expense insurance that doesn't require a medical exam. Instead, it relies on a medical questionnaire. It's designed to cover people who don't qualify for traditional life insurance policies, though not everyone is eligible. People with congestive heart failure, new diagnoses of heart disease, or who have had heart surgery or a heart transplant will likely not qualify.

Guaranteed issue life insurance

Guaranteed issue life insurance is aimed at covering end-of-life costs for people over 45 who don't qualify for simplified issue life insurance. While it comes with small coverage amounts and costly premiums, approval is almost certain regardless of your health profile.

Group life insurance

Group life insurance is an option for people who can't qualify for traditional life coverage due to heart conditions or are too young or priced out of guaranteed issue policies. These policies are usually offered through employers for free or at a subsidized rate and rarely have medical requirements. However, the coverage amounts are typically low, and you lose coverage if you leave your job.

Best life insurance companies for people with heart conditions

Corebridge Financial (formerly AIG Life & Retirement) is considered the best life insurance option for people with heart conditions. They offer traditional coverage more often and at lower rates to people with various heart issues than their competitors.

Other recommended companies include Lincoln Financial, Prudential, and Protective. Lincoln Financial is a good option for people who have had a heart attack, as they will consider your application within three months of the event, while most other insurers require a longer waiting period. Prudential is an option for younger people who have had a heart attack before the age of 40. Protective is a solid choice for people with arrhythmia, offering lower-than-average rates for many people with irregular heartbeats.

How to get life insurance after heart surgery

Life insurance is a crucial financial product that can ensure your peace of mind and take care of the security of your family in your absence. It is possible to get life insurance after heart surgery, but several factors and conditions will affect the cost of your premium and the likelihood of your application being accepted. Here are some steps to help you get life insurance after heart surgery:

• Compare quotes and insurance companies: Different insurance companies will consider your application differently, so it is important to compare quotes and shop around for the best option. An independent insurance agent may be able to help you compare policies and find the right one for you.
• Apply for group insurance through your employer: If you are employed, consider applying for group health insurance through your company. Most large companies will offer group health plans at reasonable rates, even if you have a heart condition.
• Seek plans that don't have pre-existing condition clauses: Look for insurance plans that do not exclude coverage based on pre-existing conditions. This will increase your chances of getting coverage for your heart condition.
• Apply for term life insurance: Term life insurance is often more affordable and requires less medical information to enrol. It may be a good option if you are looking for coverage after heart surgery.
• Improve your overall health: Adopting healthy habits, such as a balanced diet and regular exercise, and eliminating unhealthy habits like smoking, can increase your chances of getting approved for life insurance and reduce the cost of your premium.
• Follow your doctor's guidelines: If you listen to your doctor's post-surgery treatment guidelines and maintain your vitals, you will be able to ensure better overall health, which will improve your chances of getting life insurance.
• Manage your weight: Keeping your weight in check will not only help you get approved for life insurance but may also result in lower premiums. Overweight or obese applicants are generally considered more susceptible to health issues.
• Lock in coverage for as long as possible: Once you find a suitable policy, opt for comprehensive coverage and a long policy term. As you age and develop more health issues, it may become more challenging to purchase life insurance.

The cost of life insurance after a heart attack

Life insurance is a crucial financial product that can ensure your peace of mind and take care of the security of your family in your absence. However, the ability to buy life insurance depends on many factors, such as your age, medical conditions, and lifestyle habits. If you have a pre-existing illness, such as diabetes, the insurance company may charge you a high premium or refuse to sell you a plan altogether. The chances of buying life insurance in the case of heart issues are even bleaker.

So, if you have suffered a heart attack, purchasing life insurance will be even tougher. Here are some things to consider and steps to take to improve your chances of getting insured and reducing the cost of coverage.

Factors that affect your chances of getting insured

• Age: The older you were when you had the heart attack, the better. If you suffered a heart attack in your 30s or 40s, insurance companies will usually steer clear as cardiovascular issues at such an early age signal more serious ailments in the future.
• Severity: The severity of the heart attack matters. Blockage of one or two vessels makes you more insurable than someone who has suffered a severe heart attack that damaged three or four vessels.
• Health issues: If you have other health issues like diabetes, it will be more difficult and expensive to secure coverage. Life insurance companies are evaluating your overall health, so the fewer health issues you have, the better.

Steps to improve your chances of getting insured

• Follow the doctor's guidelines: If you listen to your doctor and maintain your vitals post-heart attack, you will be able to ensure better overall health, which will work in your favour when you approach an insurance provider.
• Manage your weight: Overweight or obese applicants are more susceptible to falling sick, which can be further detrimental in the case of heart patients. Keeping your weight in check will not only help you in buying a life insurance plan but will also offer you lower premiums.
• Change your eating habits: Eating a controlled and balanced diet will keep you healthy and active, and stable health parameters will leave no room for speculation for the insurer.
• Quit smoking: Lifestyle habits like smoking, consuming tobacco, and drinking alcohol can negatively affect your health and put more strain on your heart. It is advisable to refrain from them to ensure good health and increase your chances of buying a suitable insurance policy.
• Lock in coverage once approved: Since the prospects of purchasing life insurance plans diminish with age and rising health issues, it is better to buy a suitable plan when you can and avail benefits later.

The impact of congenital heart defects on life insurance

Congenital heart defects are the most common type of birth defect and the leading cause of death for those born with birth defects. Most congenital heart conditions require lifelong monitoring and treatment by a cardiologist, which can be costly. Therefore, it is important to have adequate health insurance coverage that provides access to physicians with knowledge of adults with congenital heart disease.

Health Insurance Coverage

Obtaining health insurance coverage can be tricky for people with congenital heart defects, especially when they reach adulthood and can no longer rely on their parents' insurance plans. It is important to seek plans that do not have pre-existing condition clauses that may exclude coverage for heart disease. Employer-provided group health insurance is generally the best way to get coverage, as most large companies offer group health plans at reasonable rates, even for those with heart conditions.

Life Insurance Coverage

Young adults with congenital heart conditions can usually buy life insurance without difficulty, but the cost may be higher. Term life insurance, especially when purchased through an employer, is often affordable and requires less medical information to enrol. However, insurance companies vary in how they consider congenital heart disease when offering life insurance, so it is important to compare information from different companies. Reapplying for life insurance as an adolescent or adult may be an option if one was denied coverage as a child, as many insurance companies will consider applications once the severity of the heart condition is known with greater certainty.

Financial Aid

The medical expenses associated with cardiac care can be extremely high, and even families with health insurance may need help paying them. Every state has agencies to help eligible families meet these medical expenses, and one's healthcare team can provide information about the specific program in their state and help with the application process. The amount of financial aid available depends on various factors, including state eligibility rules, financial situation, health insurance policy, and the cost of cardiac care.

How to get life insurance for heart attack survivors

Life insurance is a valuable financial safety net for your loved ones. If you're a heart attack survivor, you may be wondering if you can get life insurance and how to go about it. The good news is that it is possible to get life insurance after a heart attack. Here are some detailed steps to help you get life insurance as a heart attack survivor:

Understand the Two Common Types of Life Insurance

There are two main types of life insurance policies: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period, often used to cover needs like mortgage payments or a child's education. Permanent life insurance, such as whole life insurance, offers protection for a lifetime or the life of the policy, commonly used for final expenses or financial support for your family.

Wait for a Full Recovery

Although you may be eager to apply for life insurance after your heart attack, it's best to wait until you have fully or reasonably recovered. A good rule of thumb is to wait for at least three to six months before initiating the process. This timing improves your chances of approval and allows you to demonstrate your recovery and lifestyle changes.

Choose the Right Insurer

Not all insurance companies view heart attacks in the same way. It's essential to shop around and work with an independent agent who can guide you to insurers that cater specifically to heart attack survivors. Avoid big-box insurers that primarily focus on auto insurance, as they may not offer the flexibility and personalized assessment you need.

Provide Detailed Information

When applying for life insurance, be prepared to provide comprehensive information about your heart attack and current health status. This includes the date of your first diagnosis or onset of symptoms, any surgeries or procedures performed, your treatment plan, and medications you are taking. Being transparent and forthcoming improves your chances of securing coverage.

Improve Your Overall Health

Insurers will consider your overall health when evaluating your application. If you've had a heart attack, focus on improving your health by adopting a healthier lifestyle. This includes a nutritious diet, regular exercise, and eliminating unhealthy habits like smoking. Managing your weight and controlling conditions like diabetes can also enhance your chances of approval.

Explore Guaranteed Issue Policies

If you are unable to obtain traditional life insurance due to your heart issues, consider guaranteed issue or "final expense" policies. These policies do not require a medical exam or health questionnaire and can provide coverage of up to $25,000. They are designed to cover end-of-life costs, such as medical bills or funeral expenses.

Compare Quotes and Choose the Best Option

Compare quotes from different insurers to find the most suitable policy for your needs. Consider factors such as the coverage amount, premium rates, and the company's reputation for handling claims related to heart attack survivors. An independent insurance agent can assist you in comparing policies and finding the best match for your circumstances.

Frequently asked questions