Do you have Cardiomyopathy and wonder how it affects your life insurance rates? If so, it’s important that you apply with the right insurance company the first time because it could signifcantly decrease your chances of getting a good plan in the future. Not to worry though, as we’ll walk you through the life insurance buying process with cardiomyopathy.
In this article, we’ll cover the following:
- What is Cardiomyopathy?
- What are the Causes of Cardiomyopathy?
- What are the Main Types of Cardiomyopathy?
- What Medications are Used to Treat Cardiomyopathy?
- Securing Life Insurance with Cardiomyopathy
- Life Insurance and Cardiomyopathy: What to Expect
- Bottom Line
- The Next Steps for Purchasing Life Insurance With Cardiomyopathy
There is no-size-fits-all life insurance when it comes to certain health risks such as heart disease, and with years in the business, our agents are knowledgable on which carriers fit best with your specific health situation. We will work had to find you the best rates on the market.
It really comes down to using the right life insurance company who will look at your unique situation most favorably. Many people have trouble securing life insurance coverage or get offered very high premiums because they used the wrong insurance company. We replace other agents work all the time simply because we know which life insurance companies look at cardiomyopathy most favorably.
What is Cardiomyopathy?
Let’s get to the heart of it by first discussing cardiomyopathy, and then we’ll discuss how it affects life insurance rates. Someone with cardiomyopathy has a heart that has become thickened or enlarged, which in turn makes it harder for blood to be pumped to the rest of their body, and ultimately making it harder to maintain a regular electric rhythm. Over time, the weakend heart can lead to complications such as arrhythmias (irregular heartbeats) and heart valve problems. Cardiomyopathy can also lead to other conditions such as congestive heart failure. Symptoms of cardiomyopathy include shortness of breath, fatigue, and limitation of activity. It may become chronic and stable or may become progressive, leading to early death.
What are the Causes of Cardiomyopathy?
Often times it is unknown what has caused cardiomyopathy, as is the case when children are diagnosed. In some cases cardiomyopathy is inherited, and other instances where the disease is acquired, or rather the result of another health condition.
Common health conditions that may lead to cardiomyopathy include, but are not limited to:
- Long-term alcohol abuse
- Long-term drug abuse, particularly drugs considered “uppers”
- Long-term high blood pressure
- Other heart conditions
What are the Main Types of Cardiomyopathy?
The main types of cardiomyopathy include:
- Arrhythmogenic right ventricular dysplasia (ARVD)
- Dilated cardiomyopathy (DCM)
- Hypertrophic cardiomyopathy (HCM)
- Restrictive cardiomyopathy (RCM)
- Transthyretin amyloid cardiomyopathy (ATTR-CM)
- Unclassified cardiomyopathy (including “broken-heart syndrome”)
What Medications are Used to Treat Cardiomyopathy?
If you have cardiomyopathy, chances are you’re taking one of, or a combination of, the following commonly used medications:
- Angiotensin-converting enzyme (ACE) inhibitors
- Angiotensin II receptor blockers
- Beta blockers
- Digoxin (aka Digitalis)
Given the sometimes fatal nature of cardiomyopthy, it’s no wonder the life insurance underwriters want to know all of the details of an individual’s heart disease. All of these factors come into play when determining your life insurance health classification which ultimately determine whether or not you qualify for preferred life insurance rates.
Securing Life Insurance with Cardiomyopathy
Given the individuality and complexity of each case, we’ll need to know the following information in order to secure the best possible life insurance rates available:
- When were you first diagnosed?
- Have you experienced fainting or dizziness, palpitations, shortness of breath or chest pains?
- What were the results of your most recent echocardiogram?
- Are you on any medication? If so, which one(s)?
- Have you undergone any heart surgery, pacemaker, or defibrillator procedures?
- Have you smoked cigarettes in the last three years?
- Are there any other underlying health issues?
The more detailed you can be with us about your cardiomyopathy, the more accurate your rates will be.
Please know that we’re on your side, and it’s in our best interest to secure you the lowest possible rates. We have contracts with more than sixty life insurance carriers and aren’t married to any specific one. Whichever life insurance carrier provides the best rates is who we’ll offer to you, and the only way we can do that is if you’re 100% upfront and honest with us. In other words, please don’t hide or sugarcoat anything with us – underwriters will be combing through your medical records and anything and everything will come up. Trust us on this!
Life Insurance and Cardiomyopathy: What To Expect
If you’ve fully recovered from your cardiomyopathy or have remained stable for at least six months with a normal echocardiogram, it’s rare but possible to obtain a “Standard” health classification if there are no other conditions or lifestyle factors, such as smoking. Most likely, you’ll get a “Table 2” offer. If you’re not sure what that means, please give us a call and we’ll explain.
If you don’t fall within the description above, you’ll be rated based on the residual effects on your heart and lifestyle choices.
Obviously the more severe your condition, the higher your life insurance premiums will be.
Each and every life insurance company will view your individual situation in a different way. It’s important to make sure you are working with one who has experience dealing with applicants who have cardiomyopathy, and can offer you a good rate due to their experience with your condition.
Finding out which companies those are on your own is tough. We know exactly which companies are ideal for you to work with, so if you want to get the lowest rate on your life insurance even though you have cardiomyopathy, get in contact with us and we’ll be happy to help you out.
The Next Steps for Purchasing Life Insurance With Cardiomyopathy
If you’d like to purchase life insurance, there are several ways in which an independent, licensed agent can help you enroll:
- Over the phone
- With a paper application, face to face, or through the mail