Last Updated: March 2021
Anytime you have a high-risk medical health condition and want to apply for life insurance, you may feel overwhelmed and intimidated.
It is common to feel this way after common health occurrences such as a heart attack. A heart attack will certainly classify you in the category of high-risk life insurance.
We handle these types of life insurance cases frequently and we can tell you that it is possible to obtain life insurance after a heart attack.
In this article, we will break down what you need to know in applying for life insurance after a heart attack:
- Can You Get Life Insurance After a Heart Attack?
- Consider No Exam Life Insurance After a Heart Attack
- The Best Life Insurance Companies for People Who Have Had a Heart Attack
- Underwriting: What Life Insurance Companies Will Ask Following a Heart Attack
- How to Apply for Life Insurance After a Heart Attack
Can You Get Life Insurance After a Heart Attack?
Yes! Many people have the misconception that because you’ve had a heart attack, you can’t qualify for life insurance. This is absolutely false. We regularly secure coverage for our clients that have had a heart attack.
Many life insurance agents play the game of “submit and pray,” not having a clue what will happen in underwriting. This often leads to a decline.
There are several companies that underwrite heart attacks more favorably than all the others. The most significant factor when applying for life insurance after a heart attack is realizing that you have dozens of options.
Plenty of top-rated life insurance companies offer coverage at affordable rates for individuals who have had heart issues in the past.
Sure, many other underwriting factors will be factored into your application (more on this shortly), but overall, it is still possible to be approved for coverage depending on your situation and if you know where to look for the best chances of approval.
Before you ultimately start the process of applying for life insurance after you have suffered a heart attack, it is important to understand what the life insurance companies will be looking at and what you can do to give yourself a better chance at being approved.
Consider No Exam Life Insurance After a Heart Attack
Sometimes, a no-exam life insurance policy may make more sense for your situation but it needs to be considered carefully by an agent with experience dealing with heart attacks.
A no-exam life insurance plan will give you life insurance without being required to take the medical exam. These plans are an excellent way to get insurance protection even if you’ve had a heart attack, but they are going to cost more in monthly premiums.
If you want cheap coverage, you’re going to have to take the medical exam, it’s as simple as that.
No-exam life insurance is expensive, but it’s quick and sometimes it is easier to get approved after a situation such as a heart attack on your medical history. You can complete the application and get a decision in a matter of days.
If you want a normal policy, you will wait several weeks. If you’re looking for speed, then choose a no-exam policy, but is the speed worth the extra cost?
Even if you don’t qualify for a no-exam policy, you can still buy a guaranteed issue plan. Nobody is declined for a guaranteed issue life insurance policy. They only provide minimum protection, but it’s better than no coverage.
Life insurance is the most important safety net that you’ll ever purchase for your family. Regardless of your health or a heart attack, you should be able to get the most affordable coverage available to you.
The Best Life Insurance Companies for People Who Have Had a Heart Attack
When choosing a life insurance company after a heart attack, it is important that you are working with an agent who has access to all of the top-rated carriers and understands your unique medical background.
While we covered your no-exam options a moment ago, it is also important to understand that some companies tend to be more favorable towards heart conditions.
While it is still possible that you pay inflated premiums or have trouble being approved based only on our situation, it is still in your best interest to at least apply with certain companies.
A few that come to mind include:
While both of these companies do require a medical exam, they are known to be relatively favorable towards heart-related issues assuming you are transparent about current health with your agent and have plenty of documentation to back your statements.
Instead of stressing over who the best life insurance company could be with heart-related issues, it is much better and much easier to allow an independent life insurance agent to handle this for you.
They have the experience helping individuals just like you and can effectively navigate the waters much faster.
If You Have Been Declined Life Insurance Due to a Heart Attack, Consider Other Options
The last item that is worth noting is that you always have secondary options if you have been declined for life insurance after a heart attack. We referenced guaranteed issue life insurance previously and it is worth noting that these policies are still great protection for your family after all conditions have been met.
Consider asking your life insurance agent about options with AIG or even Gerber Life Insurance. Both of these companies offer top-notch coverage options and could be a viable option for you in the meantime.
When your health situation has improved, you can re-apply for traditional coverage. It is always better to have some protection than none at all.
Underwriting: What Life Insurance Companies Will Ask Following a Heart Attack
There are several key factors when underwriting life insurance with a heart attack history.
Life insurance companies look at the entire picture when you apply for life insurance. This includes your heart attack, among other considerations.
For now, let’s focus on 2 key factors that relate directly to the heart attack itself.
1. Damage To The Heart
The more information regarding the damage to the heart, the more favorable your underwriting assessment will be.
Underwriters want to see stress EKG’s (not resting EKG’s) and other cardiovascular testing beyond what is required by the insurance company. Ambiguity is not rewarded in life insurance underwriting.
Our best offers come from those with detailed follow-up regarding damage to the heart.
2. Excellent Follow-Up
The underwriters will look at your follow-up as indicated in your medical records. They want to see that you’re doing everything that can be done to prevent further complications.
- Positive lifestyle habits such as exercising and eating healthy.
- Regular medical follow-up. They like to see consistency.
- Use of preventative medications and dietary supplements.
- Monitoring and controlling blood pressure and cholesterol.
- If you use to smoke, they want to see that you’ve quit.
Seeing excellent follow-up after a heart attack can lead to substantial underwriting improvements.
Many consumers with a heart attack history tell us “I’m much better now” and that may be the case, but it doesn’t mean anything unless it’s documented by your doctors and you show consistency and compliance to your suggested regiment.
While having a heart attack in the past doesn’t mean that you’re automatically in poor health, but it means you’re at a higher risk of having more health problems.
This is why life insurance companies are also going to look at other factors outside of the heart attack when underwriting your policy.
Age and Other Considerations
In addition to the two factors we have covered pertaining directly to the heart attack itself, the life insurance companies will also take a look at your entire health picture. This is ultimately going to be how they are able to evaluate your risks, approve your application, and determine your rates.
Factors such as your age are going to come into play. It will also make a difference if you are currently a smoker.
Lastly, even smaller medical concerns such as your weight and blood pressure will be factored into your application. Regardless, it is important to understand that independent life insurance agents with experience are still capable of helping you.
How to Apply for Life Insurance After a Heart Attack
If you’ve had a heart attack and are looking for life insurance, we invite you to give our team at Rootfin a chance to earn your business.
Sure, you could read dozens of articles, call agents, and compare plans yourself, but you don’t have to be an insurance expert. We are here to be your experts.
While most agents will roll their eyes when they hear the words “heart attack”, we have the experience and knowledge to pinpoint the best plan on the market and welcome the challenge! Our agents have years of experience working with various insurance companies across the United States.
Not only can we help you find the lowest insurance rates, but we can also walk you through the application process and answer any questions.
Also, be sure to check out our other guides below to learn more about how different types of heart conditions can affect life insurance approval and rates: